Core Viewpoint - The acquisition of *ST Tianshan by Xiamen Shed is a significant event marking the end of the "Zhongzhi System" control, with the new owner facing severe operational challenges and potential delisting risks [2][3][7]. Group 1: Acquisition Details - Xiamen Shed acquired 22.11% of *ST Tianshan's shares and a debt claim of 76.49 million yuan for a total of 287 million yuan [2][3]. - The acquisition signifies the end of the Zhongzhi System's control over *ST Tianshan, which had been struggling with debt issues since 2021 [3][4]. - Xiamen Shed was established in May 2021 with a registered capital of 30 million yuan and is part of the Xiamen Gude Industrial Group [4]. Group 2: Financial and Operational Challenges - *ST Tianshan has faced three consecutive years of negative net profit, with a significant decline in revenue and ongoing losses in the first half of 2025 [7][10]. - The company reported a net profit of -65.94 million yuan and revenue of 92.28 million yuan for 2025, leading to a risk warning and potential delisting [7][10]. - In the first half of 2025, *ST Tianshan's livestock sales were dismal, with only 126 heads sold, indicating severe operational difficulties [10]. Group 3: Capital Operations and Future Prospects - The acquisition of *ST Tianshan coincided with Xiamen Shed's indirect acquisition of Shenzhen Chisu Automation Equipment Co., suggesting potential future asset injections [6][7]. - The rapid succession of capital operations raises questions about Xiamen Shed's intentions and the strategic direction for *ST Tianshan [6][7]. - The new ownership faces the urgent task of stabilizing *ST Tianshan's financial situation while navigating the complexities of potential asset integration [7][10].

Group 1 - The core viewpoint of the articles highlights the advancements and innovations in the dairy industry in Inner Mongolia, particularly focusing on the integration of technology and research to enhance dairy production and quality [2][4][7]. - Hohhot is recognized as a major dairy production area in China, leading in various metrics such as dairy cow inventory, milk production, and processing capacity [2]. - The "High-end Dairy Cattle Breeding and Key Technology Innovation" project led by Saikexing aims to break industry technical barriers through the integration of resources from universities and research institutions [4][5]. Group 2 - The National Dairy Technology Innovation Center is set to deepen the integration of smart digital technologies, including AI and digital twins, to establish a flexible pilot platform for future dairy development [7][9]. - Since its establishment in 2022, the center has gathered over 10 academicians and 100 senior industry experts, achieving significant breakthroughs in areas such as sex control technology and food safety risk analysis [9]. - The evolution of Yili Group from a small cooperative to one of the top five dairy companies globally demonstrates the industry's shift towards product innovation and high-value-added offerings [9].

Core Viewpoint - *ST Tianshan is facing significant financial pressure, leading to a strategic contraction in its upstream breeding business to ensure overall operational stability. The company plans to expand its breeding scale when financial conditions improve and market circumstances allow [1][5]. Company Summary - In April, *ST Tianshan sold 4 live cattle, generating revenue of 70,500 yuan, with month-on-month changes of -33.33% in sales volume and -20.89% in revenue, and year-on-year changes of -98.23% in sales volume and -95.68% in revenue [1]. - The company's main business is livestock farming, accounting for approximately 80% of its operations, primarily focusing on cattle breeding and beef cattle farming [1]. - In 2024, *ST Tianshan reported total operating revenue of 138 million yuan, a slight increase of 0.07% year-on-year, while net profit was -65.94 million yuan, representing a year-on-year increase in losses of 199.74% [5]. - For the first quarter of 2025, the company achieved operating revenue of 24.65 million yuan, a year-on-year increase of 40.5%, and a net profit of -4.96 million yuan, indicating a reduction in losses by 31.19% year-on-year [5]. Industry Summary - The beef cattle industry in China has faced challenges, including weakened external demand and insufficient domestic demand, leading to significant price declines for live cattle and beef products. The average monthly prices for beef and live cattle in 2024 dropped by 15% and 20%, respectively, reaching the lowest levels in five and ten years [2][4]. - The national beef cattle inventory at the end of 2024 was 10.047 million heads, showing a year-on-year decrease of 4.39% compared to 2023, despite an increase of 11.81% over the past 11 years [3]. - The overall scale of beef cattle farming in China is gradually improving, with a stable production capacity, but the economic benefits for farmers have significantly declined due to market downturns [2][4].

Core Viewpoint - *ST Tianshan is implementing a strategic contraction of its upstream breeding business due to significant financial pressure, as evidenced by a drastic decline in livestock sales and revenue [1][4]. Sales Performance - In April, *ST Tianshan sold only 4 head of livestock, generating a revenue of 70,500 CNY, which represents a month-on-month decline of 33.33% in sales volume and 20.89% in revenue [2][4]. - Year-on-year comparisons show a staggering drop of 98.23% in sales volume and 95.68% in revenue [2][4]. Financial Condition - For the year 2024, *ST Tianshan reported total revenue of 138 million CNY, a slight increase of 0.07% year-on-year, but a net loss of approximately 65.95 million CNY, which is a 199.74% increase in losses compared to the previous year [4]. - In the first quarter of 2025, the company achieved a revenue of approximately 24.65 million CNY, marking a year-on-year growth of 40.5%, while the net loss was reduced to about 4.96 million CNY, a decrease in losses by 31.19% [4]. Business Strategy - The company plans to strategically reduce its breeding operations to stabilize overall operations, with intentions to expand breeding scale when financial conditions improve [4]. - Approximately 80% of *ST Tianshan's main business is in the livestock industry, primarily focusing on cattle breeding and beef cattle farming [4].