Core Viewpoint - Shanghai Suochen Information Technology Co., Ltd. plans to acquire 60% equity of Beijing Likong Yuantong Technology Co., Ltd. from ten shareholders through its wholly-owned subsidiary, Shanghai Suochen Digital Technology Co., Ltd. in cash [1][22]. Group 1: Major Asset Purchase Announcement - The company’s board of directors has approved the draft of the major asset purchase report and related proposals [1]. - The company received an inquiry letter from the Shanghai Stock Exchange regarding the major asset purchase draft and has made necessary revisions to the report [2][39]. - The revised report has been disclosed, ensuring that the transaction plan remains unaffected by the changes [2]. Group 2: Shareholder Meeting Notification - The third extraordinary general meeting of shareholders is scheduled for November 19, 2025, with both on-site and online voting options available [5][6]. - The meeting will discuss the major asset purchase report and other related proposals that have been previously approved by the board [8]. Group 3: Self-Inspection Report on Stock Trading - The company conducted a self-inspection regarding stock trading by insiders during the period leading up to the announcement of the major asset purchase [22]. - The self-inspection confirmed that the trading activities of relevant insiders did not constitute insider trading and did not pose legal obstacles to the transaction [28][30]. Group 4: Investor Communication - An investor briefing session is scheduled for November 11, 2025, to address questions regarding the major asset purchase [32]. - The session will be held online, allowing investors to submit questions in advance [33][36].

Core Viewpoint - Shanghai Suochen Information Technology Co., Ltd. (stock code: 688507) has responded to the Shanghai Stock Exchange's inquiry regarding its major asset acquisition proposal, detailing the strategic value and integration path of acquiring the target company, Likong Technology [1] Group 1: Synergy Effects - Suochen Technology and Likong Technology are both leading companies in the industrial software sector, aiming to create a comprehensive industrial software system through deep collaboration in products, technology, and application scenarios [2] - The synergy is highlighted in three aspects: 1. Technical complementarity, where Likong's real-time industrial data enhances Suochen's CAE simulation accuracy, while Suochen's AI results optimize the SCADA system [2] 2. Product collaboration, breaking down data barriers across design, production, and operation to form a full lifecycle solution [2] 3. Application expansion, with joint solutions achieving breakthroughs in low-altitude economy and smart cities [2] Group 2: Valuation of the Target - The valuation of Likong Technology's 100% equity is assessed at 324 million yuan, with an appreciation rate of 1151.92%, primarily due to its technological barriers and customer resources [3] - The transaction's price corresponds to a price-to-sales ratio of 1.49, significantly lower than the industry average of 3.66 and comparable transaction cases at 4.56, indicating fair valuation [3] - Financial data shows Likong's projected revenues for 2023, 2024, and the first half of 2025 at 249 million yuan, 217 million yuan, and 68 million yuan respectively, with net profits remaining negative due to financial costs and prior personnel expansion [3] Group 3: Historical Background and Share Structure - The announcement details the historical share buyback and pricing differences in the transaction, emphasizing that the buyback was triggered by an unfulfilled IPO and was calculated based on "investment principal + annualized 8% compound interest" [4] - The core management team and external shareholders have different pricing, with internal shareholders valuing at 271 million yuan and external shareholders between 496 million and 525 million yuan, reflecting a focus on long-term collaborative value [4] - The intermediary's review confirms that the differentiated pricing aligns with market principles and there is no benefit transfer involved [4]