Group 1 - The core point of the article is that Xinghua New Materials (301077) plans to acquire at least 51% of Hangzhou Tiankuan Technology Co., Ltd. for cash, with a total valuation of no more than 660 million yuan [1] - Tiankuan Technology's main business includes the construction, operation, and service of artificial intelligence computing centers, providing digital transformation service solutions for industry clients [1] - The acquisition represents a further expansion of the company's presence in the artificial intelligence sector, following its entry into this field after acquiring Dongwang Intelligent Technology (Shanghai) Co., Ltd. in December 2025 [1]

Core Viewpoint - Xinghua New Materials (301077.SZ) plans to acquire at least 51% of Tiankuang Technology through a cash payment, making it a controlling subsidiary after the transaction [1] Group 1: Transaction Details - The estimated valuation for Tiankuang Technology is set at no more than 66 million yuan, subject to final determination based on due diligence and asset evaluation [1] - Prior to the transaction, Xinghua New Materials did not hold any shares in Tiankuang Technology [1] Group 2: Business Overview of Tiankuang Technology - Tiankuang Technology's main business includes the construction, operation, and service of artificial intelligence computing centers, covering aspects such as computing power base construction, cluster scheduling, model training, and algorithm development [1] - The company provides digital transformation service solutions for industry clients, including consulting, planning, design, construction, operation, and adaptation development [1] - In the field of digital security, Tiankuang Technology offers integrated digital and intelligent products based on customer data application and security management needs, including mobile operation safety terminals and IoT security products [1]