Core Viewpoint - The chairman of Wantong Development, Wang Yihui, has been detained for investigation, which has led to a significant drop in the company's stock price despite recent gains from a chip acquisition deal [1][2]. Group 1: Company Developments - On August 18, Wantong Development announced that its chairman Wang Yihui is under detention by the Beijing Public Security Bureau, with the investigation unrelated to the company's daily operations [1]. - Following the announcement, Wantong Development's stock price fell nearly 10%, closing at 9.58 yuan per share, after reaching a peak of 10.95 yuan per share due to a recent chip acquisition that resulted in four consecutive trading days of gains [2]. - On August 10, Wantong Development proposed an acquisition plan worth 854 million yuan, which includes a 100 million yuan capital increase to acquire 9.09% of Shudao Technology and 605 million yuan to acquire 43.19% of its shares, ultimately gaining a 62.98% controlling stake in the company [4]. Group 2: Financial Outlook - The company is projected to incur a loss of 457 million yuan in 2024, with continued losses expected in the first half of 2025 [4]. - Wantong Development has been transitioning away from its real estate business since its rebranding in 2016, focusing on cultural, technological, and new infrastructure sectors [4].