Core Viewpoint - Time Space Technology announced the termination of its control change after failing to reach an agreement on key terms with the trading party, prioritizing the interests of all shareholders [1][3]. Group 1: Control Change Announcement - The announcement revealed that the controlling shareholder, Gong Lanhai, decided to terminate the control change to protect the company's interests [1]. - The transaction did not have a substantive agreement signed, and all parties involved will not bear any liability for the termination [3]. - The stock of Time Space Technology will resume trading on July 30 after a five-day suspension [3]. Group 2: Company Performance and Financials - Time Space Technology has faced significant financial challenges since its listing, with a net profit loss of approximately 17.71 million yuan in 2021 and a cumulative net loss of 696 million yuan over four consecutive years [6]. - For the first quarter of 2025, the company reported a net profit loss of 35.63 million yuan, with expectations of a loss between 61 million to 75 million yuan for the first half of 2025 [6][8]. - The company attributed its ongoing losses to prolonged project development cycles, fierce industry competition, and limited capacity to reduce fixed operating costs [8]. Group 3: Stock Performance - Prior to the suspension, Time Space Technology's stock reached a peak price of 27.64 yuan, with a total market capitalization of 2.743 billion yuan [3]. - Following the announcement of the control change termination, the stock price dropped to 22.67 yuan, reflecting an 8.88% decline, with a market capitalization of 2.25 billion yuan [8].

Core Viewpoint - The company, Shikong Technology, is undergoing significant changes regarding its control and financial performance, with recent announcements indicating potential shifts in ownership and ongoing financial losses. Group 1: Control Changes - On July 1, Shikong Technology announced that the pledge of shares by its controlling shareholder, Gong Lanhai, would not lead to a change in actual control of the company [1] - However, on July 24, the company disclosed that Gong Lanhai is planning a change in control, leading to a temporary suspension of trading to ensure fair information disclosure [1][3] - The company will issue further announcements once the situation is clarified and will apply for stock resumption [1] Group 2: Financial Performance - Shikong Technology has projected a net loss for the first half of 2025, estimating a loss between 75 million to 61 million yuan, continuing its trend of financial losses [5] - The primary reasons for the anticipated losses include prolonged project development cycles, intense industry competition leading to reduced profit margins, and lower-than-expected project receivables [5] - The company has reported cumulative net losses of 696 million yuan over the past four years, with specific losses of approximately 262 million yuan in 2024 and 207 million yuan in 2023 [6] Group 3: Market Activity - On July 23, the trading day before the suspension, Shikong Technology's stock price surged to a limit-up, closing at 27.64 yuan per share, with a total market capitalization of 2.743 billion yuan [8] - The stock has seen a cumulative increase of 92% since the beginning of the year [8] Group 4: Business Strategy - The company aims to continue adjusting its business structure and improving operational efficiency to respond to market changes [8]