Core Viewpoint - Tianpu Co., Ltd. has completed its stock trading investigation and will resume trading on December 3, 2025, after being suspended since November 28, 2025 [2][3]. Group 1: Stock Performance - As of November 27, 2025, Tianpu Co., Ltd. shares were priced at 147 CNY per share, with a year-to-date increase of 1067.59%, resulting in a market capitalization of 19.71 billion CNY [3]. - The stock price surge began after the announcement of a change in actual control on August 21, 2025, when Tianpu Co., Ltd. disclosed that its controlling shareholder would transfer 10.75% of shares to Zhonghao Xinying [5]. Group 2: Acquisition and Control Changes - Zhonghao Xinying, a prominent startup in the AI chip industry, is focused on developing high-performance AI chips and computing clusters, with its founder being a key member of Google's TPU architecture team [6]. - The acquisition will result in Zhonghao Xinying and Hainan Xinfan holding a combined 50.01% stake in Tianpu Co., Ltd., making Yang Gongyifan the actual controller of the company [5]. Group 3: Market Activity and Company Operations - Tianpu Co., Ltd. experienced significant stock price fluctuations, including a 15-day consecutive trading limit increase from August 22 to September 23, 2025, followed by a 24.69% decline over four days in October [6]. - The company reported a revenue of 230 million CNY for the first three quarters of the year, a decrease of 4.98% year-on-year, and a net profit attributable to shareholders of 18 million CNY, down 2.9% year-on-year [7].

Core Viewpoint - Tianpu Co., Ltd. has completed its stock trading investigation and will resume trading on December 3, 2025, after being suspended since November 28, 2025 [2][3]. Group 1: Stock Performance - As of November 27, 2025, Tianpu's stock price was 147.00 CNY per share, with a year-to-date increase of 1067.59%, resulting in a market capitalization of 19.71 billion CNY [4][5]. - The stock experienced significant volatility, with a series of trading halts and resumption due to market fluctuations, including a 24.69% decline over four consecutive trading days from October 16 to 21, 2025 [7]. Group 2: Shareholding Changes - The stock price surge began after the announcement of a change in actual control on August 21, 2025, when Tianpu's major shareholders planned to transfer a total of 10.75% of shares to Zhonghao Xinying, leading to a new actual controller [6]. - Zhonghao Xinying is recognized as a "star startup" in the AI chip industry, focusing on high-performance AI chip development and infrastructure [6]. Group 3: Future Plans and Financials - Tianpu has confirmed that Zhonghao Xinying has no plans for a backdoor listing through Tianpu within the next 36 months and has no intentions to change the main business or conduct significant asset transactions in the next 12 months [8]. - For the first three quarters of the year, Tianpu reported revenue of 230 million CNY, a year-on-year decrease of 4.98%, and a net profit attributable to shareholders of 18 million CNY, down 2.9% year-on-year [8].