Core Viewpoint - The company, Guankang Technology, has resumed trading with a significant price increase following the announcement of a major asset restructuring plan to acquire 100% of Liao Jing Electronics, despite its own declining financial performance in recent years [1][2]. Group 1: Company Performance - Guankang Technology has reported consecutive losses in net profit for 2023 and 2024, with a significant decline of 86.14% in net profit for the first three quarters of 2025 compared to the previous year [1][2]. - The company's revenue figures for 2022, 2023, and 2024 were approximately 96.04 million, 102 million, and 152 million yuan, respectively, with corresponding net profits of about 17.62 million, -2.09 million, and -8.71 million yuan [2]. - As of the end of the first three quarters of 2025, Guankang Technology had cash reserves of 21.9 million yuan [3]. Group 2: Acquisition Details - The acquisition of Liao Jing Electronics is expected to enhance Guankang Technology's capabilities in high-reliability semiconductor devices and integrated circuits, thereby improving its ability to provide comprehensive solutions to military clients [2]. - Liao Jing Electronics has shown strong financial performance, with revenues of approximately 147 million, 114 million, and 132 million yuan for 2023, 2024, and the first nine months of 2025, respectively, and net profits of about 54.91 million, 25.51 million, and 40.57 million yuan [3]. - The controlling shareholder of Liao Jing Electronics, Su Zhou, holds 36.41% of the company's shares directly and an additional 3.11% indirectly through partnerships [3].

记者 刘泰山 编辑 史童 本报资料图 观想科技拟向不超过35名符合条件的特定投资者发行股份募集配套资金。本次拟募集配套资金总额不超 过本次拟以发行股份方式购买资产的交易价格的100%，发行股份数量不超过上市公司发行前总股本的 30%，本次发行股份购买资产的发行价格为48.06元/股。公告显示，本次募集配套资金拟用于支付本次 交易现金对价、支付本次交易的中介机构费用、相关税费、联合项目建设等。募集资金投资项目拟围绕 重点服务于民用AI边缘端算力、商业航天等重要领域方向的，具有高智能、高可靠、强抗毁、长寿 命、低成本、低功耗特性的软硬件产品的研制和投建展开。 观想科技表示，通过本次交易，公司能够提升向军方及军工单位客户提供"核心元器件+智能系统平台 +全寿命周期管理"的一站式解决方案能力，增强客户黏性，构筑极高的竞争壁垒，从而扩大公司整体 销售规模，进一步提升持续盈利能力和核心竞争力。 1月6日晚间，四川观想科技股份有限公司发布公告显示，公司拟通过发行股份及支付现金方式购买锦州 辽晶电子科技股份有限公司（以下简称"辽晶电子"）100%股份。本次交易预计构成重大资产重组，公 司股票将于1月7日起复牌。 四川观想科技 ...

Core Viewpoint - Company plans to acquire at least 60% stake in Liao Jing Electronics through share issuance and raise matching funds, with stock suspension starting December 22 [1] Group 1: Acquisition Details - The transaction is in the planning stage, with ongoing discussions with shareholders of Liao Jing Electronics, who hold a combined 67.69% stake [1] - A framework agreement for the equity acquisition has been signed with the main counterparties, indicating an intention to purchase assets [1] - Final terms such as share transfer quantity, price, payment method, and performance compensation will be determined in a formal agreement [1] Group 2: Company Profile of Liao Jing Electronics - Liao Jing Electronics, established in 2007, is a national high-tech enterprise specializing in semiconductor discrete devices and integrated circuit research and production [2] - The company is located in Jinzhou, covering approximately 34,000 square meters, with advanced research and production equipment [2] - Current production capacity includes 2 million semiconductor discrete devices and integrated circuits annually, along with other specific products [2] Group 3: Synergy with Guanshang Technology - Liao Jing Electronics has two subsidiaries focused on semiconductor technology, located in Sichuan, which aligns with Guanshang Technology's operations [3] - Guanshang Technology, founded in 2009, focuses on information technology applications in the military sector and has seen a significant decline in net profit since its IPO [3][4] - The company reported a net profit drop of 86.14% in the first three quarters of 2023, with management expenses increasing by nearly 30% [4]

Group 1 - The core announcement is that Guankang Technology is planning to issue shares to acquire assets and raise matching funds, leading to a suspension of its stock starting December 22 due to uncertainties surrounding the transaction [2] - The target for the acquisition is Liao Jing Electronics Technology Co., Ltd., with Guankang Technology in discussions with shareholders who collectively hold 67.69% of Liao Jing Electronics [2] - Liao Jing Electronics is recognized as a national-level specialized and innovative "little giant" enterprise, focusing on the development of small to medium-sized integrated circuits and discrete device products, with applications in aerospace, aviation, shipping, military, electronics, and nuclear physics [2] Group 2 - Guankang Technology's core business revolves around the application of self-controllable new-generation information technology in the military industry, providing full life cycle management systems and intelligent equipment control modules [2] - In the first three quarters of the year, Guankang Technology reported revenue of 0.65 billion yuan, a year-on-year increase of 4.86%, while its net profit after deducting non-recurring items was 15.68 thousand yuan, a significant decline of 93.93% year-on-year [2] - As of the market close on December 19, Guankang Technology had a total market capitalization of 55.24 billion yuan [2]

Core Viewpoint - The company, Guanshang Technology, is planning to issue shares to acquire assets and raise matching funds, leading to a suspension of its stock trading starting December 22, 2025, due to uncertainties surrounding the matter [1][4]. Group 1: Announcement Details - The company will disclose the transaction plan within 10 trading days, by January 7, 2026, in accordance with relevant disclosure regulations [4]. - If the company fails to hold a board meeting and disclose the transaction plan by the deadline, trading will resume on January 7, 2026, and the company will terminate the planning of the asset acquisition [4]. - The target for this transaction is Liao Jing Electronics Technology Co., Ltd., which has a registered capital of 57 million yuan and is involved in the design, production, and sales of integrated circuits and electronic components [4][5]. Group 2: Transaction Progress - The company has signed a framework agreement with the main transaction counterparties, indicating a preliminary intention to purchase assets [5]. - The final terms of the share transfer, including quantity, ratio, price, payment method, and other arrangements, will be determined in a formal share acquisition agreement [5]. Group 3: Company Background - Guanshang Technology, established in 2009, focuses on research and development in computer hardware and software, as well as communication technology [5]. - The company operates in the military industry, providing lifecycle management systems and intelligent equipment control modules [5]. Group 4: Financial Performance - In the third quarter, the company reported revenue of 24.32 million yuan, a slight decrease of 1.72%, and a net loss attributable to shareholders of 663,600 yuan [6]. - As of December 19, the company's stock price increased by 3.35% to 69.05 yuan per share, with a total market capitalization of 5.524 billion yuan, reflecting a year-to-date increase of over 60% [7].

Group 1 - The company, Guanshang Technology, announced a suspension of its stock trading starting December 22, 2025, due to the planning of a share issuance to acquire assets and raise supporting funds, which carries uncertainties [2] - The company expects to disclose the transaction plan within 10 trading days, by January 7, 2026, in accordance with relevant disclosure guidelines [5] - If the company fails to disclose the transaction plan by the deadline, trading will resume on January 7, 2026, and the company will provide updates on the planning activities during the suspension [5] Group 2 - The target of the acquisition is Liao Jing Electronics Technology Co., Ltd., which has a registered capital of 57 million yuan and is involved in integrated circuits, electronic components, and microelectronics [6] - The company is currently in discussions with shareholders of Liao Jing Electronics, who collectively hold 67.69% of the company's shares, although the final transaction parties have not yet been determined [6] - A framework agreement for the acquisition has been signed with the main transaction parties, outlining the intention to purchase assets, with specific terms to be finalized in a formal agreement [6] Group 3 - Guanshang Technology, established in 2009, focuses on research and development in computer hardware and software, particularly in the military industry, providing lifecycle management systems and smart equipment control modules [7] - In the third quarter, the company reported revenue of 24.32 million yuan, a slight decrease of 1.72%, and a net loss attributable to shareholders of 663,600 yuan [7] - As of December 19, 2025, the company's stock price increased by 3.35% to 69.05 yuan per share, with a total market capitalization of 5.524 billion yuan, and the stock has risen over 60% year-to-date [7]

明起停牌。 观想科技（301213）12月21日晚间公告，公司正在筹划发行股份购买资产并募集配套资金事项，因有关事项尚存不 确定性，为了维护投资者利益，避免对公司证券交易造成重大影响，根据深圳证券交易所的相关规定，经公司申请， 公司股票（证券简称：观想科技，证券代码：301213）自2025年12月22日开市时起开始停牌。 公告称，公司预计在不超过10个交易日的时间内披露本次交易方案，即在2026年1月7日前按照《公开发行证券的公 司信息披露内容与格式准则第26号——上市公司重大资产重组》的要求披露相关信息。若公司未能在上述期限内召开 董事会审议并披露交易方案，公司证券最晚将于2026年1月7日开市起复牌并终止筹划相关事项，同时披露停牌期间 筹划事项的主要工作、事项进展、对公司的影响以及后续安排等事项，充分提示相关事项的风险和不确定性，并承诺 自披露相关公告之日起至少1个月内不再筹划重大资产重组事项。 根据公告，本次交易的标的为锦州辽晶电子科技股份有限公司（简称"辽晶电子"），注册资本为5700万元，其经营范 围为集成电路、电力、电子元器件的设计、生产、销售；微电子产品的塑料封装、机械零部件设计、制造、销售； ...

Group 1: Company Overview - Sichuan Guanshang Technology Co., Ltd. is located in the Chengdu Tianfu New Area, established on February 11, 2009, and listed on December 6, 2021. The company focuses on the application of self-controlled new generation information technology in the military industry, providing full life cycle management systems and intelligent weapon control modules among other products and services [2] - The main business revenue composition includes: Artificial Intelligence 43.45%, Full Life Cycle Management Systems 41.64%, and Intelligent Equipment 14.91% [2] Group 2: Financial Performance - For the period from January to September 2025, the company achieved operating revenue of 65.36 million yuan, a year-on-year increase of 4.86%, while the net profit attributable to the parent company was 763,000 yuan, a year-on-year decrease of 86.14% [2] - As of September 30, the number of shareholders was 12,100, a decrease of 31.59% from the previous period, with an average of 4,277 circulating shares per person, an increase of 46.18% [2] Group 3: Financing and Trading Activity - On November 10, the company's stock price fell by 0.60%, with a trading volume of 46.28 million yuan. The financing buy-in amount was 3.81 million yuan, while the financing repayment was 7.08 million yuan, resulting in a net financing buy-in of -3.27 million yuan [1] - The total financing and securities lending balance as of November 10 was 90.74 million yuan, accounting for 2.03% of the circulating market value, which is above the 70th percentile level over the past year [1] - On the same day, there were no shares sold or repaid in the securities lending market, with the lending balance also at 0.00 shares, indicating a high level of inactivity in this area [1] Group 4: Dividend Information - Since its A-share listing, the company has distributed a total of 39.20 million yuan in dividends, with 15.20 million yuan distributed over the past three years [3]

Group 1 - The core business of Sichuan Guanshang Technology Co., Ltd. focuses on the application of self-controlled new generation information technology in the military industry, providing full life cycle management systems and intelligent weapon control modules [2] - As of September 30, the company reported a total revenue of 65.36 million yuan for the first nine months of 2025, representing a year-on-year growth of 4.86%, while the net profit attributable to shareholders decreased by 86.14% to 763,000 yuan [2] - The company has a total of 12,100 shareholders, which is a decrease of 31.59% compared to the previous period, with an average of 4,277 circulating shares per person, an increase of 46.18% [2] Group 2 - On November 6, Guanshang Technology's stock price fell by 1.45%, with a trading volume of 73.11 million yuan [1] - The financing buy-in amount on the same day was 6.94 million yuan, while the financing repayment was 11.33 million yuan, resulting in a net financing buy-in of -4.39 million yuan [1] - The total financing and securities lending balance as of November 6 was 96.63 million yuan, accounting for 2.12% of the circulating market value, indicating a high level compared to the past year [1]

Core Viewpoint - Guanshang Technology has seen a stock price increase of 5.29% on October 28, reaching 59.55 CNY per share, with a total market capitalization of 4.764 billion CNY, indicating a cumulative increase of 4.94% over three consecutive days [1] Company Overview - Guanshang Technology Co., Ltd. is located in the Chengdu Tianfu New Area of the China (Sichuan) Pilot Free Trade Zone and was established on February 11, 2009, with its listing date on December 6, 2021 [1] - The company focuses on the application of self-controlled new generation information technology in the military industry, providing products and services related to equipment lifecycle management systems and intelligent weapon control modules [1] - The revenue composition of the company includes: 43.45% from artificial intelligence, 41.64% from equipment lifecycle management systems, and 14.91% from intelligent equipment [1] Fund Holdings - According to data, the Jiao Yin Schroder Fund has a significant holding in Guanshang Technology, with the Jiao Yin Multi-Strategy Return Flexible Allocation Mixed A Fund (519755) holding 94,000 shares, unchanged from the previous period, accounting for 1.48% of the fund's net value [2] - The fund has realized a floating profit of approximately 281,100 CNY today, with a floating profit of 250,000 CNY during the three-day increase [2] - The Jiao Yin Multi-Strategy Return Flexible Allocation Mixed A Fund was established on June 2, 2015, with a current scale of 243 million CNY and a year-to-date return of 10.73% [2] Fund Manager Performance - The fund managers of Jiao Yin Multi-Strategy Return Flexible Allocation Mixed A Fund include Wang Yiwei, Jiang Chengcao, and Xu Senzhou, with varying tenures and performance metrics [3] - Wang Yiwei has a tenure of 5 years and 337 days, with a best return of 29.23% during his tenure [3] - Jiang Chengcao has a tenure of 1 year and 293 days, achieving a best return of 144.19% [3] - Xu Senzhou has a tenure of 293 days, with a best return of 11.1% [3]