Core Viewpoint - ST Tianrui is undergoing a potential change in control, with its major shareholder and actual controller Liu Zhaogui planning to transfer control of the company, which may lead to a change in the company's controlling shareholder and actual controller [1] Group 1: Control Change Plans - Liu Zhaogui is currently planning a change in the company's control, with no agreements signed yet, and discussions ongoing regarding specific transaction plans [1] - The stock of ST Tianrui will be suspended from trading starting December 1, 2025, for a period not exceeding two trading days [1] - In May 2023, Liu Zhaogui had previously planned to transfer control of the company, signing a share transfer agreement with Guangzhou Liduo Virtual Reality Technology Partnership [1][2] Group 2: Share Issuance and Ownership Changes - The company signed a share subscription agreement with Guangzhou Liduo Technology Partnership, planning to issue up to 148,650,000 shares, raising a total of no more than 624.33 million yuan [2] - If the share transfer and issuance are completed, Liduo Virtual will hold 24,825,137 shares (3.85% of total shares post-issuance), and Liduo Technology will hold 148,650,000 shares (23.08% of total shares post-issuance), resulting in a change of control [2] Group 3: Financial Performance and Regulatory Issues - ST Tianrui has faced financial difficulties, reporting losses for four consecutive years since 2021, with a cumulative loss of 353 million yuan [3] - In the first three quarters of this year, the company reported revenue of 434.9 million yuan, a year-on-year decline of 26.15%, and a net profit loss of 1.218 million yuan, which is an improvement compared to the previous year [3] - Prior to the termination of the control change plan, the company was under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure [3]

Core Viewpoint - ST Tianrui is undergoing a potential change in control, as announced by its controlling shareholder and chairman Liu Zhaogui, with no agreements signed yet [1] Company Overview - ST Tianrui is a high-tech enterprise with independent intellectual property, owning nine wholly-owned subsidiaries and five controlling subsidiaries, specializing in the research, production, and sales of analytical testing instruments and software [2] Financial Performance - For the first three quarters of 2025, ST Tianrui reported a revenue of 435 million yuan, a year-on-year decrease of 26.15%, and a net profit attributable to shareholders of a loss of 1.22 million yuan [2] Stock Information - As of November 28, ST Tianrui's stock price was 4.64 yuan per share, with a total market capitalization of approximately 2.3 billion yuan [3]

Core Viewpoint - ST Tianrui (300165) is undergoing a potential change in control, as announced by its chairman Liu Zhaogui, with no agreements signed yet [2][4]. Company Overview - ST Tianrui is a high-tech enterprise with independent intellectual property rights, operating nine wholly-owned subsidiaries and five controlling subsidiaries, focusing on the research, production, and sales of analytical testing instruments [4]. Financial Performance - For the first three quarters of 2025, ST Tianrui reported a revenue of 435 million yuan, a year-on-year decrease of 26.15%, and a net loss attributable to shareholders of 1.22 million yuan [5][6]. - The company's revenue for the latest reporting period was approximately 140 million yuan, reflecting a decline of 33.03% compared to the same period last year [6]. - The net profit attributable to shareholders for the same period was approximately 8.37 million yuan, an increase of 3.95% year-on-year [6]. - The basic earnings per share for the latest reporting period was 0.0169 yuan, up 4.22% from the previous year [6].