SinoSun Technology agrees 539 million yuan control transfer, plans AI computing asset deal

SinoSun Technology resumed trading on August 13 after a 10-session suspension and closed limit-up at 10.64 yuan, up 19.95%, lifting its market value to about 3.6 billion yuan. The rally followed disclosure of a 539 million yuan control transfer under which controlling shareholder Xinjiang Chaojun Equity Investment will sell its entire 14.18% stake to Shanghai Jingheheng Technology at 11.3062 yuan per share, a roughly 27.47% premium to the pre-suspension close. If completed, Jingheheng will become the controlling shareholder and Qu Jialin will become the actual controller. SinoSun simultaneously unveiled a restructuring plan to acquire a partial stake in Shenzhen Bainei Technology through share issuance and cash payment, obtain control of the company and raise supporting funds. The issuance price for the asset purchase was set at 6.07 yuan per share. Bainei Technology, also controlled by Qu Jialin, focuses on chip-level repair of high-end AI computing equipment and GPU boards as well as server operations and maintenance. The proposed takeover and asset injection come as SinoSun seeks a new growth driver after four consecutive years of losses from 2022 to 2025 in its legacy electronic payment cipher device business. Bainei Technology reported 2025 revenue of 50.71 million yuan and net profit of 21.9 million yuan, while first-quarter 2026 revenue reached 34.14 million yuan and net profit 11.62 million yuan, according to the company announcement. The deal structure, funding sources, valuation fairness, related-party nature of the asset sale and the target's short operating history are likely to draw close investor and regulatory scrutiny before the transactions can be completed.

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