Zhejiang Risun Intelligent Technology Co. Ltd. A

Xiangshan Co. announced on the evening of August 31 that it is planning to acquire assets through a share issuance and cash payment, along with raising supporting funds. The transaction is not expected to constitute a major asset restructuring. Trading in its shares will be suspended from the market open on September 1, and the company expects to disclose the transaction plan within no more than 10 trading days. The target company is Zhejiang Wulu Smart City Technology Co., Ltd., which is deeply engaged in the AI computing sector and provides full-stack AI computing solutions. Its core business covers AI computing equipment, thermal management products, and industry agent applications. Wulu Smart's shareholders include A-share listed company Ruisheng Intelligent, which holds a 25% stake, as well as several venture capital firms and individual investors. Xiangshan Co. mainly operates in smart cockpit components and new energy charging and power distribution systems. In the first half of 2026, its operating revenue was 2.402 billion yuan, down 18.23% year-on-year, and net profit attributable to the parent company was a loss of 12 million yuan, swinging from profit to loss. Since August, Xiangshan Co.'s share price has risen nearly 40% cumulatively, with total market value climbing to nearly 8.1 billion yuan.

Ruisheng Intelligent released its first-half 2026 report, achieving operating revenue of 279 million yuan, up 50.84% year on year. Net profit attributable to shareholders of the listed company was 26.5242 million yuan, up 609.31% year on year. The company's second-quarter net profit was 18 million yuan, and first-quarter net profit was 9 million yuan, meaning second-quarter net profit rose 98% quarter on quarter.

Ruisheng Intelligent announced that the company and its wholly-owned and controlled subsidiaries may use idle own funds up to a limit of 250 million yuan for cash management. The matter has been approved by the board of directors and does not require submission to the shareholders' meeting. The effective period of this cash management is 12 months from the date of board approval, and funds within the limit can be recycled and reused on a rolling basis. Investment targets are limited to structured deposits, time deposits, large-denomination certificates of deposit, and other financial products with high safety and good liquidity. The company stated that the move aims to revitalize idle funds while ensuring daily operating capital needs, improve utilization efficiency, and increase returns, with multiple layers of risk control mechanisms already in place. The company cautioned that financial markets are affected by changes in the macro environment, and cash management may yield actual returns below expectations.