Elegant Home Tech hits limit-up for sixth straight session on plan to acquire Oconnor stake

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Elegant Home Tech opened limit-up and extended its winning streak to six consecutive daily limit-up sessions, with over 420,000 lots of buy orders sealing the limit-up price at 16.94 yuan per share, giving it a market capitalization of 4.104 billion yuan. The company previously announced plans to acquire no less than 77.08 percent of Oconnor using its own funds and self-raised cash, with the total valuation of Oconnor's entire equity not exceeding 650 million yuan. After the acquisition, Oconnor will become a controlled subsidiary of the company. Oconnor focuses on storage testing equipment and testing services, and the company's management believes the related industry has significant growth potential, with this acquisition helping to cultivate new profit growth drivers. The company also cautioned that the relevant formal agreement has not been signed, the transaction is subject to uncertainty, and the counterparty has committed to a cumulative net profit after deducting non-recurring items of no less than 230 million yuan over the four years from 2026 to 2029, the achievement of which is also uncertain. In the broader market, brain-computer interface concepts were active, with Chuangxin Medical and Saili Medical both hitting their second consecutive limit-up sessions. Innovative drug concepts strengthened, with Hainan Haiyao also notching a second straight limit-up. AI application plays bucked the trend and rallied, with Nantian Information surging to its daily limit-up.

Zhangjiagang Elegant Home Tech Co Ltd ▲