Sinosun Technology announced after market close on August 12 that controlling shareholder Chaojun Investment plans to transfer all of its roughly 47.66 million shares, representing 14.18% of the company's total share capital, to Shanghai Jingheheng Technology Co., Ltd. by agreement at about 11.31 yuan per share, for a total consideration of approximately 539 million yuan. The company's control is set to change, and the stock will resume trading on August 13. After the transfer, Jingheheng will become the controlling shareholder, Qu Jialin will become the actual controller, and former actual controller Wei Kaiyan's stake will fall to 0.48%. No less than 50% of Jingheheng's acquisition funds will come from its own capital, which has already been fully received, and the remainder has secured a letter of intent for a loan from the Shanghai branch of China Merchants Bank. Qu Jialin has committed not to transfer the acquired shares for 60 months and not to pledge them for 36 months. On the same day, Sinosun Technology disclosed plans to acquire part of the equity of Shenzhen Bainai Technology Co., Ltd. through a share issuance and cash payment and gain control of it, at an issue price of 6.07 yuan per share, while also raising supporting funds, as it enters the server operation and maintenance sector. The transaction is premised on completion of the control change and is expected to constitute a related-party transaction but not a major asset restructuring. Sinosun Technology posted continuous losses in net profit attributable to the parent company from 2022 to 2025, and in the first quarter of this year its attributable net profit was about negative 4.44 million yuan, a widening loss year on year.
Sinosun TechControl change and acquisition plan likely to boost stock
Acquisition target in server O&M sector may benefit from new ownership
