ST Shuaidian announced plans to acquire 100% equity in Hangzhou Huijia Information Technology Co., Ltd. for 410 million yuan in cash, entering the power equipment industry. The target company reported revenue of 343 million yuan and net profit of 35.7023 million yuan in 2025, with an appraisal premium as high as 363.82%, and is expected to generate goodwill of 283 million yuan. The deal includes a performance commitment of total net profit no less than 150 million yuan from 2026 to 2028, but the target's revenue in the first four months of this year was only 42 million yuan with a net loss of 999,700 yuan. ST Shuaidian, with 2025 revenue of 227 million yuan and a loss, has already been placed under delisting risk warning, and this acquisition is seen by the market as a move to preserve its listing status. The company had only 216 million yuan in cash and equivalents at the end of the first quarter, and the first two instalments of about 213 million yuan will nearly exhaust its cash on hand.
