Xiangshan Co. Plans Acquisition of AI Computing Firm Wulu Smart; Shares Halted from Tomorrow

M&A · Partnership
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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.

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浙江武珞智慧城市技术有限公司Private▲ Positive
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Wulu Smart is the acquisition target, being bought by Xiangshan Co. through share issuance and cash plus supporting fund raising.

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