When facing thousands of listed company announcements every day, which ones should you read? What are the key points to take away from the dozens or hundreds of pages of material announcements? Are the many professional terms in the announcements bullish or bearish? Check out Caixin's "Quick Read Announcement" column, where our reporters across the country will provide you with accurate, fast and professional interpretations on the night of the announcement.

On July 19, the Caixin News reported (Reporter Ren Chaoyu) that since Dengyun Shares (002715.SZ) announced the termination of major asset restructuring on the 17th, the company's stock price has fluctuated significantly. At today's investor briefing, company management stated that the main reason for the termination of the acquisition was significant changes in the Shenzhen Composite Index and stock price, and stated that the company currently has no plans to continue investing in Speed Technology. But when asked about the coordination between Speed Technology and the listed company, the company avoided answering.

On the 17th, after Dengyun Shares announced the termination of the major restructuring, the company's stock price rose by the limit on the 18th and closed at 10.94 yuan/share on the 19th, down 6.34%.

The announcement shows that the termination of the major restructuring is mainly due to changes in the market environment. Yang Haikun, the chairman of the company, replied to the reporter of Caixin News at today's investor briefing that as of mid-July, the Shenzhen Composite Index and the company's stock price have changed significantly from the beginning of May. At this stage, the uncertainty of continuing to promote this transaction is high. In order to effectively protect the interests of the company and all shareholders, and after consultation with the actual controller of the target company, the company has decided to terminate this transaction.

Secretary Hu Lei stated that the company currently has no plans to continue investing in Speed Technology.

Public information shows that Dengyun Shares controlling shareholder, Yikai Ruihai, as the executive transaction partner of Speed Cloud Image (one of the shareholders of Speed Technology), holds 64.87% of the property share; the subscribed shareholder Shanghai Huiquan Series is controlled by Yang Tao, the actual controller of Dengyun Shares.

Dengyun Shares stated in the acquisition plan that the company entered the mining industry through mergers and acquisitions in 2021. Speed Technology has basic technology and patents related to smart mines, so it will play an important role in improving the exploration efficiency of the company's mining business, promoting mining operation and management efficiency, and mining. Safety production and emergency management.

According to previous reports from Caixin News, some analysts believe that Dengyun Shares' acquisition of Speed Technology is a cross-border transaction, and the synergies between the two companies are weak. This has also become the focus of investor attention at this briefing.

Regarding investors' concerns about the proportion of revenue and technical reserves of Speed Technology in the mining industry, Secretary Hu Lei only stated, "As of now, the company has not disclosed relevant data, nor does it exist. Matters that should be disclosed but have not been disclosed."

Public information shows that this is Dengyun Shares' second cross-border acquisition. In 2021, Dengyun Shares, which focuses on the research and development, production, and sales of automotive engine series products, acquired Beijing Huanglongjintai Mining Co., Ltd. and entered the gold mining and selection industry.

In recent years, the proportion of revenue from high-quality gold mining and selection business has gradually increased. According to the company's 2023 annual report, the revenue of the "high-quality gold" business accounted for 16.92%, and the gross profit margin was as high as 53.59%, far higher than the 24.44% of the automotive parts business. With the recent rise in gold prices, it further raises the contribution of this business to profits.