The Science and Technology Innovation Board Daily reported on March 8 (Reporter Chen Junqing): Another merger and reorganization by a Science and Technology Innovation Board company.

On the evening of March 7, Zhongke Tongda issued a suspension announcement regarding the planning of issuing shares and paying Cash to acquire assets and raise supporting funds.

The announcement shows that Zhongke Tongda is planning to acquire 100% equity of StarHub Power (Beihai) Technology Co., Ltd. (hereinafter referred to as 'StarHub Beihai') held by Shenzhen StarHub Power Technology Co., Ltd. (hereinafter referred to as the trading party) through issuing shares and paying Cash and to raise supporting funds. Upon completion of this transaction, the company will directly Hold 100% equity of StarHub Beihai.

Zhongke Tongda stated that this transaction is expected to constitute a major asset restructuring and will not lead to changes in the company's controlling shareholder or actual controller, nor will it constitute a restructuring listing. The company’s Stocks will be suspended from trading from the opening of the market on March 10, with the suspension expected to last no more than 5 trading days.

In terms of transaction progress, on March 7, Zhongke Tongda signed a 'Cooperation Intent Agreement' with the trading party. This transaction is still in the planning stage, and related matters remain uncertain, with specific transaction plans still under discussion.

The target of this transaction, StarHub Beihai, was established in April 2023, with Zeng Huijing as the legal representative. He also serves as the Director and General Manager of the company. Business information shows that StarHub Beihai is wholly owned by the trading party. The actual controller is Zheng Yongxi, who directly and indirectly Holds 51.5% of StarHub Beihai's shares.

On the trading party side, the Chairman of Shenzhen StarHub Power Technology Co., Ltd. is also Zheng Yongxi. This company completed its Series A financing in October 2023, with investors including Shenzhen Venture Capital and Tongchuang Weiye.

The reporter from the Star Daily noticed that the recruitment website of Shenzhen StarHub Power Technology Co., Ltd. shows that the company's brands include StarHub Power and Shenzhen StarHub Power Technology.

Among them, StarHub Power is dedicated to providing intelligent construction, digital operation, and cross-industry cooperation solutions for central state-owned enterprises in the Energy, Communications, and Finance sectors. The company's main Business includes providing intelligent overall solutions for leading group clients such as CHINA MOBILE, China United Network Communications, Petrochina, Ping An Group, China UnionPay, China Post, and AutoNavi.

The announcement shows that the acquired symbol StarHub Beihai license project includes Category II value-added telecommunications services and Internet information services.

The official website of Zhongketech shows that the company is a large-scale enterprise with a high focus on the public security informationization field. The company's products and Technology are deeply integrated with the national information innovation industry development Global Strategy, based on video image processing and Big Data technology, providing professional platform products, solutions, and technical services to clients in fields such as video cloud+, public security Big Data governance, relationship maps and technical warfare models, integrated intelligence in public security and civil service, refined traffic governance, smart safe communities, and intelligent grassroots policing.

Zhongketech's investor relations activity record for November 2024 shows that the company's revenue and profit mainly come from traditional public security and government informationization Business. It has been dedicated to transforming and upgrading its original Business, expanding from public security informationization to digital social governance and public service Business, from a single G-end public security client to B-end government-enterprise clients.

The reporter from the Star Daily noticed that most of StarHub Power's downstream clients are central state-owned enterprises, which aligns closely with Zhongketech's strategy of expanding to B-end government-enterprise clients.

In terms of performance, Zhongketech recently announced its 2024 annual performance briefing, showing that in 2024, the company achieved revenue of 0.35 billion yuan, a year-on-year increase of 59.54%; it realized a net income attributable to the parent company of -17.3102 million yuan, a narrowed loss compared to the same period last year, with a year-on-year increase of 83.11%.