Zhitong Finance App News, Dongbai Group (600693.SH) issued a stock trading risk warning notice stating that on October 12, 2026, the company disclosed the “Notice Concerning the Proposed Acquisition of Part of the Shares of Hangzhou Kuailing Optoelectronics Technology Co., Ltd.”, and Fujian Dongbaicuangzhi Investment Co., Ltd., a wholly-owned subsidiary of the company, plans to acquire 52.6667% of the shares of Hangzhou Kuailing Optoelectronics Technology Co., Ltd. (the “Target Company”). As of the announcement disclosure date, the company has not signed a formal transaction agreement. There is significant uncertainty about whether this transaction can be implemented, and there is a risk of termination.
Currently, the main source of revenue for the target companies' related products in the field of optical communication is low-rate products. High-speed products as a whole are in the customer verification stage, with only small-batch orders. Future commercialization progress, such as factors such as weak product technical reliability, poor performance, or delayed production capacity construction, may limit the commercialization progress of related products, leading to the risk that business performance will fall short of expectations. The target company is mainly engaged in R&D, production and sales of light detection chips. Its business development is affected by a combination of factors such as changes in industry policies, changes in market demand, and technological iteration, which may lead to the risk that the business situation falls short of expectations and that performance promises cannot be fulfilled. Currently, the company is not engaged in related business and has no relevant R&D technical personnel reserves. There are risks of cross-border operation and integrated management in this transaction. If the integration falls short of expectations, it will adversely affect the profitability of the target company and the listed company.
The target company's revenue for 2025 and January-August 2026 was 397.613 million yuan and 34.8693 million yuan respectively, with net profit of -15.5722 million yuan and -2,517 million yuan respectively. The overall revenue scale is small and not yet profitable. The target company is a technology-intensive industry. It has the characteristics of high investment and long cycle time. Production line equipment investment amounts are high, R&D costs are high, and continuous technological iteration is required. For example, R&D capacity and production processes cannot meet market iterations, which may have a significant adverse impact on whether losses can be reversed in the short term and future business performance. As of August 31, 2026, the monetary fund balance of the target company was 1,938,800 yuan, the balance of transactional financial assets was RMB 7.085,800, and the balance of accounts receivable was 235.493 million yuan. Accounts receivable accounted for 23.82% of total assets. If there is a major adverse change in the business conditions of downstream customers, there may be a risk that the recovery progress of the accounts receivable will fall short of expectations or cannot be recovered, which will have a significant adverse impact on the target company's ability to continue operating.