Xiangxin Technology announced on the evening of September 17 that it has terminated the equity acquisition of a 51% stake in Suzhou Kuerxin Technology Co., Ltd. The company had originally planned to acquire a 51% stake in Kuerxin Technology through a combination of cash acquisition and capital increase, and disclosed the framework agreement announcement for the equity acquisition on June 25, 2026. It subsequently engaged intermediaries to carry out financial audits, legal due diligence, and internal control assessments, and the two parties held multiple rounds of negotiations on the transaction plan and core terms, but decided to terminate because they could not reach agreement on key terms. The company said the acquisition was still in the planning stage, the two parties had not signed a formal equity acquisition agreement, and after termination neither party bears liability for breach of contract or compensation, and there will be no material impact on its financial position or operating results. The target company Kuerxin Technology was founded in 2023 and is mainly engaged in the research, development, production, and sales of liquid cooling components, with main products including corrugated tubes and heat dissipation tube integrated modules. When Xiangxin Technology announced after market close on June 24 that it planned to acquire a 51% stake in Kuerxin Technology, the market viewed it as a liquid cooling concept stock. Its share price hit the daily limit up on June 25 and 26, and surged to 57.86 yuan per share on July 6, setting a new high for the year. It has since continued to pull back, closing at 28.28 yuan per share on September 17, down about 30% for the year and halved from its year high. In the first half of 2026, Xiangxin Technology achieved operating revenue of 4.285 billion yuan, up 19.94% year on year, while net profit attributable to shareholders of the listed company was negative 19.48 million yuan, compared with a profit of 112 million yuan in the same period last year, turning from profit to loss year on year.
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Lucky HarvestXiangxin Technology terminated its planned acquisition of a 51% stake in Kuerxin Technology after failing to agree on key terms.
