1.15 billion in transactions: Xingxing Technology divests Gattech Research, with a net loss of 94.62 million in 2025.

On March 20, Star Technology (300256.SZ) issued an announcement stating that the company’s wholly owned subsidiary, Star Precision Technology (Shenzhen) Co., Ltd., plans to transfer its 100% equity interest in Shenzhen Gart Intelligent Research and Technology Co., Ltd. (the “Gart Intelligent Research”) to Xingqiu Beast (Shenzhen) Investment Co., Ltd. at a price of RMB 115 million. After the transaction is completed, the target company will no longer be included in the scope of the consolidated financial statements.

The announcement shows that the transaction is priced using December 31, 2025, as the valuation benchmark date. The assessed value of all shareholders’ equity of Gart Intelligent Research is RMB 92.9133 million, and the transaction premium rate is approximately 23.77%. According to the target company’s financial data, its performance has continued to incur losses in recent years. From 2023 to 2025, its net profits were -RMB 0.4325 million, -RMB 0.7789 million, and -RMB 94.6176 million, respectively. In 2025, its revenue was even 0 yuan. As of the end of 2025, its net assets were RMB 92.9133 million.

Under the terms of the equity transfer agreement, this transfer does not involve the transfer of creditor-debtor rights and obligations; the target company’s existing creditor-debtor rights and obligations will still be borne by the target company itself. The equity transfer payment will be paid in two installments: within 5 days after the completion of the industrial and commercial change of registration, the transferee will pay RMB 85 million; by June 30, 2026, the remaining RMB 30 million will be paid. The proceeds will be used to replenish Star Technology’s working capital.

It is understood that this transaction was approved on March 20 by Star Technology’s board of directors (with 7 votes in favor, all unanimous). It does not constitute a related-party transaction or a major asset restructuring. In the next step, it still needs to be submitted for deliberation at the company’s 2026 second extraordinary general meeting of shareholders. Star Technology stated that this sale is a prudent decision to optimize its business layout and resource allocation, which is conducive to improving asset quality, reducing operating costs, and is consistent with the company’s strategic development and the long-term interests of shareholders. The equity ownership of the target company is clear, with no restrictions on rights such as mortgages or pledges, and there are also no material lawsuits or disputes.

In the first three quarters of 2025, Star Technology achieved revenue of RMB 1.213 billion, and its net profit attributable to the parent company was -RMB 5.66 million.

A massive amount of information and precise interpretation—exclusively on the Sina Finance app