On the evening of December 9, Dawning Information Industry Co.,Ltd. (603019) and Hygon Information Technology Co.,Ltd. (688041) jointly announced the termination of their major asset restructuring plan. Both companies stated that the termination would not significantly impact their production, operations, or financial conditions, nor would it harm the interests of the companies or minority shareholders.
The announcement explained that since the initiation of the transaction, all parties involved had actively advanced related work. However, due to the large scale of the deal and the involvement of multiple stakeholders, the evaluation of the restructuring plan took considerable time. Given the significant changes in market conditions since the initial planning stage, the companies determined that the prerequisites for executing the restructuring were not yet mature. After friendly negotiations, thorough research, and prudent consideration, the decision was made to terminate the transaction to safeguard the long-term interests of shareholders and investors.
Both companies emphasized that their current production and operations remain normal. The termination will not affect future collaboration, with Dawning Information and Hygon Information pledging to strengthen their partnership in system-level product applications.
Industry analysts noted that the two companies have already established a complementary division of labor within China's computing ecosystem, addressing the domestic AI industry's demand for diversified computing power and specialized services. The termination of the merger will not disrupt the multi-stakeholder collaborative framework across the industrial chain nor weaken the risk resilience of China's domestic computing power system.
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