6 consecutive days of trading halt: Shenzhen Sea Star Technology (002137.SZ) has a subsidiary Six Degrees Harmony which currently does not have any products specifically designed for "WeChat Mini Stores".

date
26/12/2024
avatar
GMT Eight
Shenzhen Sea Star Technology (002137.SZ) announced that the closing price of the company's stock has deviated by over 20% for two consecutive trading days (December 25, 2024 and December 26, 2024). According to the relevant regulations of the Shenzhen Stock Exchange Trading Rules, the trading of the company's stock is considered to have abnormal fluctuations. The company has noticed that the market is paying attention to the concept of "WeChat Mini Stores", but the company (including its holding companies within the consolidated financial statements scope) is currently not involved in the business of "WeChat Mini Stores." The main business and products of the company are: (1) Intelligent hardware manufacturing business: mainly providing industrial equipment and engineering testing, manufacturing, supply chain management services for brand owners of new energy-related products; (2) Intelligent terminal product business: mainly designing, researching, producing, and selling LED smart lighting and related intelligent terminal products, providing LED product solutions to customers. Recently, the company has observed rumors on the internet regarding its affiliated company "Liudu Renhe" being involved in the "WeChat Mini Stores" business. The company holds a 13.0879% stake in Easy Connection (Cayman) Limited (referred to as "Liudu Renhe"), and according to confirmation from the company and Liudu Renhe, they are currently not specifically applying related products for "WeChat Mini Stores". The company accounts for Liudu Renhe's financial assets using the "fair value measurement with changes recorded in current profit and loss," Liudu Renhe is not within the company's consolidated financial statements scope, and its impact on the company's main financial indicators in the first three quarters of 2024 is relatively small. Recently, it was mentioned online that the company indirectly invested in "Yushu Technology." Regarding this investment, the specific details are as follows: a wholly-owned subsidiary of the company holds a 0.8333% stake in Zhejiang Rongteng Entrepreneurship Investment Partnership Enterprise (Limited Partnership) (referred to as "Rongteng"), and Rongteng holds a 1.3217% stake in Hangzhou Yushu Technology Limited Company (referred to as "Yushu Technology"). After the equity penetration, the company only holds a 0.011% stake in Yushu Technology, with a relatively low ownership percentage. Yushu Technology is not within the company's consolidated financial statements scope, and the company (including its holding companies within the consolidated financial statements scope) is currently not involved in Siasun Robot & Automation business.

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