Major stock suddenly halts acquisition of storage assets! Stock price once surged over 320% in half a year

KaiPu Cloud (688228) had been planning a six-month acquisition but announced its termination.

On the evening of February 24, KaiPu Cloud announced the termination of its major asset restructuring.

In late August 2025, KaiPu Cloud announced its plan to purchase 70% of Nanning Taike Semiconductor Co., Ltd. (hereinafter referred to as “Nanning Taike”) held by Shenzhen Jintai Ke Semiconductor Co., Ltd. (hereinafter referred to as “Shenzhen Jintai Ke”) through cash payment, and to acquire the remaining 30% stake in Nanning Taike held by Shenzhen Jintai Ke by issuing shares and raising supporting funds.

The counterparty in this transaction is Shenzhen Jintai Ke, and the target asset is Nanning Taike. Shenzhen Jintai Ke is a shareholder of Nanning Taike and currently holds 100% of its equity.

According to the plan, KaiPu Cloud intends to acquire all of Shenzhen Jintai Ke’s storage product business. The specific plan is for Shenzhen Jintai Ke to transfer its operational assets related to storage products to its wholly owned subsidiary Nanning Taike. The company will purchase 100% of Nanning Taike’s equity through cash payments and share issuance.

According to available information, Shenzhen Jintai Ke is a professional provider of storage products and solutions, with main products including memory, solid-state drives, embedded products, etc., covering consumer, industrial control, and enterprise-level multi-tier applications.

KaiPu Cloud previously disclosed that Shenzhen Jintai Ke has become a core component supplier for companies such as Lenovo, Tongfang, Haier, Acer, and is the exclusive domestic supplier for certain leading server manufacturers. Additionally, Shenzhen Jintai Ke’s enterprise DDR4 shipments remain leading domestically, and it is also a top domestic manufacturer for enterprise DDR5 memory products, maintaining a stable technological lead over domestic competitors in advanced enterprise DDR5 product technology.

KaiPu Cloud’s main business involves software development and the sale of hardware and software products, including AI large models and computing power, AI content security, digital intelligence sources, and digital governance.

The company stated that after the completion of this transaction, Nanning Taike would become a controlling subsidiary. While retaining the original listed company’s business, the company would add storage product-related operations, expanding its business scope to further enhance overall competitiveness and market influence.

Since the second half of 2025, the global storage industry has experienced a fierce “price hike,” with stock prices of listed storage industry chain companies both domestically and internationally soaring. Influenced by the acquisition of storage assets mentioned above, KaiPu Cloud’s stock price also surged continuously.

According to Wind data, from August 8, 2025 (before trading suspension) to January 27 of this year, KaiPu Cloud’s stock price increased by over 320%. However, starting from the end of January this year, the stock price experienced a significant correction, with a limit-down on February 2. From January 28 to February 24, the cumulative decline exceeded 45%. On February 24, KaiPu Cloud closed at 144.6 yuan per share, with a total market value of about 9.8 billion yuan.

Regarding the sudden termination of this acquisition, KaiPu Cloud stated that due to changes in the market environment, the two parties failed to reach a consensus on the core terms of the transaction. Based on prudence, the company decided to terminate this major asset restructuring.

KaiPu Cloud also mentioned that it will continue to actively develop through both organic growth and external acquisitions, enhancing computing power operation and data storage capabilities, continuously building an integrated “compute-storage-operation” AI infrastructure, and deepening the application of AI technology in core scenarios for industry clients.

On the evening of February 24, KaiPu Cloud also disclosed a share repurchase plan. It intends to use its own funds to repurchase shares worth no less than 50 million yuan and no more than 100 million yuan, at a price not exceeding 315 yuan per share.

(Source: Securities Times)