Huasu Holdings' 23.7 Million Yuan Acquisition Announcement Left Revision Marks, Deleted Figures and Terms Exposed

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In the progress announcement on the equity acquisition and signing of the equity transfer agreement disclosed by Huasu Holdings after market close today, multiple pages showed red strikethrough lines and revision records such as "Delete [Xiang]" and "Format [Xiang]". Some figures, statements, and transaction terms that had been deleted from the main text still remained on the document pages in the form of comments and revisions. The announcement returned to normal around 7 p.m. A rough count by Cailian Press reporters found more than 30 revision record tags in this 8-page PDF announcement, of which more than 20 were deletion records, with revision marks concentrated on the second page. The deleted content included the figure "15,443,275.00 yuan" in the clause where the target company, Ningxia Junfeng New Energy Technology Co., Ltd., provided joint liability guarantee for the transaction counterparty Beijing Junfa Technology Group Co., Ltd. to pay all goods payments to Chongqing Pusi New Energy Technology Co., Ltd., as well as the statement "the agreed repayment period shall not exceed 5 years" in the paragraph concerning the target company's payable balance of 16.6268 million yuan to Junfa Technology and its related parties. Looking back, Huasu Holdings planned to acquire 51% equity of Ningxia Junfeng New Energy Technology Co., Ltd. held by Junfa Technology for 23.7048 million yuan. The appraised value of all shareholders' equity of the target company was 46.5098 million yuan, an increase of 191.43% over the net asset book value of 15.9591 million yuan. Huasu Holdings' main business covers electronic information display terminals, precision machine tool manufacturing, and carbon emission governance. In the first half of 2026, it achieved operating revenue of 361 million yuan, a year-on-year decrease of 12.20%, and a net loss attributable to the parent company of 17.6605 million yuan, an expanded loss compared with the same period last year.

Impact on assets 1

Others▲
Huasu Holdings Co Ltd
000509
± MixedCapitalrelevance

Huasu Holdings' 23.7 million yuan acquisition announcement was filed with visible strikethroughs, deleted figures and revision marks, raising disclosure-quality concerns about the deal.

Off-coverage companies 3

Beijing Junfa Technology Group Co., Ltd.i
Private± MixedCapitalrelevance

Junfa Technology is the seller of the 51% Ningxia Junfeng stake and counterparty in the guarantee/payable clauses whose figures were deleted from Huasu's announcement.

宁夏君丰新能源科技有限公司i
Private± MixedCapitalrelevance

Ningxia Junfeng is the acquisition target whose 51% equity is being bought for 23.7048 million yuan, with related guarantee and payable terms revised in the announcement.

重庆普什新能源技术有限公司i
Private± Mixedrelevance