Analysis of Guaxiang Technology (301213)'s Strong Performance Driven by Major Asset Restructuring

Guaxiang Technology (301213) performed strongly after resuming trading on January 7, 2026, with its shares hitting a full-day limit-up and entering the strong stock pool. The core driver of this strong performance is the major asset restructuring plan released by the company in the evening of January 6 [1][2][3].

According to the plan, Guaxiang Technology intends to acquire 100% equity of Jinzhou Liaojing Electronic Technology Co., Ltd. via a combination of share issuance and cash payment, while simultaneously issuing shares to no more than 35 specific investors to raise supporting funds, with the issuance price set at 48.06 yuan per share [1][2]. This restructuring plan marks Guaxiang Technology’s strategic layout to transform from a single software monitoring system provider to a “software-hardware integrated” solution provider.

Liaojing Electronic was founded in 2007, originating from the former Liaoning Transistor Factory. It is a national-level specialized, sophisticated, unique, and new “Little Giant” enterprise as well as a Liaoning Gazelle Enterprise, with a registered capital of 57 million yuan. The company’s main business is R&D, production, and sales of military semiconductor discrete devices, circuits, and electronic components, with main products covering diodes, triodes, integrated circuits, optocouplers, etc. Its products are widely used in aerospace, aviation, ordnance, ships, electronics, nuclear physics and other fields, and it is a supporting supplier to the top ten military industrial groups [1][2][3].

[1][2]:

Reporting Period	Operating Revenue	Net Profit
2023	147 million yuan	55 million yuan
2024	114 million yuan	26 million yuan
Jan-Sep 2025	132 million yuan	41 million yuan

As of the end of Q3 2025, the owner’s equity of Liaojing Electronic is approximately 475 million yuan.

Guaxiang Technology clearly stated that this acquisition will generate “software + hardware” synergies, specifically reflected in the following aspects [1][2][3]:

, this acquisition will connect the entire industrial chain of “data algorithms – edge computing power – software architecture – core hardware – intelligent equipment” to achieve upstream and downstream collaboration. , Guaxiang Technology’s AI technical capabilities can optimize the hardware product performance parameters of Liaojing Electronic, achieving the strategic goal of “software-defined hardware”. , the two parties can jointly expand emerging civilian fields such as civilian AI edge computing power and commercial aerospace to expand market space. , it can provide military customers with full-chain solutions from core components to intelligent system platforms, enhancing comprehensive service capabilities.

On January 7, 2026, Guaxiang Technology showed a typical full-day limit-up trend [4]:

Technical Indicator	Data Performance
Closing Price	82.86 yuan
Price Change	+20.00%
Sealed Order Volume	Over 1.8 million lots
Opening Performance	Opened at the daily limit-up price

The full-day limit-up combined with a large sealed order volume indicates high market recognition of this restructuring plan and strong buying interest. However, it should be noted that there is no effective turnover during the limit-up period, and attention should be paid to the buying support strength when the limit is lifted in the future.

: 82.86 yuan is the current limit-up price; if it can effectively break through this level, it will open up upside space. The range of 85-90 yuan is the historical high area, forming a strong resistance level. : The range of 68-72 yuan is the previous consolidation platform area; 48.06 yuan is the private placement floor price, forming medium- and long-term price support [4].

The broader market performed well on the same day, with the Shanghai Composite Index hitting a 10-year high of 4083.67 points and recording 13 consecutive positive closes on the daily chart. The overall market sentiment was positive, providing a favorable market environment for the stock’s limit-up [5].

Guaxiang Technology was listed in December 2021, with its main business being R&D, production, and sales of military equipment and industrial equipment monitoring systems. Its recent performance has shown obvious pressure [2][3]:

In the first three quarters of 2025, the company achieved operating revenue of 65.3643 million yuan, a year-on-year increase of 4.86%; however, its net profit attributable to parent company was only 763,000 yuan, a year-on-year decrease of 86.14%. The company recorded a loss in the third quarter alone, and accumulated losses exceeded 10 million yuan for two consecutive years from 2023 to 2024. The company is facing multiple challenges such as rising expense pressure, continuous negative operating cash flow, and increasing debt burden [4].

This acquisition is of important “self-rescue” nature for Guaxiang Technology. From the perspective of business transformation, the company will transform from a single software monitoring system provider to a software-hardware integrated solution provider. From the perspective of performance enhancement, Liaojing Electronic’s annual operating revenue is approximately 140-150 million yuan, which will significantly expand the listed company’s revenue scale. From the perspective of technology complementarity, Guaxiang Technology’s AI capabilities and Liaojing Electronic’s hardware capabilities form good synergy. From the perspective of market expansion, it can leverage Liaojing Electronic’s channel advantages in military electronics to enter emerging markets such as AI edge computing power and commercial aerospace [1][2][3].

: Auditing and evaluation work is still in progress, and key terms such as the final transaction price and performance commitment are uncertain. No performance compensation agreement has been signed in the plan yet, and the protection for minority shareholders remains to be seen [1][2].

: Liaojing Electronic’s net profit decreased by 52.7% year-on-year in 2024 (from 55 million yuan to 26 million yuan), with large performance fluctuations, and its sustainable profitability remains to be verified [1].

: If the acquisition results in a large amount of goodwill, there will be impairment pressure if future performance fails to meet expectations.

: Guaxiang Technology’s own performance continues to deteriorate, and the acquisition is more of an “external expansion” self-rescue rather than endogenous growth.

: The short-term price increase is relatively large, which may have overdrawn future expectations, and attention should be paid to the risk of sentiment reversal.

Attention should also be paid to factors such as uncertainty in restructuring approval, whether the integration synergy between the two companies can be truly realized, fluctuations in military industry orders, and possible dilution of earnings per share due to private placement.

From the perspective of catalyst sustainability, the short-term catalyst after restructuring and resumption of trading is relatively certain. From the perspective of capital enthusiasm, the full-day limit-up combined with a large sealed order volume shows active capital scrambling. From the perspective of fundamental support, the medium- and long-term fundamental improvement remains to be verified. In the short term, it is expected to continue to rise tomorrow; if the limit is lifted, attention should be paid to the buying support strength. After consecutive limit-ups, attention should be paid to regulatory scrutiny.

Core concerns include: progress of follow-up auditing, evaluation reports and official restructuring plans; whether performance commitment clauses include bet protection; whether the integration synergy between the two companies can be truly realized; and changes in the prosperity of downstream tracks such as military electronics, commercial aerospace, and AI edge computing power.

For aggressive investors, they can participate with a small position but need to pay attention to turnover and buying support strength and strictly implement stop-loss. For conservative investors, it is recommended to wait until the limit is lifted, observe turnover and fundamental verification before deciding whether to intervene. For risk-averse investors, it is recommended to wait and see until more uncertainties are resolved.

Guaxiang Technology’s current strong performance is driven by a single event: major asset restructuring. The company intends to acquire Liaojing Electronic, a military electronic enterprise, to achieve “software + hardware” synergy and connect the entire industrial chain. This acquisition direction is in line with the current hot themes of military informatization and commercial aerospace, and has certain strategic rationality. However, investors should note risks such as transaction uncertainty, the target company’s 2024 performance decline, obvious pressure on the company’s existing business, and possible overdrawn future expectations due to excessive short-term price increases. The short-term momentum is strong but its sustainability remains to be verified, and the medium- and long-term value needs to be re-evaluated after the official restructuring plan is finalized.

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[1] Eastmoney - Guaxiang Technology Intends to Acquire 100% Equity of Jinzhou Liaojing Electronic

[2] Sina Finance - Guaxiang Technology Intends to Acquire 100% Equity of Jinzhou Liaojing Electronic

[3] Phoenix Net Finance - Guaxiang Technology Intends to Acquire 100% Equity of Liaojing Electronic, Shares Resume Trading

[4] Sohu - Accumulated Losses Exceed 10 Million Yuan in Two Years, Guaxiang Technology Plans to Acquire 100% Equity of Liaojing Electronic to Seek a Way Out

[5] The Paper - 10-Year High! Shanghai Composite Index Sets Record for Longest Consecutive Positive Closes