Unique Research · Company / M&A · October 11, 2022
On Sep 30, 2022, Longyun Shares (龙韵股份, 603729) announced cash deal to buy 100% of Chenyue Tech (辰月科技) from Xuzhou Heheng (85%) + Huzhou Shutong (15%) for ¥200M (appraisal ¥201.6M vs book ¥17.2M, +1,073%). Chenyue (2018): Alibaba Data Bank + Strategy Center dual-certified big-data brand marketing/ops; clients Estée Lauder, Unilever, De’Longhi, Braun, Adidas, UR, Banainai, Zhou Heiya, Haier, Snowflake…; cumulative GMV >¥10B / 100+ brands. Rev ¥1.64M / ¥13.7M / ¥28.1M (’19–’21); NI −¥0.87M / ¥4.3M / ¥9.2M. Prior Jan’21 attempt failed on accounting restatement + related-party (nephew of Longyun’s Duan). Longyun positioning: “marketing data scientist” full-link brand solutions.
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