Fujian Star-net Communication Co., Ltd. announced on August 14, 2026, that its wholly-owned subsidiary, Fujian Star-net Yishi Information System Co., Ltd., will increase its stake in Sonok (Beijing) Technology Co., Ltd. from 23.08% to 35.08% through a zero-cost equity transfer. According to an official disclosure filed by Star-net Communication, the transaction serves as an equity compensation settlement after Sonok failed to meet its combined 2023–2025 financial performance targets.
Performance Target Shortfall and Audit Results
Under the original investment agreement signed on September 25, 2023, Star-net Yishi invested 3,000万元 RMB (3,000万元 RMB for 1,500万元 in new registered capital) to acquire a 23.08% stake in Sonok. As part of that agreement, Sonok’s existing shareholders—including Beijing Oriental-Zhongyuan Technology Development Co., Ltd., Xinyu Sonok Enterprise Management Center, and individual founders—committed to achieving a cumulative net profit (excluding non-recurring gains and losses) of 60 million RMB across the 2023, 2024, and 2025 fiscal years.
According to the special audit report issued by the Fuzhou branch of JＴ&A Certified Public Accountants (Special General Partnership), Sonok missed these financial milestones. The company recorded a cumulative net profit of 2,879.36万元 RMB over the three-year period, achieving an overall performance fulfillment rate of 47.99%. Star-net Communication attributed the shortfall to broader macroeconomic pressures, volatile downstream terminal market demand, and slower-than-expected mass production and market launch schedules for Sonok’s proprietary three-color laser new products.
Equity Compensation Terms and Implementation
Because the cumulative net profit fell short of the 60 million RMB baseline, the triggers for equity compensation under the 2023 investment contract took effect. In March 2026, Star-net Yishi’s general manager’s office approved the compensation framework, which was subsequently ratified by Sonok’s shareholders through a formal meeting and a confirmation letter signed by the original stakeholders.
Per the agreed formula—multiplying the shortfall ratio by the transaction price—the committing shareholders agreed to transfer 12% of Sonok’s equity to Star-net Yishi at zero cost as full settlement for the missed performance target. Star-net Yishi has already signed the corresponding equity transfer agreement with the committing parties. While Sonok’s original shareholders have completed local tax declaration and payment filings for the share transfer, the formal industrial and commercial business registration update remains pending, according to the corporate filing.
Financial Impact on Star-net Communication
Following the completion of the equity transfer, Star-net Yishi’s shareholding in Sonok will climb from 23.08% to 35.08%. Star-net Communication confirmed that Sonok will not be integrated into its consolidated financial statements, and the parent company will continue to account for its long-term equity investment in Sonok using the equity method. Management stated that the compensation mechanism complies with fair market principles and will not adversely affect the company’s ongoing business operations or financial standing.
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