Huakai Yibai's acquisition chain: Financial logic holds, but valuation anchors are failing

I noticed an interesting detail: Huakai Yibai announced three cross-industry acquisitions in just seven months of 2026, ranging from high-end sports goods to home medical devices and RF coaxial connectors. There is zero industrial synergy between these targets. As a company primarily focused on cross-border e-commerce, this acquisition pace looks more like using financial maneuvers to counter declining core business performance rather than strategic integration.