2CRSi Requests Trading Suspension Following Critical Report by Grizzly
High-performance server manufacturer 2CRSi requested the suspension of its stock trading on Euronext Thursday following the publication of a critical report by Grizzly Research. The company disputes the contents of the report and is preparing a detailed response.
A Report from Grizzly Research with Serious Allegations
On Thursday, June 18, Grizzly Research LLC released a report containing serious allegations about 2CRSi. The company's statement did not specify the detailed nature of these accusations or their scope (accounting, business practices, governance, product data). 2CRSi has reviewed the document and 'strongly' disputes its content, according to its official statement.
Requested Suspension and Internal Procedure Initiated
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2CRSi has requested Euronext to suspend trading of its shares to allow sufficient time to prepare a comprehensive response and to ensure the market has access to all relevant information. The Board of Directors has engaged the Audit and Risk Committee. The company commits to communicate as soon as possible, in accordance with its regulatory obligations.
Reservation of Rights and Lack of Financial Details
2CRSi reserves the right to take any action it deems appropriate to protect its rights, reputation, and the interests of its shareholders. The statement does not disclose the potential financial impact of this controversy nor the exact timeline for the lifting of the suspension.
SectorSemi-conducteurs et matériel›Matériel informatique / hardware
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Context
Period
Period: FY2026
Key reported figures
Revenue: 386,5 millions d'euros
Revenue growth: 75 %
EBITDA: 34,2 millions d'euros
EBITDA margin: 8,8 %
Net income: 17 millions d'euros
Guidance from the release
« Malgré les incertitudes qui existent sur le marché des serveurs, de l'intelligence artificielle et l'existence de très fortes tensions sur l'approvisionnement des composants, en particulier de la DRAM et NAND »
Risks mentioned
Incertitudes existantes sur le marché des serveurs et de l'intelligence artificielle
Très fortes tensions sur l'approvisionnement des composants, particulièrement DRAM et NAND
Dépendance aux grands comptes avec nécessité de diversifier le portefeuille clients
Opportunities identified
Projet ÆTHER Infrastructures avec mise en service d'une AI Factory 20 MW dès Q3 2027
Développement des services générateurs de marges plus élevées
Déploiement de la gamme Godì avec GPU NVIDIA B200, B300 et prochainement Rubin
Outlook / guidance
Expected revenue: 1 000 millions d'euros
Management commentary: « Malgré les incertitudes qui existent sur le marché des serveurs, de l'intelligence artificielle et l'existence de très fortes tensions sur l'approvisionnement des composants, en particulier de la DRAM et NAND, le Groupe confirme son ambition d'atteindre un milliard d'euros de chiffre d'affaires sur l'exercice 2026-2027 ; cette ambition n'intègre aucun chiffre d'affaires au titre du contrat-cadre de 610 M USD. »
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
