Group 1 - The core viewpoint of the article highlights the recent surge in mergers and acquisitions (M&A) activity among companies listed on the STAR Market, driven by ongoing policy incentives and increased market vitality [1] - As of September 9, 2023, there have been 73 newly disclosed M&A transactions on the STAR Market since 2025, including 24 transactions involving the issuance of shares or convertible bonds and 7 significant cash transactions [1] - This trend is seen as a catalyst for listed companies to accelerate their journey towards high-quality development [1]

Core Viewpoint - Jing Sheng Co., Ltd. (688478.SH) is facing market competition pressure and plans to enhance its profitability through an external acquisition of Beijing Weizhun Intelligent Technology Co., Ltd. [1] Group 1: Acquisition Details - Jing Sheng intends to acquire 100% of Weizhun Intelligent's shares through a combination of issuing shares and cash payments, thereby gaining control over the company [3] - The acquisition is part of a strategy to vertically integrate the semiconductor industry chain, extending Jing Sheng's business into terminal product applications [1][6] - The transaction price for the shares to be issued is set at 28.93 yuan per share [4] Group 2: Financial Performance - In the first half of 2025, Jing Sheng reported a revenue of 158 million yuan, a year-on-year decrease of 20.29%, and a net loss of 7.45 million yuan, marking a shift from profit to loss [1][9] - The company's gross margin significantly dropped to 3.87% in the first half of 2025, down from 35.22% in 2022 [11][9] - Weizhun Intelligent has shown rapid growth in profitability, with revenues of 70.73 million yuan, 115 million yuan, and 73.93 million yuan from 2023 to the first half of 2025, respectively [12] Group 3: Market Reaction - Following the announcement of the acquisition plan, Jing Sheng's stock price fell over 12% intraday on September 9, closing down 9.14% at 37.97 yuan per share [2][8] Group 4: Strategic Rationale - The acquisition is expected to enhance Jing Sheng's market expansion capabilities and strengthen relationships with existing customers while attracting new clients [6] - The integration of Weizhun Intelligent's assets is anticipated to improve Jing Sheng's overall financial performance and operational synergy post-acquisition [13]

Core Viewpoint - Jing Sheng Co., Ltd. (688478.SH) is facing market competition pressure and plans to enhance its profitability through external mergers and acquisitions by acquiring Beijing Weizhun Intelligent Technology Co., Ltd. [1] Group 1: Acquisition Details - Jing Sheng intends to acquire 100% of Weizhun Intelligent's shares through a combination of issuing shares and cash payments, while also raising supporting funds [3] - The acquisition price for the shares is set at 28.93 yuan per share, with the transaction's audit, evaluation, and due diligence still pending [3] - The acquisition aims to vertically integrate the semiconductor industry chain by extending Jing Sheng's business into terminal product applications [4] Group 2: Financial Performance - In the first half of 2025, Jing Sheng reported a revenue of 158 million yuan, a year-on-year decrease of 20.29%, and a net loss of 7.45 million yuan, marking a shift from profit to loss [1][7] - The company's gross margin significantly dropped to 3.87% in the first half of 2025, down from 26.07% in 2024 [8] - The decline in profitability is attributed to industry cyclicality, temporary changes in product acceptance structure, and a decrease in gross margin for photovoltaic products [7] Group 3: Weizhun Intelligent's Performance - Weizhun Intelligent has shown rapid growth in profitability, with revenues of 70.73 million yuan, 115 million yuan, and 73.93 million yuan from 2023 to the first half of 2025, and net profits of 1.11 million yuan, 27.53 million yuan, and 28.09 million yuan respectively [9] - The acquisition is expected to enhance Jing Sheng's total assets, net assets, revenue, and net profit, thereby improving its ongoing operational capacity [9]

Core Viewpoint - Jing Sheng Co., Ltd. (688478) is focusing on mergers and acquisitions amid pressure on its performance, as it plans to acquire all shares of Beijing Weizhun Intelligent Technology Co., Ltd. and raise supporting funds [1][3]. Group 1: Acquisition Details - The acquisition involves issuing shares and paying cash to purchase all shares of Weizhun Intelligent from ten trading parties, allowing Jing Sheng to gain control over the company [3]. - The transaction is expected not to constitute a major asset restructuring but will be classified as a related party transaction [3]. - Weizhun Intelligent specializes in the research, production, and sales of testing equipment in the wireless communication field, primarily focusing on wireless signal comprehensive testing instruments and high-precision direct flow control power supplies [3]. Group 2: Financial Performance - Jing Sheng's financial performance has been declining, with a projected net profit drop in 2024 compared to the previous year, and a net loss reported in the first half of this year [1][6]. - For the first half of the year, Jing Sheng reported revenue of approximately 158 million yuan, a year-on-year decrease of 20.29%, and a net loss of about 7.45 million yuan [7][8]. - The company attributes its losses to cyclical industry fluctuations, temporary changes in product acceptance structure, and declining gross margins on photovoltaic products [8]. Group 3: Future Strategies - To address its losses, Jing Sheng plans to maintain high R&D investment, focus on market demand, and seek partnerships that can create win-win situations through mergers and acquisitions [8]. - The company aims to enhance its operational management and reduce costs while expanding its product offerings in the semiconductor field [8]. Group 4: Market Reaction - Following the announcement of the acquisition, Jing Sheng's stock opened slightly higher but experienced a significant drop of nearly 12% during the trading day, closing down 9.14% at 37.97 yuan per share, with a total market capitalization of 5.254 billion yuan [8].

Core Viewpoint - Jing Sheng Co., Ltd. (688478) is focusing on mergers and acquisitions amid pressure on performance, as it plans to acquire all shares of Beijing Weizhun Intelligent Technology Co., Ltd. and raise matching funds [1][3]. Group 1: Acquisition Details - The company intends to purchase all shares of Weizhun Intelligent from ten trading parties through a combination of issuing shares and cash payments, while also raising additional funds [2][3]. - The transaction is expected not to constitute a major asset restructuring but will be classified as a related party transaction [3]. - Weizhun Intelligent specializes in the research, production, and sales of testing equipment in the wireless communication field, focusing on comprehensive testing solutions [3]. Group 2: Financial Performance - Jing Sheng Co., Ltd. reported a decline in net profit for 2024, with a loss in net profit for the first half of this year [1][6]. - The company’s revenue for 2023 and 2024 is projected to be approximately 406 million yuan and 425 million yuan, respectively, with corresponding net profits of about 71.02 million yuan and 53.75 million yuan [6]. - In the first half of this year, the company experienced a 20.29% decline in revenue, amounting to approximately 158 million yuan, and a net loss of about 7.45 million yuan [6]. Group 3: Future Strategies - The company plans to maintain high R&D investment and seek partnerships in synergistic areas to enhance profitability and operational capabilities [7]. - The acquisition of Weizhun Intelligent is seen as a way to vertically integrate the supply chain, linking upstream semiconductor production to end-product applications [3][7]. Group 4: Market Reaction - On September 9, the company's stock opened slightly higher but fell nearly 12% during the trading session, closing down 9.14% at 37.97 yuan per share, with a total market capitalization of 5.254 billion yuan [8].

重要内容提示： 已披露增持计划情况 南京晶升装备股份有限公司（以下简称"晶升股份"或"公司"）于 2025 年 4 月 11 日披露了《南京晶升装备股份有限公司关于控股股东、实际控制人兼 董事长增持公司股份计划的公告》（公告编号：2025-011），公司控股股东、实际 控制人兼董事长李辉先生计划使用其自有资金或自筹资金，自 2025 年 4 月 11 日起 6 个月内，通过上海证券交易所交易系统允许的方式（包括但不限于集中竞 价和大宗交易等）增持公司股份，合计增持金额不低于人民币 1000 万元（含） 且不超过人民币 2000 万元（含）。 增持计划的实施进展 截至本公告披露日，李辉先生通过上海证券交易所系统集中竞价交易方式增 持公司股份 252,707 股，占公司股份总数的 0.1826%，已增持金额约为人民币 7,379,002.72 元（不含交易费用），已达到本次增持计划增持金额下限 1000 万 元的 73.79%，本次增持计划尚未实施完毕。 证券代码：688478 证券简称：晶升股份 公告编号：2025-048 南京晶升装备股份有限公司 关于控股股东、实际控制人兼董事长增持公司股份 计划的进展暨延期 ...

Core Viewpoint - Jing Sheng Co., Ltd. (688478.SH) announced a plan to acquire control of Beijing Weizhun Intelligent Technology Co., Ltd. through a combination of issuing shares and cash payment, alongside raising supporting funds, which has led to a significant drop in its stock price [1][2]. Group 1: Acquisition Details - The company plans to purchase all shares of Weizhun Intelligent held by ten counterparties, with the transaction price yet to be finalized based on an asset evaluation report [1][3]. - The share issuance price for the acquisition is set at 28.93 CNY per share, which is 80% of the average trading price over the last 60 trading days prior to the pricing date [2][3]. - The transaction is expected to involve issuing shares to no more than 35 specific investors, with the total number of shares issued not exceeding 30% of the company's total share capital post-transaction [2][3]. Group 2: Financial Performance - As of June 30, 2025, the total assets of Weizhun Intelligent were 42.80 billion CNY, with net assets of 38.03 billion CNY [4]. - The company reported a revenue of 7.39 billion CNY and a net profit of 2.81 billion CNY for the first half of 2025 [4]. - In the first half of 2025, Jing Sheng Co., Ltd. experienced a revenue decline of 20.29% year-on-year, with a net loss of 7.45 million CNY [5][6].

Group 1 - Chip stocks opened lower on September 9, with Jing Sheng Co. falling over 10% [1] - SMIC resumed trading and dropped over 9% [1] - Other companies such as Tongfu Microelectronics, Aojie Technology, Baiwei Storage, Shengmei Shanghai, Zhichun Technology, Allwinner Technology, and Jiangbolong also experienced declines [1]

Group 1 - The core point of the article is that Jing Sheng Co., Ltd. plans to acquire a majority stake in Beijing Weizhun Intelligent Technology Co., Ltd. through a combination of share issuance and cash payment, aiming to achieve vertical integration in the semiconductor industry chain and enhance its core competitiveness [2][3] - The transaction has been approved by the board of directors and will be submitted for shareholder and regulatory approval [2] - The acquisition target, Weizhun Intelligent, is recognized as a national-level "little giant" enterprise specializing in the research, production, and sales of wireless communication testing equipment, which aligns with Jing Sheng's business in the semiconductor industry [2][4] Group 2 - The restructuring plan consists of two parts: issuing shares and cash payment for asset acquisition, and raising matching funds, with the share issuance price set at 28.93 yuan per share [3] - The total amount of matching funds raised will not exceed 100% of the asset acquisition price, and the number of shares issued will not exceed 30% of the total share capital post-transaction [3] - The lock-up period for shares obtained by the transaction counterparties will vary from 6 to 36 months based on their holding time of the target asset rights [3] Group 3 - By acquiring Weizhun Intelligent, Jing Sheng aims to extend its industry chain into downstream applications, achieving multi-dimensional synergies in business, customers, and operations [4] - This acquisition will allow Jing Sheng to directly understand end customer needs, optimize equipment R&D direction, and leverage Weizhun's existing customer resources to expand market share while reducing operational costs through resource sharing [4]

在股份锁定期安排上，交易对方因本次交易取得的晶升股份股票，根据其对标的资产权益持有时间不 同，分别设置12个月、36个月锁定期；若为符合条件的私募投资基金，且满足特定条件，锁定期可缩短 至6个月。募集配套资金认购方所获股份则自发行结束之日起6个月内不得转让。 交易完成后，葛思静及其控制主体预计持有晶升股份5%以上股份。同时，由于标的资产审计、评估工 作尚未完成，交易价格尚未最终确定，但预计本次交易不构成《上市公司重大资产重组管理办法》规定 的重大资产重组，且交易前后公司实际控制人仍为李辉，不构成重组上市。 晶升股份表示，作为半导体晶体生长设备供应商，公司主营业务为半导体级单晶硅炉、碳化硅单晶炉等 设备研发销售，属于半导体产业链"起点"环节。 通过收购为准智能，公司可将产业链延伸至下游终端应用领域，实现业务、客户、经营多维度协同，不 仅能直接掌握终端客户需求，优化设备研发方向，还可借助为准智能现有客户资源与合作基础，拓展市 场份额，同时通过资源共享降低运营成本。 晶升股份(688478)9月8日晚间公告，公司拟通过发行股份及支付现金的方式购买北京为准智能科技股份 有限公司(简称"为准智能")的大部分股权，同时募 ...