Core Viewpoint - Puran Co., Ltd. plans to acquire a 49% stake in Noah Changtian through a combination of issuing shares, convertible bonds, and cash payments, which will make Noah Changtian a wholly-owned subsidiary of the listed company [2][4]. Group 1: Transaction Details - The acquisition involves purchasing shares from Zhuhai Nuoyan, Yuanhe Puhua, and Hengqin Qiangke, with the aim of consolidating control over the target company SHM, which is already 51% owned by Puran [2][4]. - The transaction is expected to enhance Puran's control over SHM and improve its profitability and risk resilience [4][5]. - The target company SHM specializes in high-performance 2D NAND and related memory products, and is projected to be the fourth largest SLC NAND manufacturer globally in 2024 [4][8]. Group 2: Financial Performance - Noah Changtian is projected to have a revenue of 863 million yuan and a net profit of 22.45 million yuan for the fiscal year 2024, with revenues of 687 million yuan and net profits of 47.49 million yuan reported for the first eight months of the current year [4]. - Puran's revenue for the first three quarters of 2025 was 1.433 billion yuan, a year-on-year increase of 4.89%, while net profit decreased by 73.73% [8]. - The company has experienced significant increases in operating and R&D expenses, contributing to the decline in net profit [8]. Group 3: Market Context - The semiconductor memory market is undergoing rapid development, driven by increasing demand from emerging sectors such as smart vehicles and AI [8]. - The global market for SLC NAND is expected to grow from $2.31 billion in 2024 to $3.44 billion by 2029, with a compound annual growth rate of 5.8% [8]. - Puran is actively negotiating with downstream customers regarding price adjustments for NOR Flash memory chips, indicating a potential recovery in industry demand [8].

Group 1 - The company, Purun Co., plans to acquire a 49% stake in Noah Changtian through the issuance of shares, convertible bonds, and cash payments, and will raise matching funds [2][3] - Following the transaction, Purun Co. will hold 100% ownership of Noah Changtian, which was established to acquire SHM and currently holds 100% of SHM's shares [3] - The transaction is not expected to constitute a major asset restructuring or related party transaction [3] Group 2 - SHM specializes in high-performance 2D NAND and derivative memory products, with a mature sales network globally and engineering centers in South Korea and Japan [5] - Purun Co. is one of the few chip design companies with product lines in NOR Flash, EEPROM, MCU, and VCM Driver, while Noah Changtian focuses on SLC NAND, eMMC, and MCP products, indicating high synergy between the two companies [5] - The acquisition aligns with Purun Co.'s "Storage+" strategy and aims to enhance its control over SHM, thereby improving its profitability and risk resistance [6] Group 3 - The company aims to solidify its position in the non-volatile memory product sector and will continue to focus on the non-volatile memory chip field post-transaction [6] - Purun Co. is committed to a dual strategy of "Storage" and "Storage+", seeking to expand its market presence in industrial and automotive sectors while developing MCU and analog products [6] - As of November 24, Purun Co.'s stock price was 124.49 yuan per share, with a total market capitalization of 18.4 billion yuan, reflecting a nearly 120% increase since June 3 [6]

Core Viewpoint - Puran Co. plans to acquire a 49% stake in Noah Changtian, with stock resuming trading on December 9 [2][3] Group 1: Acquisition Details - The acquisition will be financed through issuing shares, convertible bonds, and cash payments [3][5] - The transaction involves multiple parties, including Zhuhai Noyan Changtian Equity Investment Fund and Anhui Gaoxin Yuanhe Puhua Private Equity Fund [5] - After the transaction, Puran Co. will hold 100% of Noah Changtian, with no performance or impairment compensation commitments set [6] Group 2: Strategic Implications - The acquisition is expected to strengthen Puran Co.'s position in the non-volatile storage product market and enhance control over SHM [6][7] - The transaction aligns with the company's "Storage+" strategy and overseas business expansion goals [7] - Puran Co. aims to diversify its core product offerings while maintaining a focus on non-volatile storage chips [7] Group 3: Market Performance - As of November 24, Puran Co.'s stock price was 124.49 yuan per share, with a total market capitalization of 18.4 billion yuan, reflecting a nearly 120% increase since June 3 [7]

格隆汇12月8日丨普冉股份(688766.SH)公布，公司拟以发行股份、可转换公司债券及支付现金的方式购 买珠海诺延、元禾璞华、横琴强科持有的诺亚长天49%的股权并募集配套资金。本次交易完成后，诺亚 长天将成为上市公司全资子公司，目标公司SHM成为上市公司全资孙公司。截至本预案签署日，标的 公司的审计、评估及尽职调查工作尚未完成，标的资产的评估值及交易价格尚未确定。 ...

Core Viewpoint - Puran Co. plans to acquire 49% equity in Noah Changtian, with stock resuming trading on December 9 [2][4] Group 1: Acquisition Details - The acquisition will be financed through issuing shares, convertible bonds, and cash payments [4] - After the transaction, Puran Co. will hold 100% equity in Noah Changtian, with no performance compensation or impairment commitments set for the deal [5] - The transaction is not expected to constitute a major asset restructuring or related party transaction [5] Group 2: Strategic Implications - The acquisition aligns with Puran Co.'s strategy to solidify its position in non-volatile storage products and enhance control over SHM [7][8] - Puran Co. aims to focus on the "storage+" strategy, expanding its overseas business while maintaining a dual domestic and international growth approach [8] - The company plans to continue developing its MCU and analog products alongside its storage offerings, potentially broadening application scenarios and customer bases [8] Group 3: Market Performance - As of November 24, Puran Co.'s stock price was 124.49 yuan per share, with a total market capitalization of 18.4 billion yuan, reflecting a nearly 120% increase since June 3 [8]

Market Performance - The A-share market saw all three major indices rise, with the Shanghai Composite Index increasing by 0.54% to close at 3924.08 points, the Shenzhen Component Index rising by 1.39%, and the ChiNext Index up by 2.6% [1] - The total market turnover reached 2.05 trillion yuan, an increase of over 310 billion yuan compared to the previous trading day, with more than 3400 stocks closing higher, including 78 stocks hitting the daily limit [1] Sector Performance - The optical packaging sector led the gains, with stocks like Dongtian Micro and Zhishang Technology hitting the daily limit of 20% [1] - Other sectors that saw gains included F5G concepts, optical fiber concepts, and high-speed copper cable connections, while coal mining and processing, Tianjin Free Trade Zone, and glyphosate concepts were among the worst performers [1] Historical Highs - A total of 49 stocks reached historical closing highs, with significant representation from the electronics, machinery, and communications sectors, which had 14, 8, and 6 stocks respectively [2] - The average increase for stocks reaching historical highs was 7.42%, with notable performers including Ruikeda, Dongtian Micro, and Zhishang Technology, all of which saw a 20% increase [2] Institutional Ratings - Six stocks received buy ratings from institutions today, including BYD, High Energy Environment, and Reader Media [4] - The average increase for stocks with buy ratings was 0.39%, underperforming the Shanghai Composite Index, with Honghe Technology hitting the daily limit [4] Net Buying and Selling - In the top stocks by net buying, 14 stocks saw net purchases exceeding 10 million yuan, with Xue Ren Group leading at 1.82 billion yuan, followed by Ruikang Pharmaceutical at 1.4 billion yuan [6] - On the selling side, Guangdong Hongda faced the highest net selling at 2.01 billion yuan, followed by Sun Cable and Lixing Co., both exceeding 89 million yuan [6] Notable Announcements - Weidi Co. plans to acquire control of Jiuxing Precision Technology, which is expected to constitute a major asset restructuring [10] - Tianfu Communication is currently planning to issue H-shares on the Hong Kong Stock Exchange [10] - Midea Group has completed a share buyback plan worth 10 billion yuan, intending to cancel 1.24% of the company's total share capital [10]

普冉股份(688766.SH)发布公告，上市公司拟以发行股份、可转换公司债券及支付现金的方式购买珠海 诺延、元禾璞华、横琴强科持有的诺亚长天49%的股权并募集配套资金。本次交易完成后，诺亚长天将 成为上市公司全资子公司，目标公司SHM成为上市公司全资孙公司。 本次交易系上市公司收购控股子公司诺亚长天的少数股权，有利于上市公司进一步夯实非易失性存储产 品布局，增强上市公司对SHM的控制力，提高上市公司的持续盈利能力和抗风险能力。本次交易前后 上市公司的主营业务范围不会发生变化。 ...

本次交易系上市公司收购控股子公司诺亚长天的少数股权，有利于上市公司进一步夯实非易失性存储产 品布局，增强上市公司对SHM的控制力，提高上市公司的持续盈利能力和抗风险能力。本次交易前后 上市公司的主营业务范围不会发生变化。 智通财经APP讯，普冉股份(688766.SH)发布公告，上市公司拟以发行股份、可转换公司债券及支付现 金的方式购买珠海诺延、元禾璞华、横琴强科持有的诺亚长天49%的股权并募集配套资金。本次交易完 成后，诺亚长天将成为上市公司全资子公司，目标公司SHM成为上市公司全资孙公司。 ...

Core Viewpoint - Puran Co., Ltd. (688766) announced a restructuring plan to acquire a 49% stake in Zhuhai Nuoya Changtian Storage Technology Co., Ltd. through a combination of share issuance, convertible bonds, and cash payment, with the stock resuming trading on December 9 [1] Group 1: Transaction Details - The acquisition involves purchasing shares from Zhuhai Nuoyan, Yuanhe Puhua, and Hengqin Qiangke, making Nuoya Changtian a wholly-owned subsidiary of Puran [1] - The transaction is not expected to constitute a major asset restructuring, a reverse listing, or a related party transaction [1] Group 2: Company Background - SHM, a semiconductor company registered in Hong Kong, specializes in high-performance 2D NAND and derivative storage products, including 2D SLC NAND, eMMC, and MCP [1] Group 3: Strategic Implications - The acquisition is aimed at strengthening the company's position in non-volatile storage products, enhancing control over SHM, and improving the company's profitability and risk resistance [1] - The main business scope of the company will remain unchanged before and after the transaction [1]

每经AI快讯，普冉股份（SH 688766，收盘价：124.49元）12月8日晚间发布公告称，公司第二届第二十 四次董事会会议于2025年12月8日以现场结合通讯方式召开。会议审议了《关于暂不召开股东会审议本 次交易相关事项的议案》等文件。 2024年1至12月份，普冉股份的营业收入构成为：集成电路占比99.99%，其他业务占比0.01%。 每经头条（nbdtoutiao）——处方药变"瘾品"：国内首次报告普瑞巴林滥用致成瘾病例，网络平台暴 露"无病历可购药"漏洞，列管与否尚需科学考量 （记者 曾健辉） 截至发稿，普冉股份市值为184亿元。 ...