Lingda Group(SZ:300125) Xin Lang Cai Jing·2025-03-31 02:12Core Viewpoint - ST Lingda has faced significant challenges in the photovoltaic industry, including the suspension of its core subsidiary and the termination of a major investment project, yet its stock price has surged dramatically in the secondary market, doubling from a low of 4.18 yuan in January to a recent high of 9.33 yuan [1][7]. Group 1: Restructuring and Investment - On March 28, ST Lingda announced a restructuring investment agreement with Hefei Weidi Semiconductor Materials Co., Ltd. and Zhejiang Zhongling Technology Co., Ltd. [3] - The restructuring involves a capital increase where ST Lingda will issue 398,249,992 new shares, increasing its total share capital to 663,749,987 shares, with no distribution to existing shareholders [4]. - Key investors in the restructuring include Yunnan International Trust and other financial investors, who will acquire shares at a minimum price of 3.0889 yuan per share [5]. Group 2: Business Transition - The restructuring indicates a potential exit from the photovoltaic business as ST Lingda plans to gradually introduce core operations from Zhongling Technology, focusing on advanced materials and production capabilities [6][7]. - Zhongling Technology specializes in the development and manufacturing of precision metal masks, filling a technological gap in the domestic market and aiming to supply major OLED panel manufacturers [6].