FSPG(SZ:000973) Zheng Quan Shi Bao Wang·2025-04-29 15:55Core Viewpoint - Foshan Fospower Technology Co., Ltd. plans to acquire 100% of Jinyi Co., Ltd. through a combination of issuing shares and cash payment, aiming to expand its presence in the new energy lithium battery separator market [1][2]. Group 1: Acquisition Details - The total transaction price for the acquisition is 5.08 billion yuan, with 4.68 billion yuan paid through share issuance and 400 million yuan in cash [1]. - The company will also issue shares to its controlling shareholder, Guangxin Group, to raise up to 1 billion yuan for supporting funds [1]. - This transaction constitutes a major asset restructuring but does not result in a change of control for the listed company [1]. Group 2: Strategic Positioning - Fospower Technology is positioned as an important listed platform under Guangxin Group in the new materials sector, with a current focus on optical films, biaxially oriented films, and protective materials [2]. - The acquisition of Jinyi Co., Ltd. will enhance Fospower's product competitiveness through resource integration and industrial synergy [2]. Group 3: Jinyi Co., Ltd. Overview - Jinyi Co., Ltd. specializes in the research, production, and sales of lithium battery wet separators, holding an 18% market share in China's wet separator market, ranking second in the industry [2]. - The company has established strong partnerships with leading domestic battery manufacturers and supplies to overseas firms, indicating a robust competitive advantage in the wet separator field [3]. Group 4: Production Capacity and Technology - Jinyi Co., Ltd. has planned 46 production lines, with over 60% launched in 2023 and beyond, utilizing advanced wide-width equipment [3]. - By the end of 2024, Jinyi's operational production capacity is expected to reach approximately 5 billion square meters [3].