NSIG(SH:688126) Chang Jiang Shang Bao·2025-05-21 23:36Core Viewpoint - The company, Hu Silicon Industry, is planning a significant acquisition of approximately 7.04 billion yuan to purchase minority stakes in three subsidiaries, which are currently operating at a loss. This acquisition is expected to impact the company's financial performance negatively in the short term [1][5]. Group 1: Acquisition Details - The acquisition involves purchasing stakes in Shanghai Xinsheng Crystal Semiconductor Technology Co., Ltd., Shanghai Xinsheng Crystal Science and Technology Co., Ltd., and Shanghai Xinsheng Crystal Rui Semiconductor Technology Co., Ltd. The total transaction price is approximately 70.40 billion yuan, with 3.24 billion yuan in cash and 67.16 billion yuan in shares [2][3]. - The targeted subsidiaries have reported continuous losses, with projected net losses of 46.21 million yuan, 89.91 million yuan, and 28.71 million yuan for the year 2024, totaling around 165 million yuan [4]. Group 2: Financial Performance - The company reported a net loss of 9.71 billion yuan for 2024, a significant decline of 620.28% year-on-year, primarily due to lower sales and average prices of semiconductor wafers [8]. - In the first quarter of the current year, the company experienced a net loss of 2.09 billion yuan, continuing the trend of financial underperformance [8][9]. - Cumulatively, the company has reported a total net loss of 11.80 billion yuan for 2024 and the first quarter of the current year [9]. Group 3: Market Position and Strategy - Hu Silicon Industry is a leading player in the semiconductor wafer industry, focusing on expanding production capacity and optimizing product offerings to maintain its competitive edge [6][4]. - The company has been actively investing in expanding its production capabilities, including a planned investment of 13.2 billion yuan to increase the production scale of 300mm wafers [6].