DKEM(300842) 贝壳财经·2025-05-26 10:40Core Viewpoint - The company, Dike Co., Ltd. (300842.SZ), has restarted its acquisition of silver paste assets after three years, planning to acquire 60% of Zhejiang Sote for 696 million yuan to gain control of the Solamet® photovoltaic silver paste business [2][7]. Group 1: Acquisition Details - Dike Co. plans to acquire 60% of Zhejiang Sote for 696 million yuan, making it a controlling subsidiary [7]. - The acquisition price represents a discount of approximately 10% compared to the previous valuation of 1.2816 billion yuan for 100% of Zhejiang Sote in 2021 [11]. - The funding for the acquisition will come from the company's own funds and financing through acquisition loans, with cash reserves reported at 2.595 billion yuan as of the end of Q1 [9]. Group 2: Strategic Objectives - One of the main objectives of the acquisition is to strengthen the company's patent layout in the silver paste field, addressing weaknesses in the research of photovoltaic silver paste industry mechanisms [5][12]. - The acquisition is expected to enhance the company's product system and support international expansion [12]. Group 3: Historical Context - Dike Co. previously attempted to acquire Zhejiang Sote in 2021 but terminated the deal due to changes in market conditions and failure to reach consensus with some transaction parties [4][10]. - The previous acquisition attempt was valued at 1.247 billion yuan for 100% of Zhejiang Sote, which was halted after regulatory investigations [10]. Group 4: Legal Background - Zhejiang Sote was involved in a patent lawsuit with another photovoltaic silver paste company, Juhe Materials, which was settled through a cross-licensing agreement [13][14]. - The patent in question was originally owned by DuPont and transferred to Zhejiang Sote, aligning with its acquisition of the Solamet® business [13].