YAPP(SH:603013) Zhong Guo Jing Ji Wang·2025-05-28 03:21Core Viewpoint - The acquisition of approximately 54.50% of Shanghai Winshun Electric Technology Co., Ltd. by Yapu Co., Ltd. for about 578 million yuan is aimed at enhancing Yapu's competitiveness in the automotive parts sector and leveraging synergies between the two companies [1][2]. Group 1: Acquisition Details - Yapu plans to use its own funds to acquire shares from various stakeholders of Winshun Technology, with a total transaction price of approximately 578 million yuan [1]. - The acquisition will make Yapu the controlling shareholder of Winshun Technology, which specializes in the research and production of rotary transformers and special motor products [1][2]. - The estimated valuation of Winshun Technology is approximately 1.06 billion yuan, based on an asset appraisal report that indicates a net asset value of 503 million yuan and an assessed value of 1.205 billion yuan, reflecting a 139.62% increase [2]. Group 2: Financial Performance - Winshun Technology reported revenues of 312 million yuan and 74.44 million yuan for the years 2024 and Q1 2025, respectively, with net profits of 54.72 million yuan and 14.10 million yuan for the same periods [3][4]. - Yapu's total revenue for 2024 was 8.076 billion yuan, a decrease of 5.91% year-on-year, while net profit increased by 7.29% to 500 million yuan [5][6]. - In Q1 2025, Yapu's revenue was 1.975 billion yuan, a 6.23% increase compared to the same period last year, with a net profit of 129 million yuan, reflecting a 0.90% increase [7][8].