Core Viewpoint - Company Weiman Sealing (301161.SZ) is acquiring the remaining 49% stake in Shanghai Jiano Sealing Technology Co., Ltd. for 204 million yuan, aiming to enhance its core competitiveness and achieve full control over the subsidiary [1][3]. Group 1: Acquisition Details - The acquisition will increase Weiman Sealing's ownership of Shanghai Jiano from 51% to 100% [1][3]. - The previous acquisition of 51% of Shanghai Jiano was completed in March 2024 for 213 million yuan, with Shanghai Jiano becoming a subsidiary [2][3]. - The valuation for the current acquisition remains unchanged from the previous transaction, reflecting a total valuation of 502 million yuan for 100% of Shanghai Jiano's equity [3][4]. Group 2: Financial Performance - In the first year post-acquisition, Shanghai Jiano achieved a net profit of 71.84 million yuan, exceeding its performance commitment by 173% [1][5]. - For 2024, Weiman Sealing reported revenues of 716 million yuan, a year-on-year increase of 97.02%, and a net profit of 53.17 million yuan, up 43.35% [5][6]. - In the first quarter of 2025, Weiman Sealing's revenue reached 181 million yuan, with net profits continuing to grow by 26.92% year-on-year [6]. Group 3: Strategic Implications - The acquisition is expected to enhance Weiman Sealing's control over Shanghai Jiano, improve market expansion capabilities, and diversify product offerings [6]. - The integration of Shanghai Jiano is anticipated to optimize resource allocation, reduce costs through scale procurement, and improve operational efficiency [6].
唯万密封推2亿收购全控上海嘉诺 标的并表首年业绩承诺完成率173%