从高调布局到黯然终止：康佳集团收购宏晶微电子计划流产

Core Viewpoint - Konka Group has decided to terminate its acquisition plan for Hongjing Microelectronics due to failure to reach consensus on key terms with the counterpart, aiming to protect the interests of all shareholders, especially minority shareholders [1] Group 1: Acquisition Details - The acquisition plan involved purchasing 78% of Hongjing Microelectronics' shares and raising matching funds through issuing shares to 17 counterparties, with a share price set at 3.64 yuan, which is 80% of the average trading price over the previous 120 trading days [2] - Hongjing Microelectronics specializes in multimedia chip design, with applications in various sectors including medical, automotive, and smart manufacturing, and has developed at least 45 multimedia chip products [2][3] Group 2: Financial Performance - Hongjing Microelectronics has shown unstable financial performance, with revenues of 291 million yuan in 2022, 286 million yuan in 2023, and 269 million yuan in the first 11 months of 2024, alongside net profits of 19.41 million yuan, 27.64 million yuan, and 12.99 million yuan respectively [3] - As of November 30, 2024, Hongjing Microelectronics had total assets of 733 million yuan and total liabilities of 330 million yuan [3] Group 3: Strategic Implications - The acquisition was intended to enhance Konka Group's positioning in the semiconductor industry, particularly in high-end display terminals, and to improve the self-control capability of upstream core chips [4] - Konka Group's recent financial report indicated challenges in its strategic transformation, with a significant decline in semiconductor revenue from 340 million yuan to 17 million yuan, contributing only 1.53% to total revenue [4] Group 4: Ownership Changes - The termination of the acquisition may be linked to strategic adjustments following the change of control to China Resources, which occurred shortly after the acquisition plan was disclosed [5]