Group 1 - The core point of the article is that Bozhong Precision (688097.SH) announced a cash acquisition of 70% equity in Shanghai Wodian Industrial Automation Co., Ltd. for 420 million yuan, marking its strategic entry into the automotive intelligent equipment sector [1][3] - Shanghai Wodian specializes in providing comprehensive industrial automation solutions, focusing on intelligent conveyor systems, automated testing technologies, and smart logistics units for the automotive industry [3] - The acquisition is expected to create synergies with Bozhong's existing business, which primarily focuses on consumer electronics, semiconductors, and digital equipment [4] Group 2 - Shanghai Wodian has shown strong financial performance, with projected net profits of 31.73 million yuan and 38.57 million yuan for 2023 and 2024, respectively, and a net profit of 12.64 million yuan for the first quarter of 2025 [3] - The valuation of Shanghai Wodian's total equity was assessed at 600 million yuan, representing a 352% increase compared to its net assets of 133 million yuan at the end of 2024 [3] - The acquisition will result in approximately 360 to 362 million yuan of goodwill, which may pose a risk of impairment if Shanghai Wodian's performance does not meet expectations [3] Group 3 - Bozhong Precision is currently facing performance pressures, with a projected 2.66% decline in net profit for 2024 and a revenue drop of 0.8% in the first quarter of 2025, resulting in a net loss exceeding 30 million yuan [5] - The company has a cash reserve of approximately 1.202 billion yuan against short-term liabilities of about 1.23 billion yuan, indicating potential liquidity challenges [5] - The acquisition includes performance commitments, requiring Shanghai Wodian to achieve a cumulative net profit of no less than 185 million yuan from 2025 to 2027, averaging over 60 million yuan annually [5]
高溢价跨界并购！果链巨头加码汽车智能装备