Swancor Advanced Materials (SH:688585) Sou Hu Cai Jing·2025-07-09 03:12Core Viewpoint - The announcement from Upwind New Materials regarding the acquisition of control by Zhiyuan Robotics has led to significant market interest, with the stock hitting the daily limit up on July 9, 2023 [1][2]. Group 1: Acquisition Details - Zhiyuan Robotics plans to establish a holding platform to acquire control of Upwind New Materials through a combination of agreement transfer and tender offer [1]. - Upon completion of the equity transaction, the controlling shareholder will change to Shanghai Zhiyuan Hengyue Technology Partnership (Limited Partnership), with Deng Taihua as the actual controller [2]. - The acquisition involves Zhiyuan Hengyue and Zhiyuan New Venture intending to acquire a total of 29.99% of shares and a tender offer for 37% of shares, with a total potential acquisition of 63.62% to 66.99% of shares [2]. Group 2: Financial Aspects - The share transfer and tender offer price are both set at 7.78 yuan per share, with the total transaction value estimated at approximately 2.1 billion yuan [2]. Group 3: Company Background - Zhiyuan Robotics, established in February 2023, is recognized as a prominent player in the embodied robotics sector and has quickly reached "unicorn" status [3]. - The company has attracted significant investment from notable firms such as Hillhouse Capital, Sequoia China, and Baidu, among others [4]. - CEO Deng Taihua, a former vice president at Huawei, and co-founder Zhi Hui Jun, a well-known figure in the tech industry, are key leaders in the company [4]. Group 4: Market Speculation - The announcement has sparked speculation about "backdoor listing" and the potential for the first embodied intelligent robotics company to enter the Sci-Tech Innovation Board [4]. - Zhiyuan Robotics has previously been rumored to be considering a public listing, as indicated by job postings for a securities affairs supervisor [4].