2 1 Shi Ji Jing Ji Bao Dao·2025-07-23 13:30Core Viewpoint - Goer Technology is transitioning from a single acoustic module company to a comprehensive consumer electronics platform, as evidenced by its recent acquisition plans and IPO application for its microelectronics division [1][3]. Group 1: Acquisition Details - Goer Technology announced a preliminary agreement to acquire 100% equity of Mia Precision Technology and Changhong Industrial for approximately HKD 10.4 billion (around RMB 9.5 billion) to enhance its competitiveness in precision structural components [1]. - The acquisition aims to deepen vertical integration and strengthen partnerships with leading clients, implicitly referring to major players like Apple [1][3]. - Mia Precision and Changhong are key suppliers for Apple's metal structural components, particularly in the smartwatch segment, indicating a strategic alignment with Apple's product development [3][4]. Group 2: Market Position and Strategy - The acquisition reflects a broader trend in the supply chain where Apple encourages strategic acquisitions among core suppliers to streamline operations and reduce costs [2][4]. - Goer Technology has established itself as a supplier for various companies in the AI glasses and wearable device market, positioning itself favorably for future collaborations with Apple [3][4]. - The company aims to evolve into a subsystem integrator for Apple, similar to Luxshare Precision, thereby solidifying its status as a core supplier [7]. Group 3: Financial Performance and Future Outlook - In 2023, Goer Technology reported a revenue of RMB 98.57 billion, a decline of 6.03% year-on-year, with a net profit of RMB 1.09 billion, down 37.80%, highlighting the impact of reduced orders from Apple [7][8]. - Despite past challenges, including a significant drop in stock price, the company is expected to recover and achieve a revenue of RMB 100.95 billion in 2024, with a net profit of RMB 2.67 billion, reflecting a growth of 144.93% [8]. - The acquisition is anticipated to fill technological gaps in precision metal components, enhancing Goer Technology's competitive edge in high-value products like AI glasses and wearables [8].