ZAISHENG TECHNOLOGY(SH:603601) Shen Zhen Shang Bao·2025-08-01 15:27Core Viewpoint - The company, Zai Sheng Technology, plans to acquire a 49% stake in Sichuan Maikelong Vacuum New Materials Co., Ltd. for a transaction price of 231 million RMB, which will allow it to gain control over Maikelong's board and consolidate it into its financial statements [1][2]. Group 1: Acquisition Details - The acquisition involves the controlling shareholder of Maikelong, Yang Xingzhi, transferring 49% of his shares to Zai Sheng Technology, while also delegating voting rights of an additional 17.6668% of shares to Zai Sheng [1][2]. - Maikelong, established in 2017, specializes in the research, production, and sales of vacuum insulation panels and related products, primarily serving high-end home appliances, cold chain, and emerging application sectors [2]. Group 2: Financial Assessment - As of the assessment benchmark date (March 31, 2025), Maikelong's total equity value is estimated at 471 million RMB, reflecting an increase of approximately 366 million RMB, or 346.18%, compared to its book net assets of 105.6 million RMB [4]. Group 3: Strategic Implications - The acquisition is expected to enhance Zai Sheng Technology's manufacturing capabilities and technical advantages, facilitating entry into the rapidly growing vacuum insulation panel market. It will leverage Maikelong's extensive sales network and quality customer resources to achieve market penetration across various product categories [5]. - The integration aims to create a complete industrial chain from material production to market distribution, thereby strengthening the company's competitive position and expanding its future growth potential [5]. Group 4: Company Performance - In Q1 2025, Zai Sheng Technology reported revenues of 324 million RMB, a year-on-year decline of 4.59%, while net profit attributable to shareholders increased by 3.69% to approximately 33.56 million RMB [5]. - The company's stock price closed at 5.1 RMB per share on August 1, with a total market capitalization of 5.21 billion RMB, reflecting a year-to-date increase of 52.24% [5].