又一芯片巨头矽睿科技拟“曲线上市”，买壳细节曝光

Group 1 - The core viewpoint of the article highlights the increasing popularity of indirect listing methods due to tightened IPO regulations, exemplified by the acquisition of Anchek Detection by Shanghai Xirui Technology [1][2] - The transaction involves a change in control and presents an opportunity for Xirui Technology to enter the capital market [2] - The overall transaction plan includes Xirui Technology acquiring 20% of the voting rights in Anchek Detection through a combination of share purchase and voting rights delegation [3][4] Group 2 - The transaction is structured in two phases: the first phase involves purchasing 6.43% of shares for 322 million yuan at a discount, while the second phase involves the delegation of voting rights for an additional 13.57% [4] - Following the completion of the transaction, the actual controller of Anchek Detection will change to a "no actual controller" status [5] - The discounted price for control transfer is noted as being significantly lower than typical market rates, indicating a shift in market dynamics where companies are willing to sell control at lower prices to adapt to new industry trends [7] Group 3 - The acquisition signifies a shift where the asset itself, rather than the owner, becomes the controlling entity of the listed company [8] - This transaction serves as a case study for other companies looking to acquire shell companies, emphasizing that the goal is often to list assets rather than merely control a company [9] - Xirui Technology, established in 2012, is a leading player in the MEMS sensor field, indicating its strategic importance in sectors like smart automotive and consumer electronics [11] Group 4 - Xirui Technology's previous attempts to initiate an IPO in 2023 faced challenges, making this acquisition a strategic move towards a backdoor listing [12] - The sale of Xirui Technology's subsidiary for 683 million yuan to a listed company indicates ongoing strategic maneuvers within the industry [13] - The challenges of asset injection post-acquisition are highlighted, including potential accounting implications and the risk of being classified as a reverse takeover [15][17]