广东宏大拟超10亿元收购长之琳控制权 补强防务装备板块

Core Viewpoint - Guangdong Hongda announced a cash acquisition of 60% equity in Dalian Changzhilin Technology Co., Ltd. for 1.02 billion yuan to strengthen its defense equipment sector and enhance future financial and operational capabilities [1] Group 1: Acquisition Details - The acquisition will make Hongda Defense the controlling shareholder of Changzhilin, with the board authorizing management to sign the equity acquisition agreement with the existing 21 shareholders [1] - A profit-sharing and compensation mechanism has been established for the next five complete accounting years (2025-2029), with specific thresholds for net profit determining the distribution of excess profits [2] Group 2: Financial Position - As of March 31, 2025, Hongda's asset-liability ratio is 50.27%, with cash reserves of 2.938 billion yuan, making the acquisition cost approximately 34.72% of its cash reserves, ensuring sufficient liquidity for normal operations [3] - The acquisition is based on a valuation method that shows Changzhilin's net asset book value at 855 million yuan and a total equity valuation of 1.701 billion yuan, reflecting a 98.97% increase [2] Group 3: Strategic Importance - The acquisition aligns with Hongda's strategic shift towards military industry, as Changzhilin specializes in aviation equipment and has complete qualifications for military supporting business [3][4] - This acquisition will enhance the depth and breadth of Hongda's defense equipment business, significantly increasing the scale of assets, revenue, and profits in the military sector [4] - The integration of Changzhilin's capabilities in aircraft and engine component manufacturing will complement Hongda's existing military business, improving competitiveness in the defense equipment industry [4]