WINGTECH(SH:600745) Ju Chao Zi Xun·2025-08-10 12:16Core Viewpoint - Wentech Technology has made significant progress in the major asset sale to Luxshare Precision and its affiliates, marking a pivotal moment in the semiconductor and assembly sector for the year [2] Group 1: Asset Sale Progress - As of now, 100% equity of four companies including Kunming Zhitong, Shenzhen Wentech, Huangshi Zhitong, and Kunming Wenxin has been successfully transferred, along with the business asset package related to Wuxi Wentech and Wuxi Wenxin [2] - The asset transfer for the Indian Wentech package is nearing completion, while the equity transfer for Hong Kong Wentech and its subsidiary in Indonesia will occur swiftly after the non-trading asset divestiture [2] Group 2: Financial Implications - The total consideration for the transaction is estimated to be close to 5 billion yuan, which will allow Wentech to divest part of its communication product integration and assembly business [2] - Post-transaction, the company aims to concentrate resources on strengthening its semiconductor IDM (Integrated Device Manufacturing) core business, particularly in automotive-grade power semiconductors and advanced SiC/GaN process capacity expansion [2] Group 3: Future Growth and Market Position - After the completion of the asset sale, Wentech is expected to have ample cash to accelerate the expansion of its 12-inch automotive-grade SiC wafer factory in Shanghai and establish a module packaging center for European clients [3] - By 2026, the company's capacity for automotive-grade power semiconductors is projected to more than double, with the global market share anticipated to increase from the current 8% to 15% [3] - The asset sale is expected to significantly reduce Wentech's financial leverage and enhance the profitability visibility of its semiconductor business, with a projected increase of approximately 600 million yuan in net profit for 2025 [3]