JSZY(SH:600770) Shang Hai Zheng Quan Bao·2025-08-11 19:14Core Viewpoint - Jiangsu Zongyi Co., Ltd. is planning a significant asset acquisition to enhance its position in the power semiconductor industry, which is expected to provide long-term growth and strategic advantages in the integrated circuit sector [7][10][44]. Group 1: Transaction Overview - The company intends to increase its stake in Jiangsu Jilai Microelectronics Co., Ltd. by investing 220 million RMB, acquiring 4,323,349.4 shares, which will represent 45.2807% of the total shares post-investment [9][47]. - The transaction is classified as a major asset restructuring, meeting the criteria set by the restructuring management measures, with revenue indicators exceeding 50% [10][58]. - The acquisition will be funded entirely through the company's own or legally raised funds [51]. Group 2: Impact on Business Operations - The acquisition will allow the company to enter the power semiconductor chip and device manufacturing sector, optimizing and extending its industrial chain [13][60]. - The target company possesses multiple wafer production lines and has established a vertical integration system covering chip design, wafer manufacturing, and packaging testing [60][44]. - This strategic move aligns with the national trend of domestic substitution in the semiconductor industry, enhancing the company's competitiveness in the power semiconductor field [14][60]. Group 3: Financial Implications - The transaction is expected to improve the company's revenue and profitability, thereby enhancing overall financial performance and risk resistance [15][62]. - The projected net profits for the target company during the commitment period are set at 26 million RMB for 2025, 33 million RMB for 2026, 41 million RMB for 2027, and 50 million RMB for 2028, indicating a strong growth trajectory [34][55]. - The company has committed to measures to prevent dilution of immediate returns, ensuring that any potential impacts on earnings per share are addressed [28][30]. Group 4: Regulatory and Approval Process - The transaction requires approval from the company's shareholders and must comply with relevant regulatory procedures [18][20]. - The controlling shareholder and management have expressed support for the transaction, emphasizing its alignment with legal and regulatory requirements [20][19]. - The company will ensure strict adherence to information disclosure obligations throughout the transaction process [21][22].