Cosonic(SZ:300793) Zheng Quan Zhi Xing·2025-08-13 16:23Transaction Overview - The company intends to acquire 100% equity of beyerdynamic GmbH & Co. KG, including all limited partnership interests and shareholder loans held by the sellers [2][10] - The acquisition is subject to approval from the company's shareholders and relevant regulatory authorities [11][15] Financial Data - The audited financial data of the target company from 2023 to May 31, 2025, shows total assets of RMB 32,583.87 million in 2025, up from RMB 26,867.98 million in 2023, indicating a growth of approximately 21% [2][4] - The net profit for the first five months of 2025 is RMB 1,268.81 million, compared to a net loss of RMB 3,558.27 million in 2023, reflecting a significant turnaround [2][4] Valuation and Assessment - The valuation of beyerdynamic GmbH & Co. KG was conducted using both market and income approaches, with the income approach yielding a value of RMB 88,800 million, representing an increase of RMB 82,648.56 million over the book value [7][9] - The assessment indicates a high valuation increase rate of 1343.56% based on the income approach [7][9] Market Position and Growth Potential - beyerdynamic GmbH & Co. KG is recognized as a leading manufacturer in the high-end audio equipment sector, with a strong brand presence and multiple international design awards [8][12] - The company plans to launch 10 new products in 2025 and 11 in 2026, which are expected to drive revenue growth, particularly in the gaming and consumer segments [8][12] Strategic Benefits - The acquisition is expected to enhance the company's market competitiveness in the high-end audio sector, expand its product offerings, and improve overall profitability [12][14] - The integration of technologies and resources from both companies is anticipated to accelerate product innovation and market expansion [13][14]