破发股必易微拟现金收购 上市后连亏2年申万宏源保荐

Group 1 - The core point of the news is that Biyimi (必易微) plans to acquire 100% equity of Shanghai Xingan Semiconductor Co., Ltd. for a cash consideration of RMB 295.02 million, which will make Xingan Semiconductor a wholly-owned subsidiary of Biyimi [1] - The acquisition will be funded through the company's own or raised funds, and the company has sufficient financial reserves to manage the payment schedule effectively [1] - The transaction does not involve related party transactions and does not constitute a major asset restructuring as per the regulations [1] Group 2 - The valuation of Xingan Semiconductor's total equity is assessed at RMB 301.00 million, with an appraisal increment of RMB 218.83 million, resulting in an appreciation rate of 266.33% [1] - For the first five months of 2024 and 2025, Xingan Semiconductor reported revenues of RMB 46.70 million and RMB 18.64 million, respectively, with net losses of RMB 12.86 million and RMB 4.16 million [2] - As of May 31, 2025, Xingan Semiconductor's total assets were RMB 625.42 million, total liabilities were RMB 162.28 million, and total equity was RMB 463.14 million [4] Group 3 - Biyimi was listed on the Shanghai Stock Exchange on May 26, 2022, with a total issuance of 17.26 million shares at a price of RMB 55.15 per share, but the stock is currently trading below its initial offering price [4] - The company raised a total of RMB 952.02 million from its initial public offering, with a net amount of RMB 860.78 million after deducting issuance costs [5] - In 2023 and 2024, Biyimi reported net losses attributable to shareholders of RMB 19.07 million and RMB 17.17 million, respectively [6]