FSPG(SZ:000973) Zheng Quan Zhi Xing·2025-09-02 16:26Core Viewpoint - The acquisition of 100% equity in Hebei Jinli New Energy Technology Co., Ltd. by Foshan Fushuo Technology Group Co., Ltd. is aimed at enhancing the company's position in the lithium battery separator market, leveraging synergies in the polymer film materials sector, and addressing financial challenges faced by the target company [3][11][17]. Group 1: Transaction Rationale - The transaction allows the company to enter the lithium battery separator market, which is crucial for the growing new energy sector [11][14]. - The target company has faced financial losses due to high depreciation costs from new production lines and increased financial expenses from loans [3][23]. - The acquisition is aligned with national policies promoting mergers and acquisitions to enhance industrial integration and efficiency [11][13]. Group 2: Synergies and Integration - Both companies operate in the polymer film materials sector, allowing for potential synergies in supply chain management, procurement, and customer base expansion [4][15]. - The integration will enable the company to optimize production processes, improve product quality, and reduce costs through shared technology and resources [6][10][16]. - The target company possesses advanced production technologies for lithium battery separators, which can complement the company's existing capabilities in polymer film production [9][20]. Group 3: Market Context - The global lithium battery market is experiencing significant growth, with projections indicating a compound annual growth rate (CAGR) of 22.1% from 2024 to 2030 [25][27]. - The demand for lithium battery separators is expected to rise due to the increasing production of electric vehicles and energy storage systems [25][26]. - The target company is positioned as a leading player in the lithium battery separator market, which is characterized by high entry barriers and a concentrated competitive landscape [28].