Jing Ji Guan Cha Bao·2025-09-09 09:47Group 1 - The core point of the article is the significant progress in the acquisition plan of SMIC, which aims to buy 49% of the minority stake in SMIC North through the issuance of A-shares at a price of 74.2 yuan per share, resulting in SMIC holding 100% of SMIC North after the transaction [2][3] - The acquisition is seen as a strategic move to consolidate ownership, as most shareholders of SMIC North have state-owned backgrounds and clear exit demands, with investment durations nearing or exceeding ten years [2][3] - Post-acquisition, SMIC North's profits will be fully included in SMIC's net profit, enhancing SMIC's financial performance and market competitiveness [3] Group 2 - The acquisition involves several state-backed entities, including the National Integrated Circuit Industry Investment Fund, which holds a 32% stake and has a strong exit demand as it enters its recovery phase [3][4] - SMIC aims to enhance its capacity and technology through this acquisition, solidifying its core position in the domestic and global semiconductor supply chain [4] - The semiconductor industry is experiencing a surge in mergers and acquisitions, with companies like Chipone and Huahong Semiconductor also pursuing strategic acquisitions to enhance their competitive edge [5][6] Group 3 - The trend of mergers and acquisitions in the semiconductor sector reflects a strong demand for technological upgrades and market expansion, driven by the rapid development of emerging technologies such as 5G and AI [6] - Companies are leveraging acquisitions to quickly gain necessary technologies and market resources, thereby accelerating their development pace and avoiding competition issues [6]