晶升股份半年亏745万毛利率仅3.87% 拟重组为准智能突围股价跌9.14%

Core Viewpoint - Jing Sheng Co., Ltd. (688478.SH) is facing market competition pressure and plans to enhance its profitability through external mergers and acquisitions by acquiring Beijing Weizhun Intelligent Technology Co., Ltd. [1] Group 1: Acquisition Details - Jing Sheng intends to acquire 100% of Weizhun Intelligent's shares through a combination of issuing shares and cash payments, while also raising supporting funds [3] - The acquisition price for the shares is set at 28.93 yuan per share, with the transaction's audit, evaluation, and due diligence still pending [3] - The acquisition aims to vertically integrate the semiconductor industry chain by extending Jing Sheng's business into terminal product applications [4] Group 2: Financial Performance - In the first half of 2025, Jing Sheng reported a revenue of 158 million yuan, a year-on-year decrease of 20.29%, and a net loss of 7.45 million yuan, marking a shift from profit to loss [1][7] - The company's gross margin significantly dropped to 3.87% in the first half of 2025, down from 26.07% in 2024 [8] - The decline in profitability is attributed to industry cyclicality, temporary changes in product acceptance structure, and a decrease in gross margin for photovoltaic products [7] Group 3: Weizhun Intelligent's Performance - Weizhun Intelligent has shown rapid growth in profitability, with revenues of 70.73 million yuan, 115 million yuan, and 73.93 million yuan from 2023 to the first half of 2025, and net profits of 1.11 million yuan, 27.53 million yuan, and 28.09 million yuan respectively [9] - The acquisition is expected to enhance Jing Sheng's total assets, net assets, revenue, and net profit, thereby improving its ongoing operational capacity [9]