Core Viewpoint - The acquisition plan of Huibo Yuntong is ongoing, with its affiliates and Zhejiang State-owned Assets Supervision and Administration Commission planning to acquire a 32.09% stake in Baode Computer, which is seen as a strategic move to mitigate investment risks and address funding issues of Baode's major shareholder [1][3][7]. Group 1: Acquisition Details - Huibo Yuntong's affiliates, including Beijing Shenhui Jinwei and Hangzhou Chuantou, will acquire a total of 32.09% of Baode Computer's shares, with a cash investment of approximately 14.44 billion yuan, based on Baode's overall valuation of 4.5 billion yuan [4][6]. - The affiliates will contribute 9.94 billion yuan and 4.50 billion yuan respectively for the acquisition [4][5]. Group 2: Financial Performance - Huibo Yuntong's net profit has significantly declined, with a drop of over 20% expected in 2024 and a 78% decrease in the first half of 2025, indicating a substantial profit pressure despite revenue growth [1][10]. - The company reported a net profit of 0.66 billion yuan in 2020, which fell to 0.66 billion yuan in 2024, returning to 2020 levels [9][10]. Group 3: Industry Context - Baode Computer is a leading provider of information technology infrastructure in China, with annual revenues exceeding 10 billion yuan, and has shown profitability with net profits of 2.01 billion yuan and 2.35 billion yuan in 2023 and 2024 respectively [2][10]. - The acquisition is intended to help Huibo Yuntong transition from software services to a more integrated hardware-software business model, thereby expanding its business scope and improving its industry chain layout [10].
慧博云通净利降78%拟靠收购突围 关联方出手9.94亿投资