Yangjie Technology(SZ:300373) Sou Hu Cai Jing·2025-09-18 08:53Core Viewpoint - Yangjie Technology (300373.SZ) announced a cash acquisition of 100% equity in Better Electronics for RMB 221.8 million, which will make Better Electronics a wholly-owned subsidiary of the listed company [1][5]. Group 1: Acquisition Details - The acquisition price is based on the equity assessment value provided by a qualified evaluation agency, amounting to RMB 221.8 million [1]. - The assessment value of Better Electronics' total equity as of the evaluation benchmark date is RMB 222 million, representing an increase of RMB 162.08 million (270.46%) compared to the book value of RMB 59.92 million on the parent company's financial statements [5]. - The transaction is classified as a related party transaction and requires approval from the shareholders' meeting, with related shareholders abstaining from voting [5]. Group 2: Performance Commitments - The performance commitment stipulates that Better Electronics must achieve a total net profit of no less than RMB 555 million from 2025 to 2027 [5]. - If the net profit falls below 90% of the target by the end of 2027, the performance commitment party will compensate up to RMB 1.108 billion [5]. - There is also a provision for a performance excess reward of up to RMB 40 million [5]. Group 3: Strategic Fit and Background - Better Electronics specializes in power electronic protection components, which align with Yangjie Technology's current product offerings, creating synergy in end-user applications [8]. - Established in 2003, Better Electronics has clients including major companies like Midea, Gree, and BYD, and had its IPO application accepted in June 2023 but withdrew it in August 2024 [8][9]. - Yangjie Technology, founded in 2000, transitioned from a trading company to a manufacturing entity and was listed in 2014, achieving revenue of RMB 5.404 billion and a net profit of RMB 1.06 billion in 2022 [9].