VeriSilicon(SH:688521) Zhong Zheng Wang·2025-09-19 04:53Group 1: Acquisition and Financial Details - Chipone Technology plans to acquire 97.0070% equity of Chiplet Technology through a combination of issuing shares and cash payment, with the stock resuming trading on September 12 [1] - The proposed issuance price is set at 106.66 yuan per share, which is 81.11% of the average stock price over the last 20 trading days and 69.71% of the closing price before the suspension [1] - The acquisition price is significantly higher than the previous fundraising price of 72.68 yuan per share in June and slightly above the transfer price of 105.21 yuan per share in August, indicating confidence in the long-term value of Chipone Technology [1] Group 2: Order and Revenue Growth - As of the end of Q2 2025, Chipone Technology has a backlog of orders amounting to 3.025 billion yuan, maintaining a high level for seven consecutive quarters [2] - New orders signed from July 1 to September 11, 2025, reached 1.205 billion yuan, representing a substantial increase of 85.88% compared to the same period last year, with AI computing-related orders accounting for approximately 64% [2] Group 3: Chiplet Technology Overview - Chiplet Technology, established in 2018, is a leading provider of RISC-V CPU IP in China, with a workforce of 111 employees, 75.68% of whom are in R&D [3] - The company has developed over 70 IP products, including more than 20 RISC-V IPs, and has authorized over 300 global clients, making it one of the largest RISC-V IP suppliers in China [3] - Chiplet Technology achieved ISO26262 ASIL-D certification for automotive functional safety in July 2023, and its RISC-V IP business revenue ranks among the top in China [3] Group 4: Chipone Technology's Market Position - Chipone Technology is recognized as a leader in the AI ASIC sector, leveraging its extensive IP and chip customization capabilities to provide comprehensive chip design services [4] - In the first half of 2025, AI computing-related revenue accounted for approximately 52% of the company's chip design business [4] Group 5: RISC-V Industry Development - Chipone Technology has been actively involved in the RISC-V industry for over seven years, founding the China RISC-V Industry Alliance in 2018, which now has 204 member units [5] - The company has organized multiple RISC-V industry forums, promoting over 40 domestic RISC-V chip products [5] Group 6: Future Prospects and Strategic Goals - The acquisition of Chiplet Technology will enhance Chipone Technology's capabilities in RISC-V, allowing for a more comprehensive heterogeneous computing IP platform [7] - The integration of Chiplet Technology's RISC-V IP will enable Chipone Technology to offer differentiated and competitive chip solutions for AI ASIC applications [7] - The transaction is expected to boost Chipone Technology's total assets and revenue, enhancing its market competitiveness and industry influence [8]