QA(SH:603758) Zhong Guo Jing Ji Wang·2025-09-19 06:29Core Viewpoint - Qin'an Co., Ltd. has announced the termination of its plan to issue shares and pay cash to acquire 99% equity of Anhui Yigao Optoelectronics Technology Co., Ltd. and will instead pursue a cash-based acquisition [1][2] Group 1: Transaction Details - The company has signed a cash acquisition intention agreement with 11 major shareholders of Yigao Optoelectronics, but the agreement is only preliminary and requires further negotiation and formal agreement [1][2] - The acquisition will be executed through a newly established wholly-owned subsidiary of Qin'an, which will pay cash to acquire the equity from the shareholders [3] - The transaction price will be paid in installments, contingent upon meeting certain payment conditions [3] Group 2: Performance Commitments - The shareholders involved in the transaction have made performance commitments, ensuring that the net profits of Yigao Optoelectronics will not be less than RMB 70 million, RMB 80 million, and RMB 90 million for the years 2025, 2026, and 2027 respectively, with a cumulative net profit of at least RMB 240 million over the three years [5][6] - The calculation of actual net profit includes audited net profit plus 70% of excess R&D expenses [6] Group 3: Financial Performance - Qin'an's revenue for 2024 was RMB 1.6 billion, a decrease of 8.04% year-on-year, while the net profit attributable to shareholders was RMB 173 million, down 33.70% [6] - In the first half of 2025, the company reported revenue of RMB 675 million, a decline of 13.18% year-on-year, but the net profit attributable to shareholders increased by 29.97% to RMB 80 million [7]