JINZI HAM(SZ:002515) 3 6 Ke·2025-09-24 04:09Core Viewpoint - The semiconductor industry is attracting significant interest from various companies, including Jinzi Ham, which is diversifying into this sector through a substantial investment in Zhongsheng Microelectronics [2][4]. Investment Details - Jinzi Ham plans to invest up to 300 million yuan to acquire up to 20% equity in Zhongsheng Microelectronics, driven by the growth potential in the AI and optical communication sectors [2][4]. - The investment will occur in two rounds, with the first round involving 100 million yuan based on a pre-investment valuation of Zhongsheng Microelectronics between 1 billion and 1.3 billion yuan [4][5]. - Zhongsheng Microelectronics, founded in 2019, specializes in high-speed optical module core chip design and has been recognized in the "China Future Unicorn TOP100" list for two consecutive years [4]. Financial Performance - Zhongsheng Microelectronics reported revenue of 51,110 yuan and a net loss of 20.37 million yuan in the first seven months of the year, with a total loss of 38.83 million yuan for the previous year [4]. - The company's debt-to-asset ratio improved from 84.70% at the end of last year to 17.83% by the end of July this year [4]. Market Reaction - Following the announcement of the investment, Jinzi Ham's stock price surged by 9.94% to 7.85 yuan per share, with a market capitalization increase of over 800 million yuan in a single day [3][6]. Company Background - Jinzi Ham, under the leadership of Zheng Qingsheng, has a history of cross-industry ventures, having previously attempted to diversify into various sectors, including healthcare and finance, with mixed results [7][10]. - The company has seen a decline in revenue since reaching a peak of 710 million yuan in 2020, with a reported revenue of 170 million yuan in the first half of 2025, down 14.73% year-on-year [10][12].