Newtouch(SH:688590) Mei Ri Jing Ji Xin Wen·2025-09-25 04:07Core Viewpoint - New Zhisoft (688590.SH) plans to acquire 49% of Qianhai Hengdao Zhiyuan Information Technology Co., Ltd. for 48.24 million yuan, aiming to enhance its competitive position in the South China region [1][3]. Group 1: Acquisition Details - The acquisition will increase New Zhisoft's stake in Shenzhen Hengdao from 51% to 100%, achieving full control [3]. - The transaction is based on a high valuation with an assessment premium of 186.34%, indicating a significant increase in the company's value [1][6]. - The payment will be made in installments using the company's own funds, and the deal does not require shareholder approval [3][4]. Group 2: Financial Performance and Risks - Shenzhen Hengdao reported a loss of 281,000 yuan in the first half of 2025, despite a revenue target of over 30 million yuan over the next three years [6][7]. - The performance targets set for Shenzhen Hengdao include achieving revenues of 118.5 million yuan, 133.5 million yuan, and 153.5 million yuan for 2025, 2026, and 2027, respectively [6][7]. - New Zhisoft's goodwill is expected to increase significantly post-acquisition, raising concerns about potential impairment if performance targets are not met [7].