Swancor Advanced Materials (SH:688585) 2 1 Shi Ji Jing Ji Bao Dao·2025-09-25 11:38Core Viewpoint - The article discusses the recent tender offer by Zhiyuan Robotics to acquire a significant stake in Shangwei New Materials at a notably low price, amidst a backdrop of soaring stock prices and strategic maneuvers to enhance control over the company [1][3][9]. Group 1: Tender Offer Details - Zhiyuan Robotics, through its holding platform Zhiyuan Hengyue, plans to acquire 149 million shares of Shangwei New Materials at a price of 7.78 yuan per share, representing 37% of the company's total equity [1][12]. - The tender offer price is significantly lower than the current market price of 132.1 yuan per share, which is nearly 17 times higher than the offer price [3][11]. - The tender offer is primarily directed at shareholders other than the acquirer and its concerted parties, effectively excluding retail investors who entered after the announcement of the acquisition [5][9]. Group 2: Strategic Implications - The low offer price aligns with regulatory requirements, as it matches the price paid by Zhiyuan Robotics to gain control of Shangwei New Materials [9][10]. - The acquisition strategy involves a three-step process, with the current tender offer being the final step to increase ownership and control over the company [10][14]. - The purpose of the tender offer is to enhance control over Shangwei New Materials, facilitating future capital operations and ensuring sustainable development for the company [14][15]. Group 3: Market Dynamics - The stock price of Shangwei New Materials has surged by 1839.8% this year, making it the first stock to achieve a tenfold increase and subsequently a twentyfold increase [3][15]. - The concentration of shares held by Zhiyuan Robotics is expected to facilitate market management and reduce volatility, as a smaller float makes the company more susceptible to speculative trading [18]. - The strategic acquisition is seen as a way to bind upstream and downstream industry resources, potentially leading to further capital operations and asset acquisitions in the future [15][16].