切入AI算力赛道！华懋科技 披露重大资产重组草案

Core Viewpoint - Huamao Technology is planning a significant asset restructuring by acquiring the remaining 57.84% stake in Shenzhen Fuchuang Youyue Technology Co., Ltd. for a total consideration of 1.504 billion yuan, aiming to transform into a wholly-owned subsidiary and enhance its position in the AI computing sector [2][4]. Group 1: Acquisition Details - The total consideration for the acquisition is 1.504 billion yuan, with Huamao Technology's total investment in Fuchuang Youyue reaching approximately 1.899 billion yuan [2]. - The acquisition will be executed in stages, with the first investment made at a valuation of approximately 950 million yuan, securing a 25% stake at a low price-to-earnings ratio of 7.36 times based on 2024 net profit [4]. - The final valuation of Fuchuang Youyue is set at 2.6 billion yuan, with an average price-to-earnings ratio of about 10 times based on three-year average net profit commitments [4]. Group 2: Financial Performance - Huamao Technology's revenue for 2022, 2023, and 2024 is reported at 1.637 billion yuan, 2.055 billion yuan, and 2.213 billion yuan, respectively, with net profits of 198 million yuan, 242 million yuan, and 277 million yuan [3]. - Fuchuang Youyue's revenue for 2024 is projected to be 1.231 billion yuan, reflecting a year-on-year growth of 115.8%, with a net profit of 129 million yuan, marking a significant increase of 433.63% [3]. Group 3: Strategic Transition - The acquisition is part of Huamao Technology's strategy to transition from traditional automotive safety to the rapidly growing AI computing sector, aiming for a key upgrade to a new quality production enterprise [6]. - The transaction will be financed with 68% of the consideration paid in Huamao Technology's shares, with a planned issuance of 34,315,697 shares at a price of 29.8 yuan per share [5]. - The company plans to raise up to 951 million yuan from its controlling shareholder to support cash payments and the expansion of Fuchuang Youyue's production facilities [5].