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Core Viewpoint - The company, Jingwei Huikai, announced a cash acquisition plan for 100% equity of Zhongxing System Technology Co., Ltd. for a total price of 850 million yuan, aiming to enter the high-growth private network communication sector [1][4]. Group 1: Acquisition Details - Jingwei Huikai plans to acquire Zhongxing System, which specializes in private network communication systems, industrial internet products, and comprehensive digital technology services [1]. - The acquisition will allow Jingwei Huikai to consolidate Zhongxing System's operations into its financial statements, enhancing its market position [1]. Group 2: Industry and Market Potential - The demand for private network communication is deepening and diversifying, with significant market opportunities in energy (smart grids), transportation (smart traffic), and industrial manufacturing (industrial internet) [2]. - Emerging scenarios such as low-altitude economy (drone communication) and smart healthcare (remote surgery) are expected to provide new growth points for private network communication [2]. - The Belt and Road Initiative and emerging markets are focusing on rail transit and smart city projects, presenting substantial international market opportunities for domestic solutions [2]. Group 3: Zhongxing System's Capabilities - Zhongxing System holds 28 authorized patents and 57 software copyrights, with core patents covering key technologies in private network communication [2]. - The company has achieved CMMI5 certification, indicating its high-level software development and project management capabilities, and has received industry recognition for its project delivery [2]. Group 4: Financial Commitments and Strategic Fit - Zhongxing System's shareholders have committed to a cumulative net profit of no less than 215 million yuan for the years 2025, 2026, and 2027 [4]. - The acquisition is expected to alleviate performance pressure from Jingwei Huikai's existing businesses, which face slow growth, by providing access to the high-growth private network communication sector [4]. - There are potential synergies between Jingwei Huikai's existing product range and Zhongxing System's capabilities, particularly in rail transit and industrial sectors [4]. Group 5: Strategic Synergies - The acquisition is anticipated to create significant synergies in the semiconductor field, enhancing Jingwei Huikai's market reach and technical capabilities in the communication industry [5]. - Zhongxing System's expertise in communication technology is expected to bolster Jingwei Huikai's strategic positioning in the semiconductor sector, promoting domestic alternatives in the RF front-end industry [5].