WINNOVATION(SZ:000620) Huan Qiu Lao Hu Cai Jing·2025-10-22 06:36Core Viewpoint - The company Yingxin Development has announced a cash acquisition of 81.81% equity in Guangdong Changxing Semiconductor Technology Co., Ltd., marking a strategic shift towards the semiconductor industry, aligning with its "cultural tourism + technology" strategy [1][2]. Company Overview - Yingxin Development, previously known as Xinhua Group, is a publicly listed company involved in various sectors including cultural tourism, hotel management, real estate development, and construction services [2]. - The company has been transitioning from traditional real estate to cultural tourism and is now entering the semiconductor sector [2]. Acquisition Details - The acquisition involves Guangdong Changxing Information Management Consulting Co., Ltd. and Zhang Zhiqiang, and is aimed at enhancing the company's competitiveness and laying a foundation for future expansion in high-tech fields [1][2]. - Changxing Semiconductor, established in 2012, specializes in memory chip packaging and testing, with advanced technologies in wafer testing and repair, as well as various packaging techniques [2]. Financial Performance - Yingxin Development has faced significant financial challenges, reporting a revenue of 3.043 billion yuan in 2024, a year-on-year decline of 21.47%, and a net loss of 706 million yuan [3]. - In the first half of 2025, the company reported a revenue of 772 million yuan, a substantial drop of 50.97%, primarily due to reduced income from real estate projects [3]. - The company's real estate sales revenue plummeted by 76.84% in the first half of 2025, while the cultural tourism sector's revenue slightly decreased by 1.98%, becoming the largest business segment despite a negative gross margin of -10.37% [3].