LY iTECH(SZ:002600) Ju Chao Zi Xun·2025-11-01 07:46Core Viewpoint - The company, Lingyi Technology, announced a cash acquisition of 96.15% equity in Zhejiang Xianglong Machinery for 2.404 billion yuan, which will be consolidated into its financial statements post-transaction [1][3]. Group 1: Acquisition Details - The acquisition involves a cash payment of 2.404 billion yuan for a majority stake in Zhejiang Xianglong, which specializes in the research and manufacturing of power transmission system components for the automotive industry [1][3]. - The transaction does not qualify as a related party transaction or a major asset restructuring [1]. Group 2: Financial Performance of Zhejiang Xianglong - Zhejiang Xianglong reported a revenue of 1.994 billion yuan and a net profit of 127 million yuan for the year 2024, with a revenue of 969 million yuan and a net profit of 92 million yuan for the first half of 2025 [3]. - The company also demonstrated strong cash flow with a net cash flow from operating activities of 153 million yuan [3]. - An explicit performance commitment has been established, with the seller guaranteeing net profits of no less than 175 million yuan, 200 million yuan, and 225 million yuan for the years 2025 to 2027, totaling a minimum of 600 million yuan over three years [3]. Group 3: Strategic Implications - The acquisition is positioned to enhance the company's capabilities in AI terminals and humanoid robots, aligning with its goal to become a leading diversified manufacturing platform [3]. - The automotive industry is undergoing significant transformation towards electrification and intelligence, and this acquisition aligns with these trends, potentially allowing the company to capture a larger market share in the growing electric vehicle sector [4]. - By integrating Zhejiang Xianglong's expertise in power transmission systems, the company aims to strengthen its position within the new energy vehicle supply chain and open new avenues for future growth [4].