OIMT(SZ:002175) Chang Jiang Shang Bao·2025-11-12 23:41Core Viewpoint - After restructuring, Dongfang Zhizao (002175.SZ) still faces significant performance pressure and has announced an acquisition plan to enhance its industrial layout through the purchase of 70% equity in Nantong Saifu Machinery Equipment Co., Ltd. for 27.4887 million yuan [1][4]. Financial Performance - In the first three quarters of 2025, Dongfang Zhizao reported revenue of 219 million yuan, a year-on-year decrease of 9.13%, and a net profit attributable to shareholders of 1.3281 million yuan, down 96.08% [1][11]. - The company's net profit after deducting non-recurring gains and losses was a loss of 1.5909 million yuan, a decline of 105.02% year-on-year [1][11]. - Since 2016, Dongfang Zhizao has not distributed dividends, with undistributed profits amounting to -1.487 billion yuan as of September 2025 [2][12]. Acquisition Details - The acquisition of Saifu Machinery is aimed at improving Dongfang Zhizao's operational status, enhancing its capabilities in high-end complete equipment manufacturing, and extending its industrial chain [9][10]. - Saifu Machinery's total assets were reported at 139 million yuan, with total liabilities of 100 million yuan and net assets of 36.2996 million yuan as of October 2025 [5]. - The seller has committed to a net profit of no less than 12 million yuan over three years post-acquisition, with annual targets of 3 million, 4 million, and 5 million yuan [10]. Market Reaction - Following the announcement of the acquisition, Dongfang Zhizao's stock price hit the daily limit, closing at 4.87 yuan per share, reflecting a 9.93% increase [6]. Corporate Structure and Control - As of September 2025, the pledge rate of Dongfang Zhizao's controlling shareholder reached 91.35% [3][12]. - The actual controller of Dongfang Zhizao, Li Bin, indirectly controls 19.21% of the company through his stake in the controlling shareholder, Kexiang High-tech [10].