Dingtong(SH:688668) Chang Jiang Shang Bao·2025-11-12 23:41Core Viewpoint - Dingtong Technology (688668.SH) is enhancing its industrial layout through the acquisition of a 70% stake in Shenzhen Blue Ocean Vision Technology Co., Ltd. for 126 million yuan, aiming for deep technological synergy and resource integration [2][3][6]. Group 1: Acquisition Details - The acquisition price for the 70% stake in Blue Ocean Vision is set at 126 million yuan, and the company will become a subsidiary of Dingtong Technology post-transaction [3]. - Blue Ocean Vision specializes in machine vision equipment, providing advanced visual inspection and quality control services across various sectors, including AI and consumer electronics [3][4]. - Since its establishment in 2022, Blue Ocean Vision has shown rapid growth, with projected revenue of 61.81 million yuan in 2024, a 441.83% increase from 2023 [3]. Group 2: Financial Performance - Dingtong Technology reported a net profit of 177 million yuan for the first three quarters of 2025, marking a 125.39% year-on-year increase [2][7]. - The company's revenue for the same period reached 1.156 billion yuan, reflecting a 64.45% growth, with a significant increase in both net profit and non-recurring net profit [7][8]. - The strong performance is attributed to high market demand driven by AI, particularly in the communications connector business [8]. Group 3: Research and Development - Blue Ocean Vision has been increasing its R&D investment significantly, with expenditures of 16,040 yuan, 121,700 yuan, and 533,480 yuan from 2022 to 2024, respectively [5]. - The cumulative R&D investment over the past three years accounts for 8.75% of total revenue, indicating a strong commitment to innovation [5]. - Dingtong Technology has also been investing in R&D, with expenses rising from 65.57 million yuan in 2022 to 82.68 million yuan in the first three quarters of 2025 [9]. Group 4: Operational Capacity and Future Plans - Dingtong Technology operates four production bases, with plans to expand capacity through leasing and new investments, including a 15 million USD investment in a wholly-owned subsidiary in Vietnam [10]. - The company aims to optimize its strategic layout and expand its overseas market presence, leveraging its technological expertise in the connector industry [10].