Chahua(SH:603615) Quan Jing Wang·2025-11-17 02:23Core Viewpoint - The acquisition of Shenzhen Dama Intelligent Co., Ltd. by Chahua Co., Ltd. marks a strategic shift towards a dual business model combining plastic home products and electronic component distribution, aiming to leverage the growth potential in the semiconductor market [1][9]. Group 1: Acquisition Details - In January 2025, Chahua Co., Ltd. acquired 100% of Dama Intelligent for 938,300 CNY and subsequently increased its capital by 45 million CNY, integrating Dama into its financial reports [1][9]. - Dama Intelligent contributed 136 million CNY in revenue during the first half of 2025, accounting for 36.48% of Chahua's total revenue, indicating the initial success of the acquisition [1]. Group 2: Market Context - The global semiconductor market reached a record sales figure of 627.6 billion USD in 2024, representing a 19.1% increase from 2023, with expectations of continued double-digit growth in 2025 [2]. - The semiconductor industry is characterized by a low domestic production rate of less than 12%, suggesting significant growth opportunities for local distributors like Dama Intelligent [5][6]. Group 3: Dama Intelligent's Business Model - Dama Intelligent operates as a key player in the electronic component distribution sector, focusing on providing comprehensive services including product selection, technical support, and logistics for various markets such as IoT and communications [6][8]. - The company aims to capitalize on the domestic semiconductor market's growth by enhancing its technical capabilities and forming strategic partnerships with major clients like Lenovo and Xiaomi [6][8]. Group 4: Financial Strategy and Future Outlook - Chahua Co., Ltd. maintains a low debt ratio of under 30%, allowing for a stable financial foundation to support the new dual business model [11]. - The company has committed to a minimum cash dividend of 20% of distributable profits over the next three years, signaling confidence in future profitability and growth [12].