AFR(SZ:300620) Chang Jiang Shang Bao·2025-11-24 00:42Core Viewpoint - Guangku Technology is intensifying its investment in the optical communication sector by acquiring 99.97% of Suzhou Anjie Xun Optoelectronics Technology Co., Ltd. for approximately 1.64 billion yuan, aiming to enhance its market position and achieve significant synergies [1][3]. Group 1: Acquisition Details - The acquisition will be financed through a combination of issuing shares, convertible bonds, and cash payments, with an additional fundraising of up to 800 million yuan from no more than 35 specific investors [1][3]. - Anjie Xun specializes in the research, production, and sales of optical passive devices, with a strong profitability record, achieving a net profit of 82.31 million yuan in the first half of 2025 [1][3]. - The transaction includes a profit guarantee, where Anjie Xun's cumulative net profit from 2025 to 2027 is promised to be no less than 495 million yuan, with compensation mechanisms in place for any shortfall [3]. Group 2: Financial Performance - Guangku Technology reported a non-GAAP net profit of 84.74 million yuan for the first three quarters of 2025, marking a year-on-year increase of 89.72% [2]. - The company has shown a recovery in profitability, with a net profit of 67 million yuan in 2024, up 12.32% from the previous year, after experiencing declines in 2022 and 2023 [5]. - For the first three quarters of 2025, Guangku Technology achieved revenues of 998 million yuan and a net profit of 115 million yuan, reflecting year-on-year growth of 35.11% and 106.61%, respectively [6]. Group 3: Strategic Implications - The acquisition is expected to significantly enhance Guangku Technology's total assets, net assets, and net profit, contributing to a stronger market presence in the optical communication field [4]. - The company has been actively pursuing mergers and acquisitions, having completed another acquisition earlier in the year, indicating a strategic focus on expanding its capabilities and market share [4]. - Guangku Technology's revenue from optical communication reached 280 million yuan in the first half of 2025, accounting for 46.91% of total revenue, an increase from 39.28% in 2024 [4].