押宝高速通信线缆，金富科技跨界谋变

Core Viewpoint - Jinfu Technology is planning to acquire at least 51% of Guangdong Lanyuan Technology, aiming to diversify its business and enhance profitability and competitiveness, despite the uncertainties surrounding the transaction [3][4][5]. Group 1: Acquisition Details - Jinfu Technology signed a Letter of Intent for the acquisition, with the final price to be determined based on due diligence and audit reports, and the exclusivity period lasting until December 20, 2025 [3]. - Lanyuan Technology, established in 2022, specializes in high-speed communication cables primarily used in AI servers and data centers, with a projected global market size of 1.9 billion by 2025 [3]. - The acquisition is seen as a high-risk, high-reward opportunity, with challenges related to business synergy between Jinfu Technology's plastic packaging and Lanyuan Technology's communication cable sectors [5][8]. Group 2: Financial Considerations - As of Q3 2025, Jinfu Technology reported a cash balance of approximately 201 million, indicating potential financial pressure from a cash acquisition [6]. - The company has faced declining revenues, with a reported revenue of about 662 million, down 9.12% year-on-year, and a net profit of approximately 93.44 million, down 19.45% year-on-year for the first three quarters of 2025 [7][8]. Group 3: Strategic Implications - Jinfu Technology is pursuing a dual strategy of developing its own business while exploring external growth opportunities, with the acquisition of Lanyuan Technology being a key part of this strategy [8]. - Experts suggest that while the acquisition may not have immediate synergies, the long-term investment value in high-speed communication cables is promising due to ongoing digitalization and infrastructure demands [8].