Core Viewpoint - Yidong Electronics is expanding into the AI server liquid cooling sector through an investment in Shenzhen Guanding Metal Technology Co., Ltd, aiming to enhance its product offerings and market position in this rapidly growing industry [1][2]. Investment Details - Yidong Electronics plans to invest 61.2 million yuan to acquire a 51% stake in Shenzhen Guanding [1]. - The subsidiary, Dongguan Keli Star Electronics Co., Ltd, will increase its capital by 2.22 million yuan, while the original controlling shareholder of Shenzhen Guanding will invest 30 million yuan for a 10% stake in Keli Star [1]. Company Background - Shenzhen Guanding, established in 2012, specializes in AI computing liquid cooling solutions and is a key supplier for major clients like AVC, BOYD, and Hengyun Chang [1]. - The products are primarily used in AI servers, GPUs, and supercomputing centers, with applications in companies such as NVIDIA, Meta, AMD, Microsoft, and Intel [1]. Strategic Objectives - The acquisition is expected to broaden customer resources and enhance Yidong's liquid cooling product portfolio, allowing for quick entry into core application scenarios [2]. - The transaction aims to leverage the complementary strengths of both companies, enhancing Yidong's competitiveness in the liquid cooling sector and driving business expansion and profitability [2]. Financial Performance - Shenzhen Guanding reported revenues of 47.9 million yuan and 67.46 million yuan for the first eight months of 2024 and 2025, respectively, with a net profit of -846,200 yuan and 554,220 yuan [2]. - As of August 2025, Shenzhen Guanding's total assets were 85.26 million yuan, with a net asset value of 8.95 million yuan, leading to a post-investment valuation of 120 million yuan, reflecting a 1240.78% increase from its net assets [2]. Yidong Electronics' Performance - For the first three quarters of 2025, Yidong Electronics achieved revenues of 1.66 billion yuan, a year-on-year increase of 34.99%, and a net profit of 28.68 million yuan, up 68.39% [3]. - In Q3 2025, the company reported revenues of 650 million yuan, a 47.97% increase, with net profits growing significantly by 447.62% and 319.46% for net and non-net profits, respectively [3].
奕东电子拟6120万元收购布局液冷业务 标的8个月赚554万元估值达1.2亿