TOREAD(SZ:300005) Shang Hai Zheng Quan Bao·2025-12-01 15:31Core Viewpoint - The company, Ternary Explorer, plans to acquire 51% stakes in Shenzhen Betlai Electronics Technology Co., Ltd. for 321 million yuan and Shanghai Tongtu Semiconductor Technology Co., Ltd. for 357 million yuan, aiming to enhance its chip business and expand its product offerings in the semiconductor market [2][4]. Group 1: Acquisition Details - The acquisitions do not constitute related party transactions or major asset restructuring and can be implemented upon board approval without requiring shareholder meetings [2]. - Betlai, established in 2011, focuses on key chip development for signal and information transmission, with products used in various sectors including consumer electronics and industrial control [2][3]. - Shanghai Tongtu, founded in 2012, specializes in chip design and has notable clients such as Huawei and OPPO, indicating a strong market presence [3]. Group 2: Financial Performance - Betlai reported revenues of 179 million yuan in 2024 and 166 million yuan from January to August 2025, with a net loss of 25.19 million yuan in 2024 but a profit of 17.73 million yuan in 2025 [3]. - Shanghai Tongtu achieved revenues of 56.06 million yuan in 2024 and 105 million yuan from January to August 2025, with net profits of 5.54 million yuan and 18.89 million yuan respectively [3]. Group 3: Performance Commitments - Betlai has performance commitments to achieve net profits of no less than 33.7 million yuan, 47.7 million yuan, and 68.6 million yuan for the years 2026, 2027, and 2028 [3]. - Shanghai Tongtu's transferors have committed to a cumulative net profit of no less than 150 million yuan over the same period [3]. Group 4: Strategic Objectives - The core objective of the acquisitions is to create a strong synergy with the existing chip business, enhancing the company's product range and customer base in the analog and mixed-signal chip markets [4][5]. - The integration of Betlai's technology and Shanghai Tongtu's IP resources is expected to bolster the company's competitive edge in display driving and video processing technologies [5].