TOREAD(SZ:300005) 2 1 Shi Ji Jing Ji Bao Dao·2025-12-02 03:21Core Insights - The company Tanshan announced a significant acquisition of 51% stakes in Shenzhen Better Life Electronics Technology Co., Ltd. and Shanghai Tongtu Semiconductor Technology Co., Ltd. for approximately 680 million yuan, marking a strategic shift towards the "chip design + intelligent interaction" technology sector [1] - This acquisition is part of Tanshan's broader strategy to transition from a consumer brand to a technology platform, leveraging AI and domestic substitution trends in the industry [1] Company Overview - Better Life, established in 2011, specializes in mixed-signal chain chips and solutions, focusing on fingerprint recognition, touch chips, and dedicated MCU chips, positioning itself as a strong competitor in the AI hardware supply chain [2][3] - Shanghai Tongtu focuses on AI image and video processing, with proprietary RISC-V processor-based SOC chips aimed at the high-end OLED smartphone market, demonstrating significant advantages in display performance and cost [4][5] Financial Performance - For the first eight months of 2025, Better Life reported revenues of 166 million yuan and a net profit of 17.73 million yuan, marking a substantial recovery from previous losses [3][5] - Shanghai Tongtu achieved revenues of 105 million yuan and a net profit of 18.89 million yuan during the same period, reflecting a doubling of its performance compared to 2024 [5] Strategic Synergies - The acquisition aims to create a comprehensive ecosystem by integrating existing chip products with the new acquisitions, enhancing Tanshan's capabilities in human-computer interaction and display technologies [6][7] - Better Life's technology complements Tanshan's existing products, allowing for a broader application range in smart home, wearable, and industrial control markets [7][8] Market Positioning - The acquisition enhances Tanshan's customer base, expanding its reach into consumer electronics and high-value industrial control markets, thereby improving overall profitability [8] - Tanshan has established performance commitments with the acquired companies, ensuring accountability and potential rewards for exceeding targets, which adds a layer of financial security to the acquisition [8] Future Outlook - Tanshan's strategic vision includes leveraging its outdoor brand heritage to develop smart outdoor equipment, supported by the technological capabilities of the acquired companies [9][10] - The integration of chip technology with outdoor applications is expected to lead to innovative products that meet the unique demands of outdoor environments, positioning Tanshan as a leader in the smart outdoor equipment market [10][11]