Prevail(SZ:300710) Sou Hu Cai Jing·2025-12-04 08:37Core Viewpoint - Wanlong Optoelectronics is shifting its focus to the infrastructure digitization sector after previous failures in the new energy vehicle market, planning to acquire control of Zhejiang Zhongkong Information Industry Co., Ltd. through a share issuance and cash payment [1][2]. Group 1: Acquisition Details - The acquisition involves purchasing control of Zhongkong Information and other shareholders' stakes, with the transaction classified as a related party transaction and expected to constitute a major asset restructuring [1][4]. - Zhongkong Information had previously attempted an IPO but withdrew its application in August 2024 after facing inquiries from the Shenzhen Stock Exchange regarding its actual controller's changes and potential legal issues [1][4][6]. - The acquisition is significant as Zhongkong Information's revenue in 2023 exceeded 3 billion yuan, with a net profit of approximately 150 million yuan, making its scale about ten times that of Wanlong Optoelectronics [2][12]. Group 2: Financial Performance - Wanlong Optoelectronics has faced continuous losses, with revenues declining from 531 million yuan in 2022 to 346 million yuan in 2024, and net losses increasing from 21.5 million yuan to 199 million yuan during the same period [9][12]. - In contrast, Zhongkong Information reported revenues of 3.08 billion yuan, 3.33 billion yuan, and 3.18 billion yuan from 2021 to 2023, with net profits of 150 million yuan, 159 million yuan, and 146 million yuan respectively [12]. Group 3: Management Changes - Following the entry of Shaanxi tycoon Fu Xiaotong in 2024, significant management changes occurred at Wanlong Optoelectronics, with a focus on seeking new growth points rather than injecting existing assets [10][11]. - The newly appointed general manager, Li Xiaohu, has extensive experience in investment and mergers and acquisitions, indicating a strategic shift in the company's operational focus [12].