Zheng Quan Shi Bao Wang·2025-12-05 13:05Core Viewpoint - The company is actively expanding its chip business through acquisitions, including the purchase of stakes in two high-quality firms, which will enhance its competitive position in the semiconductor industry [1][2]. Group 1: Acquisitions and Market Response - On December 5, the company disclosed its indirect stake in Moore Threads through a subsidiary, leading to a 4.01% increase in its stock price, closing at 10.37 yuan per share [1]. - The company announced the acquisition of 51% stakes in Better Life for 321 million yuan and Shanghai Tongtu for 357 million yuan [1]. Group 2: Target Companies and Their Strengths - Better Life is a leading design firm in the mixed-signal chip sector, particularly in fingerprint recognition for smart locks, and ranks first in its industry [2]. - Shanghai Tongtu specializes in IP technology licensing and chip design, with leading capabilities in video compression and AMOLED display driving technology, having successfully licensed its IP to over 20 medium and large chip companies [2]. Group 3: Strategic Goals and Business Integration - The core objective of these acquisitions is to create a deep complementarity and comprehensive reinforcement with the existing chip business, accelerating technological upgrades and market expansion [2]. - The company aims to enhance its overall competitiveness in the chip industry and promote rapid development of its core chip business through the integration of technologies, products, and customer resources from the acquired firms [2][3]. Group 4: Business Overview and Strategy - The company operates in both outdoor and semiconductor industries, with its chip business including subsidiaries that are leaders in various specialized areas, such as MiniLED display driver chips and infrared thermal imaging detectors [3]. - The company has established a dual-main business strategy of "outdoor + chip," planning to further integrate its chip business and resources through both organic growth and acquisitions to increase revenue and profit contributions from this sector [3].