Ceepower (SZ:300062) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-12-06 04:53Core Viewpoint - The company is planning to acquire 65% stakes and associated debts in three subsidiaries, which will become its controlling subsidiaries after the transaction, enhancing its product offerings in the high-voltage sector and aligning with its development strategy [1][2]. Group 1: Acquisition Details - The company intends to purchase 65% equity and debts of Shandong Dacheng Electric Co., Ltd. (CNY 96.3169 million), Shandong Dacheng High Voltage Switch Co., Ltd. (CNY 114 million), and Shandong Waterfa Chixiang Electric Co., Ltd. (CNY 81.6871 million) [1]. - The total base price for the equity and debts of the three companies is CNY 4.71 billion, CNY 1.95 billion, and CNY 1.91 billion respectively [1]. - The acquisition is expected to be classified as a major asset restructuring but will not involve related party transactions or changes in control, and the company's stock will not be suspended [1]. Group 2: Strategic Rationale - The acquisition is aimed at enhancing the company's product range in the high-voltage sector, filling existing gaps, and leveraging synergies to improve market share and competitiveness [2]. - The company will participate in a public bidding process for the acquisition, with a required deposit of CNY 100 million, introducing uncertainty regarding the success of the bid [2]. Group 3: Financial Performance - In the first ten months of 2025, Shandong Dacheng Electric Co., Ltd. reported a loss of CNY 30.8315 million, while Shandong Dacheng High Voltage Switch Co., Ltd. incurred a loss of CNY 14.1375 million; however, Shandong Waterfa Chixiang Electric Co., Ltd. achieved a net profit of CNY 10.5418 million [1]. - The company reported a total revenue of CNY 957 million in the first three quarters, a year-on-year decrease of 4.3%, but managed to turn a profit with a net profit of CNY 5.1124 million [3].