688766，大动作！今日复牌

Group 1 - The company plans to acquire a 49% stake in Noah Changtian through a combination of issuing shares, convertible bonds, and cash payments, while also raising matching funds [1][2] - Upon completion of the transaction, the company will hold 100% ownership of Noah Changtian, which was established to acquire SHM and currently holds 100% of SHM's shares [2] - The transaction is not expected to constitute a major asset restructuring, reverse listing, or related party transaction [2] Group 2 - SHM specializes in high-performance 2D NAND and derivative memory products, including 2D SLC NAND, eMMC, and MCP, with established engineering centers in South Korea and Japan [3] - The company is one of the few chip design firms with product lines in NOR Flash, EEPROM, MCU, and VCM Driver, while Noah Changtian focuses on SLC NAND, eMMC, and MCP products, indicating high synergy in products, technology, and market [3] - This acquisition aligns with the company's strategy to strengthen its non-volatile memory product layout and enhance control over SHM, thereby improving profitability and risk resistance [3][4] Group 3 - The transaction supports the company's "Storage+" strategy and overseas business expansion, aiming for a dual-driven approach in both international and domestic markets [4] - The company intends to continue focusing on non-volatile memory chips while diversifying core products, leveraging synergies between MCU, Driver, and memory products to explore broader application scenarios [4] - As of November 24, the company's stock price was 124.49 yuan per share, with a total market capitalization of 18.4 billion yuan, reflecting a nearly 120% increase since June 3 [4]