B-Ray Media(SH:600880) Zheng Quan Shi Bao Wang·2025-12-09 13:08Core Viewpoint - The acquisition of a 51% stake in Meijing Technology by Borui Communication is a strategic move to enhance its digital transformation and market competitiveness in the intelligent communication sector [1][4]. Group 1: Acquisition Details - Borui Communication plans to acquire a total of 51% equity in Meijing Technology, with 33.26% from Chengdu Media Group and 17.74% from Chengdu Meijing Media [1]. - After the acquisition, Meijing Technology will become a subsidiary of Borui Communication and will be included in its consolidated financial statements [1]. - The transaction price for the 51% stake is set at 66.49 million yuan, based on a valuation of 130 million yuan for Meijing Technology [3]. Group 2: Company Background and Products - Meijing Technology, established in December 2018 with a registered capital of 100 million yuan, focuses on AI-driven solutions for various industries [1][2]. - The company has developed several commercial products, including the "Yuyanzhixuan" AIGC intelligent creation platform, an intelligent media asset library, and Meijing AI TV [2]. - In 2024, the revenue from the "Yuyanzhixuan" platform is expected to account for 26.08% of total revenue, while the other two products will contribute a combined 44.34% [2]. Group 3: Financial Performance and Projections - For the fiscal year 2024, Meijing Technology is projected to generate revenue of 24.06 million yuan, with a net loss of 754,200 yuan [2]. - The company’s total assets as of June 30 were 92.40 million yuan, with net assets of 84.94 million yuan [2]. - Revenue is expected to grow to 35.53 million yuan by 2026, reaching 62.65 million yuan by 2029, with net profit projections of 602,540 yuan for the second half of this year and 1.03 million yuan by 2029 [3]. Group 4: Strategic Implications - The acquisition aligns with Borui Communication's strategy to capture market share in niche segments and enhance its production capabilities [4]. - Future collaboration with Meijing Media is planned to leverage resources and focus on intelligent communication in finance, government, and media sectors [4].