福达合金宣布终止收购光达电子52.61%股权

Core Viewpoint - Fuda Alloy announced the termination of its acquisition of 52.61% stake in Guangda Electronics, citing market conditions and changes in the target company as reasons for the decision [2][7]. Group 1: Acquisition Details - On July 13, Fuda Alloy planned to acquire 52.61% of Guangda Electronics for a total consideration of 352 million yuan [5]. - The valuation of Guangda Electronics was assessed at 670 million yuan, reflecting a 171.38% increase over its book value of 247 million yuan as of June 30, 2025 [5]. - Guangda Electronics, established in 2010, specializes in the research, production, and sales of new electronic pastes and is recognized as a national high-tech enterprise [5]. Group 2: Financial Performance - For the years 2023, 2024, and the first half of 2025, Guangda Electronics is projected to generate revenues of 1.65 billion yuan, 2.681 billion yuan, and 1.409 billion yuan, respectively, with net profits of 16 million yuan, 61 million yuan, and 27 million yuan [5]. - Fuda Alloy reported a revenue of 3.497 billion yuan for the first three quarters of the year, marking a year-on-year increase of 30.03%, and a net profit of 55.5 million yuan, up 33.52% year-on-year [7]. Group 3: Strategic Implications - The acquisition was intended to enhance Fuda Alloy's product offerings in the electrical contact industry by adding conductive silver paste to its portfolio, thereby leveraging synergies in silver powder preparation and cost management [6][7]. - The termination of the acquisition is seen as a measure to protect the interests of the company and its investors amid changing market conditions [7].