Zheng Quan Shi Bao·2025-12-16 18:11Core Insights - Yake Technology has transformed from a flame retardant manufacturer to a key player in the semiconductor materials sector, significantly enhancing its market position and growth potential [1][2]. Group 1: Company Transformation - Yake Technology, established in 1997, initially focused on flame retardants but has strategically shifted towards emerging materials since 2015, leading to a substantial increase in net profit from under 100 million yuan to 872 million yuan in 2024 [2]. - The acquisition of UP Chemical in 2016 marked a pivotal moment for Yake Technology, allowing it to enter the semiconductor materials market and secure core production capabilities for integrated circuit manufacturing [2][3]. Group 2: Strategic Acquisitions - Following the UP Chemical acquisition, Yake Technology expanded its portfolio through further cross-border acquisitions, including the purchase of LG Chem's color photoresist business, which provided access to advanced technologies and a strong customer base [4]. - In 2024, Yake Technology acquired 75.10% of SKC-ENF Electronic Materials Limited, enhancing its capabilities in semiconductor wet chemicals and broadening its service offerings to core clients [5]. Group 3: Investment Banking Support - Huatai United Securities played a crucial role in Yake Technology's transformation by designing innovative transaction structures and providing comprehensive support throughout the acquisition processes [3][4]. - The firm has extensive experience in cross-border mergers and acquisitions, enabling it to navigate complex international transactions effectively and facilitate Yake Technology's growth in the global market [6][7]. Group 4: Market Position and Future Outlook - The trend of Chinese companies pursuing cross-border acquisitions to achieve technological advancements is on the rise, with Huatai Securities positioned as a leader in this space, having facilitated nearly 600 financing transactions globally, amounting to approximately $280 billion [6]. - Huatai Securities has established a robust global value chain system, enhancing its service capabilities in the Hong Kong market and supporting various complex cross-border listing structures [6][7].