Dare Auto(SZ:300473) Chang Jiang Shang Bao·2025-12-19 00:23Core Viewpoint - Del Corporation (德尔股份) has received approval from the China Securities Regulatory Commission for its acquisition of Aizhuo Intelligent Technology Co., Ltd. (爱卓科技) for a total of 270 million yuan, marking a significant step in its industry consolidation efforts [1][2]. Group 1: Acquisition Details - The acquisition involves Del Corporation purchasing 100% of Aizhuo Technology's shares, with 70% acquired through a share issuance and 30% through a zero-price transfer [2]. - The company plans to raise up to 82.7 million yuan in supporting funds, primarily for the smart upgrade of Aizhuo's products, the construction of a research and development center, and transaction-related fees [2]. - Aizhuo Technology, established in 2005, specializes in the R&D, production, and sales of automotive film and covering parts, serving major clients like FAW, Xiaopeng, and Faurecia [2]. Group 2: Financial Commitments and Performance - The seller, Shanghai Deri, has committed to a net profit of no less than 84.42 million yuan for Aizhuo Technology from 2025 to 2027, with specific annual targets [3]. - Del Corporation has shown significant financial recovery, with a net profit of 12.88 million yuan in 2023, a 101.41% increase year-on-year, and a projected revenue of 4.51 billion yuan in 2024, reflecting a 4.98% growth [5]. - The company has experienced a strong growth momentum in 2025, with a revenue of 3.64 billion yuan in the first three quarters, a 7.67% increase year-on-year, and a net profit of 79.23 million yuan, a 228.13% surge [5]. Group 3: R&D and Strategic Importance - Del Corporation has invested a total of 888 million yuan in R&D over the past five years, maintaining a strong focus on innovation, which is crucial for its ongoing development [1][5]. - The acquisition is seen as a strategic move to expand Del Corporation's product structure and enhance its competitive edge in the automotive parts industry, aligning with the industry's shift towards electrification [1][3]. - The company holds 625 intellectual property rights, including 570 patents, which underscores its commitment to R&D and innovation [6].