SIASUN(SZ:300024) Xin Lang Cai Jing·2025-12-25 12:41Core Viewpoint - The announcement of the acquisition by the humanoid robot leader, UBTECH, to purchase 43% of Fenglong shares for 1.665 billion RMB has sparked significant market interest, especially given that the acquisition price is 10% lower than the pre-suspension price, raising questions about the implications of such a discount [1][8]. Group 1: Acquisition Details - UBTECH, a major player in the humanoid robotics sector with a market capitalization in the hundreds of billions, is set to gain control of Fenglong, which could transform it from a traditional manufacturing company into a leading humanoid robotics stock in A-shares [3][10]. - The acquisition is seen as a potential "backdoor listing," which could significantly alter Fenglong's valuation if UBTECH's assets are injected into the company, creating a narrative of transformation from a conventional business to a high-growth tech entity [4][11]. Group 2: Market Reactions and Implications - The 10% discount on the acquisition price has raised concerns among shareholders about Fenglong's valuation; however, it may indicate UBTECH's strong negotiating position or the urgency of the previous major shareholders to divest [6][13]. - The market's perception of UBTECH's brand strength is crucial, as the narrative surrounding the restructuring could lead to a premium far exceeding the initial discount, suggesting a potential for significant market activity in the robotics sector and M&A concepts [7][14]. - The news signals a strong trend of industrial capital integration and highlights A-shares' embrace of hard-tech giants, with expectations of increased activity in the robotics sector and related mergers and acquisitions [15].