LY iTECH(SZ:002600) Chang Jiang Shang Bao·2025-12-28 23:19Core Viewpoint - The company, Lingyi Technology, is actively expanding its business through acquisitions, with a recent announcement to invest 875 million yuan to acquire a 35% stake in Dongguan Liminda Electronics, focusing on the AI server liquid cooling sector [1][7]. Group 1: Company Background and Leadership - Zeng Fangqin, known as the "Queen of the Fruit Chain," has a strong background in precision manufacturing and has successfully transitioned Lingyi Technology from a single component supplier to a comprehensive precision manufacturing service provider [2][3]. - The company initially gained recognition by becoming a supplier for Nokia and later expanded into Apple's supply chain, which significantly boosted its growth [3][4]. Group 2: Business Strategy and Expansion - Lingyi Technology has undergone a strategic transformation, moving from reliance on a single client to diversifying its customer base by targeting major domestic clients like Vivo, OPPO, and Huawei [4][5]. - The company has made significant acquisitions to build a vertically integrated supply chain, including the purchase of Salcomp Plc and other firms to enhance its capabilities in various sectors, including 5G and electric vehicles [6][7]. Group 3: Financial Performance - In the first three quarters of 2025, Lingyi Technology reported a revenue of 37.59 billion yuan, a year-on-year increase of 19.25%, and a net profit of 1.941 billion yuan, up 37.66% [8]. - The company's stock price has nearly doubled in 2025, reaching a market capitalization of 112.5 billion yuan, reflecting strong investor confidence [1][8]. Group 4: Future Outlook - Lingyi Technology's ongoing diversification efforts and strategic acquisitions are expected to open new growth avenues, particularly in the AI server liquid cooling market [1][9].