世嘉科技2.75亿元布局光通信领域，收购光彩芯辰20%股权并设业绩对赌

Core Viewpoint - Sega Technology plans to acquire a 20% stake in Guangcai Xincheng (Zhejiang) Technology Co., Ltd. for a total price of 275 million yuan, with intentions for future controlling acquisition [2] Group 1: Transaction Details - The transaction consists of two parts: Sega Technology will invest 275 million yuan to subscribe to 10.0737 million yuan of new registered capital at a price of 27.2987 yuan per share, corresponding to a 13.2066% stake [2] - The remaining 6.7934% stake will be transferred from the founding shareholder Jiaxing Hetong Intelligent Technology Partnership (Limited Partnership) to Sega Technology for a total price of 1 yuan [2] - After the transaction, Sega Technology will hold a total registered capital of 15.2556 million yuan in Guangcai Xincheng, with a total valuation of 2.08229 billion yuan [2] Group 2: Financial Performance - Guangcai Xincheng has been operating at a loss, with net profits of -99.5057 million yuan in 2023, -81.6537 million yuan in 2024, and -288.5628 million yuan from January to September 2025 [3] - As of September 30, 2025, the company reported total assets of 592 million yuan, total liabilities of 178 million yuan, and total equity of 414 million yuan, resulting in a debt-to-asset ratio of 30.08% [3] Group 3: Performance Commitment - Jiaxing Hetong, as the performance guarantor, commits that Guangcai Xincheng will achieve a cumulative net profit of no less than 285 million yuan from 2026 to 2028 [4] - If the cumulative net profit does not meet the target, Jiaxing Hetong will compensate Sega Technology with shares, with a maximum compensation equal to all shares held by Sega Technology [5] Group 4: Strategic Outlook - Sega Technology views this investment as aligned with its strategic development plan, optimistic about the market prospects of the optical communication sector and Guangcai Xincheng's technological reserves and growth potential [5] - The investment is expected to leverage excess capacity and create complementary customer resources and synergies between the companies [5]