Halo Micro(SH:688173) Zheng Quan Shi Bao Wang·2025-12-31 10:25Core Viewpoint - The acquisition of 100% of Shenzhen Chengxin Micro Technology Co., Ltd. by Xidi Micro for 310 million yuan marks a strategic move to enhance its position in the power management chip sector [1][2] Group 1: Acquisition Details - Xidi Micro announced the cash acquisition of Chengxin Micro for 310 million yuan, which has been in progress for over a year [1] - The initial acquisition plan was disclosed in November 2024, with a proposed payment method of "share issuance + cash" [1] - The acquisition will now be executed entirely in cash, with a performance-based incentive for Chengxin Micro's management team if certain profit targets are exceeded [1] Group 2: Financial Performance and Valuation - Chengxin Micro, established in 2009, is recognized as a national high-tech enterprise, focusing on power management chips and other integrated circuit products [2] - As of June 30, 2025, Chengxin Micro's equity value was assessed at 115 million yuan, with a valuation increase to 312 million yuan, reflecting a 171.5% appreciation [2] - The final transaction price of 310 million yuan was negotiated based on the assessed value [2] Group 3: Strategic Importance - This acquisition is part of Xidi Micro's broader industrial merger strategy, following a previous acquisition of a stake in Zinitix for 109 million yuan to expand its technology portfolio [2] - Xidi Micro's products are already integrated into major international platforms and serve notable clients in the consumer electronics and automotive sectors [2] - The integration of Chengxin Micro's technology and resources is expected to enhance Xidi Micro's product matrix and strengthen its market position in both consumer and automotive electronics [2]