Core Viewpoint - Defu Technology (301511.SZ) announced the termination of its acquisition of Circuit Foil Luxembourg and is planning a new acquisition of Huiru Technology, which specializes in high-performance electrolytic copper foil production [1][4][6]. Group 1: Termination of Acquisition - Defu Technology signed a share purchase agreement on July 29, 2025, to acquire 100% of Circuit Foil Luxembourg but has now decided to terminate the acquisition due to conditional approval from the Luxembourg Ministry of Economy, which limited the share purchase to a minority stake [1][3]. - The company paid a contract deposit of €17.4047 million (10% of the acquisition price) and will receive this amount back following the termination of the deal [1][3][4]. - The termination of the acquisition will not adversely affect the company's normal operations or financial status, and the company will continue to pursue its strategic development in high-end electronic circuit copper foil [4] Group 2: New Acquisition Plans - Defu Technology has signed a letter of intent to acquire at least 51% of Huiru Technology through cash purchase and capital increase, which will make Huiru Technology a subsidiary of Defu Technology [4][5]. - The transaction is still in the planning stage, and the final terms, including transaction amount, will be determined after due diligence [5][6]. - Huiru Technology has an electrolytic copper foil production capacity of 20,000 tons per year and is expected to help Defu Technology expand its production capacity to meet growing market demand [6]. Group 3: Financial Performance - Defu Technology reported a revenue of approximately ¥3.20 billion for the current reporting period, representing a 47.88% increase year-on-year, and a net profit attributable to shareholders of approximately ¥27.89 million, up 128.27% [12]. - The company has faced negative cash flow from operating activities in recent years, with a net cash flow of -¥4.13 billion for the year-to-date [11][12].
德福科技现金流连负 终止境外收购拟控股慧儒科技