EMT(SH:601208) Zheng Quan Shi Bao Wang·2026-01-12 14:30Core Viewpoint - Dongcai Technology announced a high-premium equity acquisition plan to acquire stakes in Shandong Aiment New Materials Co., Ltd. and its shareholders, aiming for full control of Aiment [1] Group 1: Acquisition Details - Dongcai Technology plans to acquire 17.50% and 5% stakes in Shandong Aiment, increasing its ownership from 72.50% to 95% [1] - The total asset value of Shandong Aiment as of July 31, 2025, is 1.491 billion yuan, with a net asset value of 223 million yuan [1] - The assessed value of the equity being acquired is 451 million yuan, reflecting an appreciation rate of 102.39% [1] - The final acquisition price for the 22.50% stake is 88.2832 million yuan, leading to an overall valuation of Shandong Aiment at 392 million yuan [1] Group 2: Company Background - Shandong Aiment was established in 2019 with a registered capital of 500 million yuan, focusing on specialty chlorinated resins and phenolic resins [2] - Dongcai Technology has made several capital injections into Shandong Aiment, including 39 million yuan in August 2020 and 100 million yuan in May 2021, to support various production projects [2] Group 3: Financial Performance - In 2023, Shandong Aiment reported revenue of 496 million yuan but incurred a loss of 70.0378 million yuan, following a profit of 6.5637 million yuan in 2022 [5] - The company’s revenue for 2024 is projected at 742 million yuan, with a loss of 125 million yuan [5] - As of July 2025, Shandong Aiment's revenue reached 476 million yuan, with a loss of 53.3353 million yuan [5] Group 4: Strategic Rationale - The acquisition is expected to align with Dongcai Technology's electronic materials segment, enhancing production capacity and integrating core resources for improved operational efficiency [3] - Dongcai Technology has provided continuous financial support to Shandong Aiment, with outstanding loans increasing to 476 million yuan [3][4]