AMD(SZ:002623) Mei Ri Jing Ji Xin Wen·2026-01-13 09:04Core Viewpoint - The announcement by Amatton regarding the nomination of Lin Kan, the son of the actual controller and chairman Lin Jinx, as a non-independent director marks a significant step towards the "second-generation succession" within the company [1][3]. Group 1: Board Changes - Amatton plans to increase its board members from 8 to 9 by nominating Lin Kan as a non-independent director, pending approval from the shareholders' meeting [1][3]. - Lin Kan, aged 38, has been the general manager of Fengyang Silicon Valley since 2017 and is expected to play a more direct role in the company's management [3][4]. Group 2: Business Context - Fengyang Silicon Valley is Amatton's largest supplier of photovoltaic glass substrates, and its operations are closely linked to Amatton's core business of photovoltaic glass processing [4]. - The entry of Lin Kan into the board is seen as a move to enhance governance and align with future development needs [3][4]. Group 3: Competition Issues - The announcement highlights potential competition between Amatton's planned 500,000-ton photovoltaic glass production line in the UAE and Fengyang Silicon Valley's operations [4][5]. - Lin Kan is expected to provide a commitment to resolve any potential competition issues within five years, which may involve business adjustments or asset restructuring [5][7]. Group 4: Historical Context - Amatton has previously attempted to acquire Fengyang Silicon Valley, with two failed attempts in December 2021 and November 2023, due to high asset valuation concerns [6]. - The company had faced scrutiny from the Shenzhen Stock Exchange regarding the high valuation rate of 261.08% during a proposed acquisition [5][6].