KANGXIN NEW MATERIALS(SH:600076) 2 1 Shi Ji Jing Ji Bao Dao·2026-01-21 05:30Core Viewpoint - Kangxin New Materials (600076.SH) experienced a significant drop in stock price following the announcement of acquiring a 51% stake in Yubang Semiconductor for 392 million yuan, raising concerns about the valuation and market reaction [1][2]. Group 1: Acquisition Details - The acquisition involves a cash payment of 392 million yuan for a 51% stake in Yubang Semiconductor, with a pre-investment valuation of 688 million yuan, reflecting a substantial increase of 430.80% over its net asset value of 130 million yuan [1]. - The stock price of Kangxin New Materials initially surged to a limit-up before the announcement, leading to scrutiny from the Shanghai Stock Exchange regarding the transaction's rationale and valuation [1]. Group 2: Company Response and Market Context - In response to inquiries, the company stated that premium acquisitions are common in the current market environment, and they engaged professional intermediaries for asset evaluation [2]. - The management indicated that the company's main business has faced continuous losses for several years, prompting a strategic shift towards the semiconductor sector, which is supported by government policies [2]. - The company is conducting an internal review regarding the stock price fluctuations and asserts that there are no undisclosed matters that should have been reported [2].