【风口解读】智洋创新将停牌，筹划收购灵明光子控制权

Group 1 - The core point of the article is that Zhiyang Innovation (688191.SH) is planning to acquire control of Shenzhen Lingming Photon Technology Co., Ltd. through stock issuance, convertible bonds, and cash payments, which is expected to constitute a major asset restructuring and related party transaction [1] - The stock of Zhiyang Innovation will be suspended from trading starting February 4, 2026, for a period not exceeding five trading days [1] - Lingming Photon, founded in May 2018, specializes in single-photon avalanche diodes (SPAD), which are essential components for 3D perception in modern electronic devices, applicable in automotive, smartphones, robotics, automation, human-computer interaction, and smart home sectors [1] Group 2 - In September of the previous year, Lingming Photon announced the completion of its C3 round of financing, securing nearly 100 million yuan from a state-owned platform in Zhejiang Province [1] - Lingming Photon reported a "explosive" growth in business, with its automotive laser radar receiver chip shipments leading the market, and significant commercial breakthroughs in array solutions for consumer-grade robots [1] - Zhiyang Innovation's main business focuses on providing AI solutions for industries such as electricity, water conservancy, rail transportation, and new energy [2] - For the first three quarters of 2025, Zhiyang Innovation achieved an operating income of 753 million yuan, a year-on-year increase of 11.38%, and a net profit attributable to shareholders of 45.94 million yuan, up 24.97% year-on-year [2]