得邦照明收购嘉利股份获反垄断审查通过，股价近期波动

Group 1 - The core point of the news is that Debang Lighting plans to acquire 67.48% of Jia Li Co., a company listed on the New Third Board, for approximately 1.454 billion yuan, which has raised regulatory concerns due to the transaction premium and the target company's losses [1] - On February 12, the company responded to the Shanghai Stock Exchange's inquiry, explaining the fairness of the pricing, stating that Jia Li Co. has insufficient liquidity on the New Third Board (average turnover rate of 0.28%), and the transaction pricing is based on an asset-based valuation of 1.401 billion yuan [1] - The company announced on the same day that it received a decision from the State Administration for Market Regulation indicating that no further antitrust review will be conducted, marking a key progress in the transaction [1] Group 2 - In the recent stock performance from February 6 to February 12, 2026, Debang Lighting's stock price fluctuated by 4.34%, with an amplitude of 7.52%. On February 10, the stock price significantly increased, closing at 15.24 yuan, with a single-day change of 3.25% and a trading volume of 3.6015 million shares (turnover rate of 0.76%) [2] - On February 12, the latest closing price was 15.13 yuan, with a single-day change of 0.73%. The capital flow indicated a negative net inflow of 1.0539 million yuan on February 10, which turned positive with an inflow of 0.7052 million yuan on February 11, showing that market trading activity is closely related to the progress of the acquisition [2] Group 3 - As of February 12, 2026, institutional views on Debang Lighting show general market attention, with neutral sentiment dominating at 100% in institutional ratings. Profit forecasts indicate a projected net profit decline of 17.36% for 2025, but a rebound is expected in 2026 with an 18.12% year-on-year growth [3] - There have been no new research reports recently, and institutions are observing the potential synergistic effects post-acquisition [3]