北交所策略并购专题报告第九期：“精密传动+智能驱动”，鼎智科技收购赛仑特51%股权

Group 1: Core Insights - The report highlights a significant shift in the M&A landscape driven by new policies, particularly the "National Nine Articles" and "M&A Six Articles," which are expected to invigorate the market starting in 2024 [1][10][17] - The focus is on industrial integration and cross-border mergers, which are seen as vital for injecting new momentum into industry development [1][10] - The report emphasizes the importance of the Beijing Stock Exchange (BSE) in seizing M&A opportunities, particularly in integrating quality resources within the same group and expanding through "strong chain and supplement chain" mergers [1][18] Group 2: Case Study - Dingzhi Technology's Acquisition of Sailun Technology - Dingzhi Technology announced a cash acquisition of 51% of Dongguan Sailun Technology for 100.82 million yuan, aiming to enhance industrial synergy [2][23] - The acquisition is expected to leverage Sailun's high-value products, such as precision gears and gearboxes, to meet specific customer demands in micro-motor speed control and transmission [2][23] - Sailun's projected financial performance includes a net profit commitment of at least 13.5 million yuan for 2025, increasing to 24.5 million yuan by 2028, indicating strong growth expectations [2][29] Group 3: Overview of the Acquired Company - Sailun Technology specializes in small modulus gears and micro precision planetary gearboxes, focusing on replacing imported products in various applications, including medical devices and industrial automation [3][30] - The company reported revenues of 67.75 million yuan and a net profit of 13.33 million yuan in 2024, with a significant contribution to Dingzhi's overall revenue [3][30] - Sailun has established partnerships with several well-known domestic and international companies, enhancing its market position [3][35] Group 4: Overview of Dingzhi Technology - Dingzhi Technology is focused on precision motion and intelligent control solutions, with a strong emphasis on international expansion and innovation [3][37] - The company has seen a revenue growth of 20% year-on-year in the first half of 2025, with a net profit increase of 17.65%, reflecting its robust operational performance [3][44] - Dingzhi's strategic investments are aligned with its core business, aiming to enhance its competitive edge through resource integration and technological innovation [3][41]