又一起重大资产重组！股价“提前”开涨

Core Viewpoint - Hunan Guoke Microelectronics Co., Ltd. is planning a significant asset restructuring, leading to a temporary suspension of its stock trading, with an expected announcement of the transaction plan within 10 trading days [1][3]. Group 1: Company Performance - In 2024, the company's revenue is projected to decline significantly to 1.978 billion yuan, down from 4.231 billion yuan in 2023, representing a nearly 53% decrease [3]. - The net profit attributable to shareholders is expected to be 97 million yuan, showing a year-on-year increase of 1.13% [3]. - The overall gross margin for 2024 is anticipated to be 26.29%, an increase of 13.85 percentage points from the previous year's 12.44% [3]. Group 2: Strategic Adjustments - The revenue decline is attributed to a strategic adjustment in operations, focusing on reducing sales of low-margin products amid slowing market demand and intensified competition [3]. - The company has eliminated non-strategic low-end product lines, particularly in the smart vision sector, which has led to a decrease in revenue but an increase in gross margin to 27.86% [3]. Group 3: Historical Performance - From 2020 to 2023, the company's revenue grew rapidly from 731 million yuan to 4.231 billion yuan, nearly a sixfold increase [5]. - However, during the same period, the gross margin decreased from 45.56% in 2020 to 12.44% in 2023, a drop of 33.12 percentage points [6]. - The revenue concentration among the top five customers increased significantly from 56.56% in 2020 to 93.87% in 2023, with the largest customer accounting for 54.28% of revenue [6]. Group 4: Market Reactions - The company's stock price began to rise in April 2023, with a notable increase of 12.54% on May 20, the day before the announcement, and a further rise of 1.45% on the announcement day [10][11]. - There has been speculation among investors regarding the stock price increase prior to the announcement, with significant buying activity recorded, amounting to approximately 200 million yuan and 90 million yuan on May 20 and 21, respectively [12].