Core Viewpoint - Greenway Technology (301322.SZ), an electric vehicle company with a market value of less than 5 billion, plans to acquire a stake in semiconductor company Damo Semiconductor to diversify its business amid declining performance [1][3]. Group 1: Acquisition Details - On June 2, Greenway Technology signed a letter of intent to acquire at least 51% of Damo Semiconductor for cash, aiming to gain control and enter the semiconductor equipment industry [1][3]. - Damo Semiconductor has previously attempted to sell itself, with a failed acquisition by Tianli Lithium Energy in April 2023 [1][10]. - The acquisition is still in the planning stage, and the details regarding the asset's condition, pricing, and performance remain unclear [3]. Group 2: Financial Performance - Greenway Technology's revenue and net profit have been declining, with a 26.48% drop in revenue to 1.08 billion and a 15.64% decrease in net profit to 263 million in the first quarter of 2023 [4][5]. - The company reported a total revenue of 831 million in 2022, down 23.15% year-on-year, and a net profit of 142 million, a decrease of 45.98% [4]. - The decline in sales of golf carts, which accounted for 87.82% of total revenue in 2023, is a significant factor in the revenue drop [3][4]. Group 3: Market Context - The semiconductor equipment manufacturing sector is capital and labor-intensive, with median employee counts exceeding 1,300 and average total assets over 10 billion among listed companies [8]. - Damo Semiconductor's asset scale, employee count, and revenue are significantly lower than those of established semiconductor companies, raising questions about the potential success of Greenway Technology's acquisition [8][9]. - Damo Semiconductor's products primarily focus on front-end measurement and repair equipment, with clients including major semiconductor firms, but it has not secured any financing since its establishment in 2017 [7][9].
301322，拟跨界半导体