Beijing JCZ Technology (SH:688291) IPO日报·2025-08-01 04:00Core Viewpoint - Beijing Jinchengzi Technology Co., Ltd. is planning to acquire 55% of Changchun Samit Optoelectronics Technology Co., Ltd. through a combination of share issuance and cash payment, along with raising matching funds [1][3]. Group 1: Company Overview - Jinchengzi achieved a revenue of 64.37 million yuan and a net profit of 11.97 million yuan in Q1, marking a year-on-year increase of 73% [5]. - The company currently faces low collection efficiency, with accounts receivable exceeding its current profits. In Q1 2025, accounts receivable amounted to 43.68 million yuan, representing 143.24% of its profit [6]. Group 2: Target Company Insights - Samit Optoelectronics, established in 2015 with a registered capital of 5.56 million yuan, focuses on the R&D and production of precision optical instruments [8]. - The high-end precision optical instrument market is dominated by foreign giants, particularly in the field of high-speed mirrors, with companies like Norg and SmarAct holding significant market share [9]. - Samit Optoelectronics possesses a key technology that breaks international monopolies, specifically in high-precision fast mirror systems, which is crucial for optical imaging stabilization [10][11]. - The acquisition is expected to enable Jinchengzi to enter new sectors such as military, aerospace, and high-end manufacturing, while the high technical barriers in the precision optical instrument field may enhance Jinchengzi's overall profitability [12].