Shanghai Prisemi Electronics (SH:688230) 券商中国·2025-08-03 12:42Core Viewpoint - The article discusses the recent acquisition activities in the semiconductor sector, highlighting the significant merger and acquisition (M&A) case of Chipway Technology acquiring Shunlei Technology and Jishun Technology, which is expected to enhance its position in the power semiconductor market [1][2][3]. Group 1: Acquisition Details - Chipway Technology plans to acquire 100% of Jishun Technology and 17.15% of Shunlei Technology for a total of 403 million yuan, aiming for full control over Shunlei Technology [2][3]. - The acquisition is characterized as a major asset restructuring, which is anticipated to strengthen Chipway's existing business in power semiconductors [1][2]. Group 2: Business Synergies - Shunlei Technology specializes in the research, production, and sales of power devices, including TVS, ESD protection devices, MOSFETs, and Schottky diodes, establishing a solid customer base across various sectors [3]. - The acquisition is expected to create market synergies, allowing Chipway to leverage Shunlei's customer resources to enter automotive electronics, security instruments, and other fields, while Shunlei can benefit from Chipway's market channels [3]. Group 3: Performance Commitments - The sellers have committed to achieving audited net profits of no less than 35 million yuan, 36.5 million yuan, and 40 million yuan for the years 2025, 2026, and 2027, respectively [3]. Group 4: Industry Trends - Since 2024, there has been a notable increase in M&A activities in the semiconductor sector, with nearly 200 major asset restructurings reported from September 2024 to June 2025, reflecting a year-on-year increase of 172% [4][5]. - The Chinese government has been actively promoting M&A and restructuring in the semiconductor industry to facilitate industry consolidation and technological advancement [4].