Beijing JCZ Technology (SH:688291) 仪器信息网·2025-08-06 03:58Core Viewpoint - Beijing Jinchengzi Technology Co., Ltd. is planning to acquire 55% equity of Changchun Samit Optoelectronics Technology Co., Ltd. through a combination of share issuance and cash payment, along with raising matching funds [2][5]. Group 1: Company Overview - Jinchengzi reported 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% [6]. - The company has a high accounts receivable scale, with accounts receivable in Q1 2025 reaching 43.68 million yuan, which is 143.24% of its profit [7]. - For the full year of 2024, accounts receivable accounted for 112.74% of the net profit, with the mid-year ratio reaching 134.06% [7]. Group 2: Target Company Overview - 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 [9]. - The high-end fast mirror market is dominated by foreign giants, with companies like Norg and SmarAct holding long-term market monopolies [10]. - Samit Optoelectronics possesses a key technology that breaks international barriers, specifically in high-precision fast mirror systems [11][12]. Group 3: Strategic Implications - The acquisition will enable Jinchengzi to enter new fields such as military, aerospace, and high-end manufacturing [13]. - The precision optical instrument sector has high technical barriers, and products generally have higher profit margins compared to traditional manufacturing, which is expected to enhance Jinchengzi's overall profitability [13].