星宸科技，拟收购

Core Insights - Starry Technology reported a revenue of approximately 1.4 billion yuan for the first half of 2025, marking an 18.6% year-on-year increase, with the second quarter achieving 740 million yuan, a 12.4% year-on-year and 10.9% quarter-on-quarter growth, setting a historical high for both half-year and single-quarter revenue [2] - The company announced a cash acquisition of approximately 210 million yuan for a 53.3087% stake in Shanghai Furui Kun Microelectronics, which will become a subsidiary and be included in the consolidated financial statements, enhancing its strategic positioning in AI SoC chip design [2][5] - Furui Kun, established in 2014, specializes in Bluetooth chip design and has been recognized as a national-level "specialized and innovative" enterprise, boasting a comprehensive R&D capability across various domains [3] Financial Performance - Furui Kun achieved a revenue of approximately 58.75 million yuan in the first half of 2025, with a performance commitment to achieve a cumulative net profit of no less than 100 million yuan from 2026 to 2028 [2][3] Product and Market Position - Furui Kun's main products include dual-mode Bluetooth SoC chips and low-power Bluetooth MCU chips, serving various applications in consumer, industrial, and automotive sectors, with significant market presence and multiple certifications [4] - The acquisition will enhance Starry Technology's existing core IPs, allowing for a more integrated SoC platform that combines perception, computation, and connectivity capabilities [5] Strategic Implications - The acquisition represents a strategic complement between "intelligent computing" and "reliable connectivity," aiming to create a balanced competitive edge in performance, power consumption, and cost for edge AI SoC chips [5]