杰华特：收购新港海岸！

Core Viewpoint - JETCHIP has announced the acquisition of 66.25% of Xinhai Coast, a high-speed mixed-signal IC design company, for a total price of 418 million yuan, which strategically fills the gap in JETCHIP's product line, particularly in high-speed interface and clock chip areas [1][4][6]. Group 1: Acquisition Details - JETCHIP directly acquires 20% of Xinhai Coast for 126 million yuan and holds a total of 35.37% through associated funds, ensuring strategic influence via board appointment rights [1][6]. - The acquisition structure allows JETCHIP to avoid financial pressure from a full acquisition while maintaining control through a combination of direct and indirect holdings [6]. Group 2: Strategic Importance - The acquisition of Xinhai Coast complements JETCHIP's existing power management technology, creating a comprehensive solution that addresses the growing demand for high-speed interfaces in AI servers and automotive applications [4][6][7]. - Xinhai Coast's technology, including 112G SerDes IP and ultra-low jitter clock generators, enhances JETCHIP's competitive edge in the AI server power management module market [7]. Group 3: Market Potential - The valuation of Xinhai Coast at approximately 631 million yuan, with a projected revenue multiple of about 8 times for 2024, is below the industry average of 10-12 times, indicating a favorable investment opportunity [8]. - The global AI server market is expected to exceed 60 billion USD by 2025, with a demand growth rate for related interface chips surpassing 50%, highlighting the significant market potential for the combined technologies of JETCHIP and Xinhai Coast [8].