Puya semiconductor(SH:688766) 是说芯语·2025-09-18 00:53Core Viewpoint - The company, Purun Semiconductor, plans to acquire a controlling stake in a target company through cash transactions with existing shareholders, which will lead to indirect control over SHM and inclusion in the company's consolidated financial statements [1]. Group 1: About SHM - SHM is a semiconductor company registered in Hong Kong, focusing on high-performance 2D NAND and derivative memory products, with core competencies in firmware algorithm development, memory chip testing solutions, integrated packaging design, and customized memory products [4]. - SHM has engineering centers in South Korea and Japan, and sales offices across Asia, Europe, and North America, establishing a mature global sales network to provide high-quality flash memory solutions [5]. Group 2: About Purun Semiconductor - Purun Semiconductor (Shanghai) Co., Ltd. was established in 2016 and went public in 2021, headquartered in Shanghai, with branches in Chengdu and sales/support centers in Shenzhen and South Korea, as well as a research center in Suzhou [6]. - The company's main products include NOR Flash and EEPROM non-volatile memory chips, MCU microcontroller chips, and analog products, widely used in IoT, smartphones, wearables, servers, optical modules, industrial control, automotive electronics, and security [7]. Group 3: Impact of Acquisition - If the acquisition is completed, the company will gain control of the target company, leading to significant business synergies, as the main products of both companies (NOR Flash, EEPROM, SLC NAND, eMMC, MCP) will effectively complement each other, forming a complete non-volatile memory product layout [8]. - The company's revenue primarily comes from the Chinese market, while the target company generates most of its revenue from overseas markets, allowing for effective complementarity in sales channels and the formation of a global sales network [9]. - As an IC design enterprise, the company possesses strong independent R&D capabilities, while the target company has rich experience in product performance optimization and manufacturing processes, leading to effective complementarity in design and engineering capabilities [10]. - Overall, the acquisition is expected to create synergies in products, markets, and technologies, enhancing the company's scale and core market competitiveness [11].