Galaxy Magnets(SZ:300127) 中国基金报·2025-09-27 08:14Core Viewpoint - Galaxy Magnetics announced a significant acquisition of 100% equity in Kyoto Longtai, aiming to enhance its market position in the magnetic materials industry and respond to national calls for strengthening supply chains and optimizing resource allocation [2][10]. Group 1: Acquisition Details - The acquisition will be executed through a combination of issuing shares and cash payments to 14 counterparties [2][6]. - The share price for the acquisition is set at 23.15 yuan per share, which is 80% of the average trading price over the previous 120 trading days [6][7]. - The estimated value of the target company, Kyoto Longtai, is approximately 450 million yuan [9]. Group 2: Strategic Rationale - The acquisition is intended to expand Galaxy Magnetics' business scope beyond its current focus on bonded neodymium-iron-boron magnets, which has limited growth potential [10][11]. - The target company operates in the permanent ferrite magnet sector, which is positively correlated with the development of micro-special motors, a sector experiencing rapid growth due to industrial automation and smart appliances [10][11]. - The transaction is expected to enhance Galaxy Magnetics' competitiveness in the automotive magnetic materials market, particularly in the context of the growing domestic electric vehicle market [11][12]. Group 3: Financial Implications - Post-acquisition, the target company will become a wholly-owned subsidiary, contributing to an increase in Galaxy Magnetics' revenue and net profit [12]. - Financial projections indicate a decline in Galaxy Magnetics' net profit from 168 million yuan in 2022 to 144 million yuan in 2024, highlighting the need for new growth avenues [11][12]. - The target company's projected net profits for 2023 and 2024 are 5.89 million yuan and 11.53 million yuan, respectively, indicating a growth trend [11].