300842，加码存储芯片

Core Viewpoint - Dike Co., Ltd. plans to acquire 62.5% equity of Jiangsu Jingkai Semiconductor Technology Co., Ltd. for 300 million yuan, aiming to enhance its storage chip business and integrate its supply chain [2][5]. Group 1: Acquisition Details - The acquisition will make Jiangsu Jingkai a subsidiary of Dike Co., Ltd., which will be included in the consolidated financial statements [2]. - Jiangsu Jingkai specializes in storage chip packaging and testing services, having advanced packaging technologies and automated testing capabilities [5]. Group 2: Financial Performance - In 2024, Jiangsu Jingkai is projected to have total assets of 15.83 billion yuan and total liabilities of 11.96 billion yuan, with a net profit of 1.35 billion yuan [6]. - However, in the first four months of 2025, Jiangsu Jingkai reported a net loss of 3.72 million yuan, indicating a shift from profit to loss [7]. Group 3: Dike Co., Ltd. Financial Overview - Dike Co., Ltd. reported a revenue of 15.35 billion yuan in 2024, a year-on-year increase of 59.9%, but the net profit decreased by 6.7% to 360 million yuan [9]. - In the first half of 2025, the company’s revenue was 8.34 billion yuan, up 9.9% year-on-year, but net profit plummeted by 70% to 69.81 million yuan [13]. Group 4: Debt and Cash Flow Concerns - Dike Co., Ltd. has seen its liabilities grow significantly, from 784 million yuan in 2020 to 6.15 billion yuan in 2024, with a high debt ratio of 80.42% in the first half of 2025 [14]. - The company’s cash flow from operating activities has also deteriorated, showing a net outflow of 330 million yuan in the first half of 2025, a decline of 151.8% [13].