WINNOVATION(SZ:000620) 中国基金报·2025-10-22 01:46Core Viewpoint - Yingxin Development plans to acquire 81.8091% of Guangdong Changxing Semiconductor Technology Co., Ltd, indicating a strategic shift towards the semiconductor industry after its rebranding from "Xinhua Group" to "Yingxin Development" in June 2023 [2][9]. Group 1: Acquisition Details - The acquisition will be executed through a cash payment to Guangdong Changxing Information Management Consulting Co., Ltd and Zhang Zhiqiang, who currently hold the shares [4]. - Following the completion of this transaction, Yingxin Development is expected to gain control over Changxing Semiconductor [4]. - The transaction is not classified as a major asset restructuring under relevant regulations and does not involve the issuance of new shares or a change in control [5]. Group 2: Company Background - Changxing Semiconductor, established in November 2012, specializes in memory chip packaging, testing, and module manufacturing, holding 76 valid patents [7]. - The company has developed an integrated business model for research, packaging, and testing, with capabilities in advanced packaging technologies [7]. Group 3: Strategic Implications - The acquisition aligns with Yingxin Development's strategic focus on integrating "cultural tourism + technology," enhancing its overall competitiveness and operational strength [7]. - This move represents a combination of upgrading traditional business and entering emerging industries, reflecting a broader strategic transformation [7]. Group 4: Financial Performance - Yingxin Development has faced financial challenges, reporting a revenue decline of 21.47% to 3.043 billion yuan in 2024 and a net loss of 533 million yuan [10]. - In the first half of 2025, the company experienced a 50.97% drop in revenue, amounting to 772 million yuan, with a net loss of 161 million yuan [10]. - Despite recent stock price increases of 20.73% this week, the stock has declined by 9.59% year-to-date, closing at 1.98 yuan per share with a market capitalization of 11.6 billion yuan as of October 21 [12].