券商中国·2026-01-20 23:36Core Viewpoint - The article highlights the recent trend of A-share listed companies, such as Kangxin New Materials and Yanjing Co., entering the semiconductor industry through mergers and acquisitions, indicating a strategic shift towards diversification and growth in this sector [2][10]. Group 1: Kangxin New Materials - Kangxin New Materials announced on January 20 that it plans to acquire a 51% stake in Yubang Semiconductor for 392 million yuan, marking its strategic transition into the semiconductor industry [2][7]. - Following the announcement, Kangxin New Materials' stock surged, reaching a market capitalization of 6.3 billion yuan, with a cumulative stock price increase of over 150% since April 9 of the previous year [2][7]. - The acquisition is based on an investment pre-valuation of 688 million yuan, with the company using its own funds for the purchase and capital increase [7]. Group 2: Yubang Semiconductor - Yubang Semiconductor, established in 2014, specializes in integrated circuit manufacturing and has shown steady revenue growth, with projected revenues of 150 million yuan and 166 million yuan for 2024 and the first nine months of 2025, respectively [8]. - The company has made profit commitments to Kangxin New Materials, ensuring net profits of at least 50 million yuan, 53 million yuan, and 56 million yuan for the years 2026, 2027, and 2028, respectively [8]. Group 3: Market Activity - Since January 15, over ten A-share listed companies have disclosed merger and acquisition activities, indicating a vibrant M&A market driven by regulatory policies [4][10]. - Yanjing Co. also announced its entry into the semiconductor sector, planning to acquire 98.54% of Ningbo Yongqiang Technology, which has led to significant stock price increases for the company [10][14]. - The trend of cross-industry mergers and acquisitions is expected to continue, particularly in the technology sector, as companies seek to capitalize on growth opportunities [10].