Highbroad Advanced Material (Hefei) (SZ:301321) WitsView睿智显示·2026-02-14 05:40Core Viewpoint - Hanbo High-tech announced that its subsidiary, Chip East, plans to acquire assets in China from South Korea's Dongjin to quickly enter the wet electronic chemicals sector and break through technical and market barriers [1][4]. Group 1: Acquisition Details - Chip East intends to acquire 70% equity in a special purpose vehicle (SPV) established by South Korea's Dongjin and its wholly-owned subsidiary, Hong Kong Dongjin, for a price of $142.1 million [4]. - The SPV is funded by 100% equity stakes in nine target companies held by Dongjin in China, along with 24 patents (100% or 50% ownership) owned by Dongjin in China [4]. - The market value of the total equity of the nine target companies is assessed at 1.669 billion yuan, representing a 70.10% increase over the book value [4]. Group 2: Financial Projections - For the period from January to October 2025, the nine target companies are projected to achieve a combined revenue of 1.303 billion yuan and a net profit of 108 million yuan [4]. - Following the completion of the transaction, the SPV is expected to sign a formal acquisition agreement for Huizhou Dongjin within six months [4]. Group 3: Industry Context - Dongjin is a significant player in the semiconductor and LCD chemical materials sector in South Korea, with products primarily used in the cleaning processes of glass substrates in LCD exposure technology [4]. - The move to divest from the Chinese market is widely believed to be closely related to the continuous increase in the domestic production rate of semiconductor and display materials in China [5]. - Hanbo High-tech's main products include backlight display modules and related components, which are applicable in various terminal products such as laptops, tablets, and medical displays [5].