Core Viewpoint - The company Gaon Electronics plans to invest nearly 2.2 billion yuan to acquire 100% of Chengdu Ruicheng Chip Micro Technology Co., Ltd. and 45.64% of Nengneng Microelectronics (Chengdu) Co., Ltd., aiming to enhance its position in the semiconductor IP design and authorization market [1][2]. Group 1: Acquisition Details - The total transaction value is 2.174 billion yuan, comprising 989 million yuan in cash and 1.185 billion yuan in shares, with a share issuance price of 17.48 yuan per share [1]. - The company intends to raise 1.05 billion yuan from no more than 35 specific investors to cover the cash portion of the transaction and related costs [1]. - The assessed value of Ruicheng Chip's 100% equity is 1.9 billion yuan, with a value increase rate of 150.06%, while Nengneng Micro's 45.64% equity is valued at 274 million yuan, with a value increase rate of 346.34% [1][2]. Group 2: Business Impact - The acquisition is expected to allow Gaon Electronics to integrate EDA tools with IP cores, enhancing the development of EDA tools and driving optimization [3]. - The transaction will not change the company's control, with KLProTech remaining the largest shareholder, although its shareholding will decrease from 21.06% to 18.22% [3]. - The company anticipates a significant increase in total assets and operating income post-transaction, although the debt ratio will rise by 18.52 percentage points to 38.53% [4]. Group 3: Performance Projections - The performance commitments for the acquired companies project revenues of at least 121 million yuan, 143 million yuan, and 168 million yuan for Ruicheng Chip in 2025, 2026, and 2027, respectively [2]. - Nengneng Micro is expected to generate revenues of at least 73.61 million yuan, 86.85 million yuan, and 100 million yuan in the same years [2]. - Long-term profitability is expected to improve as the acquired companies develop their business and release performance [5].

Core Viewpoint - The article discusses the acquisition of Rui Cheng Semiconductor by the company, highlighting the structure of the transaction, the strategic benefits of the acquisition, and the potential for synergy between the two companies in the semiconductor IP design and EDA sectors [3][12][14]. Transaction Overview - The acquisition consists of two parts: issuing shares and cash to purchase assets, and raising matching funds, with the success of the fundraising contingent on the successful implementation of the asset purchase [3]. - The total transaction price for acquiring 100% equity of Rui Cheng Semiconductor is set at 1,903.84 million yuan [4]. - Rui Cheng Semiconductor specializes in semiconductor IP design and related services, primarily serving the integrated circuit design industry [5][12]. Company Profiles - Rui Cheng Semiconductor provides semiconductor IP design, authorization, and related services, focusing on various IP types including analog, mixed-signal, and wireless RF IP [5][7]. - The company has established a significant presence in the market, ranking second in mainland China and tenth globally in physical IP supply, with a market share of 5.9% in analog and mixed-signal IP [9][12]. - Naneng Micro, a subsidiary of Rui Cheng, also offers semiconductor IP services and has a strong foothold in high-speed interface IP [10][12]. Strategic Benefits of the Acquisition - The acquisition allows the company to transition from an EDA tool provider to a comprehensive chip design solution platform, integrating EDA tools with IP cores [14][16]. - The collaboration is expected to enhance the efficiency and competitiveness of both companies, leveraging their combined resources and expertise in the semiconductor industry [17][19]. - The transaction will facilitate deeper customer engagement and expand market reach, as both companies share overlapping client bases in the semiconductor design sector [20][21]. Synergy and Integration - The integration of EDA and IP services is anticipated to create a more robust offering for clients, improving design efficiency and reducing time-to-market for semiconductor products [14][18]. - The companies will benefit from shared technology and customer insights, enhancing their innovation capabilities and operational efficiencies [19][22]. - The acquisition is positioned to strengthen the overall competitiveness of the company in the semiconductor industry, aligning with global trends in EDA and IP collaboration [16][22].

Core Viewpoint - The announcement by Gaon Electronics regarding the acquisition of 100% equity in Ruicheng Semiconductor IP Design and 45.64% equity in Naneng Micro through a combination of share issuance and cash payment, totaling approximately 2.174 billion yuan, marks a strategic move to enhance its position in the semiconductor industry [1][2]. Group 1: Transaction Details - The transaction involves the acquisition of Ruicheng Semiconductor IP Design's 100% equity and 45.64% equity in Naneng Micro, with a total transaction price of 2.17384 billion yuan [2]. - The acquisition will be financed through the issuance of shares and cash, along with the raising of supporting funds from no more than 35 specific investors [2]. - After the transaction, both Ruicheng Semiconductor and Naneng Micro will become wholly-owned subsidiaries of Gaon Electronics [2][4]. Group 2: Company Background - Gaon Electronics, established in 2010, is the first EDA listed company in China, focusing on providing comprehensive EDA solutions validated by leading global integrated circuit design and manufacturing enterprises [3]. - Ruicheng Semiconductor, founded in 2011, specializes in high-end semiconductor IP licensing and chip customization services, with over 1,000 physical IPs covering various process types [3][4]. - Naneng Micro, established in 2014, offers wired interface IP and analog IP among other semiconductor IP licensing services [3]. Group 3: Strategic Implications - The acquisition allows Gaon Electronics to transition from an "EDA tool provider" to a "one-stop chip design solution platform," integrating EDA tools with IP cores for enhanced product offerings [4][5]. - The deep integration of technology platforms post-acquisition will enable partners to efficiently and safely complete chip designs, reducing time-to-market and development costs [5]. - Long-term, this transaction is expected to enhance Gaon Electronics' technological innovation capabilities and increase its competitiveness in the international market [5].