军工产业收购整合

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甘化科工拟斥资3.88亿元 收购甘鑫科技65%股权
Zheng Quan Shi Bao Wang· 2025-08-14 10:20
Core Viewpoint - The company Ganhua Technology plans to acquire 65% of Xi'an Ganxin Technology Co., Ltd. for 388 million yuan, aiming to enhance its position in the optoelectronic imaging system sector and create new profit growth points in both military and civilian markets [1][2]. Group 1: Acquisition Details - Ganhua Technology will acquire 65% equity in Ganxin Technology for 388 million yuan, with the latter specializing in the R&D, production, and sales of optoelectronic imaging systems and microcircuit modules [1]. - Ganxin Technology reported revenue of 35.79 million yuan and a net profit of 12.42 million yuan from January to April this year, with total assets of 205 million yuan and owner’s equity of 100 million yuan as of April 30, 2025 [1]. - The assessed value of Ganxin Technology is 600 million yuan, reflecting an increase of 500% from its book equity [1]. Group 2: Performance Commitments - The performance commitments include a net profit of no less than 35 million yuan for 2025, a cumulative net profit of at least 85 million yuan from 2025 to 2026, and a cumulative net profit of no less than 150 million yuan from 2025 to 2027 [1]. - Ganxin Technology is also committed to R&D expenses of at least 10% of its annual revenue for 2025, increasing by 25% each subsequent year [1]. Group 3: Strategic Benefits - The acquisition will allow Ganhua Technology to enter the optoelectronic imaging system market, benefiting from trends in digitalization and intelligence in modern warfare [2]. - Ganhua Technology's subsidiary, Sichuan Shenghua Power Supply Technology Co., Ltd., is a leading supplier of special power supplies, and the complementary product lines with Ganxin Technology will enhance competitiveness in the power supply sector [2]. - The transaction is expected to create synergies in market demand information, order acquisition, and service assurance, thereby increasing market share [2]. Group 4: Management and Operational Enhancements - Ganhua Technology plans to leverage its experience in managing military subsidiaries to standardize operations at Ganxin Technology, improve management levels, and reduce operational costs [2]. - The company will assist in building a talent pipeline and enhancing the human resources system for Ganxin Technology, while utilizing capital market financing to support its development [2]. Group 5: Market Performance - As of August 14, Ganhua Technology's stock closed at 11.8 yuan per share, down 7.09%, with a total market capitalization of 5.15 billion yuan [3].