Core Viewpoint - The announcement reveals that Jiarong Technology plans to acquire 100% of Hangzhou Luan Technology, which will become its wholly-owned subsidiary, through a combination of share issuance and cash payment, with a fundraising target of up to 1 billion yuan [1][2]. Group 1: Company Overview - Jiarong Technology, listed on the ChiNext in 2022, is a national high-tech enterprise focused on membrane separation technology, providing high-performance separation membrane materials, environmental equipment, and wastewater treatment solutions [1]. - Hangzhou Luan Technology is recognized as a national-level high-tech enterprise specializing in electrodialysis technology, with its core products widely used in high-growth sectors such as lithium batteries, biomedicine, and carbon capture [1][2]. Group 2: Financial Performance - For the first three quarters of 2025, Jiarong Technology reported a net profit attributable to shareholders of 59.3 million yuan, reflecting a year-on-year increase of 12.95% [1]. - Hangzhou Luan has maintained stable operating performance and has been recognized as a "little giant" enterprise, holding over 42 invention patents and 63 utility model patents [2]. Group 3: Strategic Significance - The acquisition is seen as a strategic move to enhance Jiarong Technology's competitiveness and sustainable development capabilities, aligning with national policies on green and low-carbon development [3]. - The transaction is expected to create synergies in research, production, and market operations, thereby driving continuous performance growth for the listed company [2].

Core Viewpoint - The announcement by Jia Rong Technology regarding the acquisition of Hangzhou Lanran Technology marks a significant step towards industry integration in the membrane technology sector, enhancing the company's competitive edge and sustainable development capabilities [1][3]. Company Overview - Jia Rong Technology is a national high-tech enterprise focused on membrane separation technology, providing high-performance separation membrane materials, environmental equipment, and wastewater treatment solutions [2]. - Hangzhou Lanran is also a national high-tech enterprise specializing in electrodialysis technology, with its core products widely used in various high-growth industries such as lithium batteries, biomedicine, and carbon capture [2]. Financial Performance - In the first three quarters of 2025, Jia Rong Technology achieved a net profit of 59.3 million yuan, reflecting a year-on-year growth of 12.95%, while actively seeking cross-industry development through integration [2]. Strategic Significance - The acquisition is expected to enhance Jia Rong Technology's profitability and growth prospects, leveraging Hangzhou Lanran's established core technologies in high-growth sectors [3]. - Hangzhou Lanran has received multiple awards and holds numerous patents, indicating its strong position in the membrane industry [3]. Transaction Details - Jia Rong Technology plans to acquire 100% of Hangzhou Lanran's shares through a combination of issuing shares and cash payments, with a fundraising target of up to 1 billion yuan [3]. - Following the transaction, Hangzhou Lanran will become a wholly-owned subsidiary of Jia Rong Technology, with Xiamen Puyu expected to become the new controlling shareholder [3]. Industry Impact - This transaction aligns with national policies on green and sustainable development, aiming to enhance the quality and efficiency of listed companies while focusing on investor returns [4]. - The integration is expected to improve operational capabilities and industry concentration, allowing Jia Rong Technology to capitalize on scale and synergy effects [4].