Core Viewpoint - The company,探路者控股集团股份有限公司, announced the acquisition of 51% stakes in two semiconductor companies, Shenzhen Beitelai Electronics Technology Co., Ltd. and Shanghai Tongtu Semiconductor Technology Co., Ltd., for a total of 6.78 billion yuan, aiming to enhance its chip business and market expansion [1][2]. Group 1: Acquisition Details - The company approved the acquisition of Shenzhen Beitelai for 321 million yuan and Shanghai Tongtu for 357 million yuan, both funded by its own resources [1]. - The valuation for both companies was based on the income approach, with Beitelai showing a value increase of 363.26% and Shanghai Tongtu showing a value increase of 2119.65% [1]. Group 2: Company Profiles - Shenzhen Beitelai is a national high-tech enterprise focused on mixed-signal chain chip design, specializing in fingerprint recognition chips, touch chips, and dedicated MCU chips, operating under a Fabless model [1]. - Shanghai Tongtu specializes in IP technology licensing and chip design, with a strong focus on image and video processing, and its IP technology is widely applied in various chip designs including mobile AP chips and automotive ADAS chips [2]. Group 3: Strategic Intent - The acquisitions are intended to create deep synergies with the company's existing chip business, integrating technologies, products, and customer resources to expand into consumer electronics, industrial control, and intelligent driving applications [2].

Core Viewpoint - The company, Ying Tang Zhi Kong, is actively expanding its chip business through acquisitions of Guanglong Integrated Technology and Shanghai Aojian Microelectronics, indicating a strategic move to enhance its semiconductor capabilities [2][4]. Group 1: Acquisition Details - Ying Tang Zhi Kong announced the acquisition of Guanglong Integrated Technology and Shanghai Aojian Microelectronics, with trading suspension starting from October 27, 2025 [2]. - The acquisition involves issuing shares and cash payments for 100% equity of Guanglong Integrated and 76% equity of Aojian Microelectronics, along with raising supporting funds [4]. - Guanglong Integrated is a subsidiary of Guanglong Technology, which previously attempted an IPO on the Sci-Tech Innovation Board in 2022 but withdrew its application [2][5]. Group 2: Financial Performance - Guanglong Technology reported revenues of 175 million CNY, 192 million CNY, and 273 million CNY for the years 2018, 2019, and 2020, respectively, with a net profit of 75.89 million CNY in 2020 after losses in the previous years [5]. - Ying Tang Zhi Kong's chip design and manufacturing business generated 213 million CNY in revenue in the first half of this year, marking a 24.57% year-on-year increase and accounting for 8.06% of total revenue [7]. Group 3: Company Background - Guanglong Technology, established in 2001, focuses on high-end semiconductor laser chips and components, holding advanced manufacturing technologies [5]. - Aojian Microelectronics, founded in 2015, specializes in high-performance analog and mixed-signal chip design, with applications in various sectors including communications and medical devices [5][6].