（文/孙梅欣 编辑/张广凯） 越来越多深陷行业危机的家居企业，正试图通过跨界收并购科技企业，以摆脱当下困境。 家居上市企业美克家居近期停牌并发布公告，公司正在筹划通过发行股份及支付现金的方式，收购深圳 万德溙光电科技有限公司（以下简称"万德溙"）控制权，并募集配套资金。 美克称，由于交易还处于筹划阶段，万德溙的评估、交易金额、发行股份、支付现金比例等重大资产交 易的核心信息尚未确定，因此并未在此次公告中披露。 深圳万德溙是一家成立于2018年的科技企业，主营业务涵盖高速铜缆、连接器、光电产品及配件的研发 与销售，产品应用于数据中心及AI服务器等领域，可以说和美克家居主营的成品家具业务并无关联。 对于为何要选择行业大跨界收购万德溙，美克家居相关人士对观察者网回复，由于公司正处于停牌阶 段，为遵守信披公平性暂时无法提供更多具体细节，还需等待公司复牌后的相关公告。 无独有偶，就在美克家居宣布筹划收购万德溙同期，定制家具上市企业皮阿诺也公告了详式权益变动 书，杭州初芯微科技合伙企业（以下简称"初芯微"）计划以4.44亿元的对价，收购皮阿诺16.78%的股 份。 初芯微收购的股份中，包含皮阿诺的原控股股东马礼斌9.78 ...

Core Viewpoint - The semiconductor industry is currently facing multiple pressures, including tightened IPO channels, increased competition, and a declining market environment, leading to survival challenges for mid-sized companies [2][3]. Group 1: Industry Challenges - The tightening of IPO channels has made financing increasingly difficult, with many companies struggling to meet performance metrics and revenue growth requirements [2]. - The semiconductor sector has entered a period of intense competition, particularly in the low-end chip market, where many small firms are facing existential threats [2][3]. - The industry is experiencing a "capital winter," characterized by increased IPO thresholds and reduced investment certainty in the primary market [2]. Group 2: Strategic Responses - Companies are actively seeking alternative paths to survival, including mergers and acquisitions, cross-industry collaborations, and attempts at "backdoor listings" [2][3]. - Mid-sized semiconductor firms are focusing on cost-cutting measures and building reserves to withstand cyclical risks while also exploring partnerships with listed companies [3]. Group 3: Case Study - Xirui Technology - Xirui Technology has faced multiple failed IPO attempts and is now pursuing a strategic acquisition to gain control of a listed company, which could provide a pathway to the capital market [4][5]. - The acquisition of Anche Detection by Xirui Technology allows it to become the controlling shareholder, potentially facilitating its entry into the capital market [6][9]. - This move is seen as a low-cost opportunity for Xirui Technology to secure a listing platform while addressing investor exit demands and ongoing financing needs [12]. Group 4: Case Study - Wantong Development - Wantong Development is investing 854 million yuan to acquire a majority stake in Shudao Technology, marking a significant step in its transition to the digital technology sector [13][16]. - Shudao Technology specializes in high-speed interconnect chips, which are critical for AI computing and data centers, aligning with market trends [17][20]. - The acquisition is expected to provide Wantong Development with new revenue streams and enhance its long-term growth prospects amid declining performance in its traditional real estate business [20]. Group 5: Case Study - Lvtong Technology - Lvtong Technology is acquiring a 51% stake in Damo Semiconductor, entering the semiconductor front-end measurement equipment sector to seek new growth engines [22][25]. - Damo Semiconductor has shown strong growth, with revenues increasing from 231 million yuan to 278 million yuan, indicating a robust market position [26]. - This acquisition aligns with the broader trend of domestic semiconductor equipment market growth, projected to reach 49 billion USD in 2024, driven by local supply chain replacements [27]. Group 6: Industry Trends - The semiconductor industry is witnessing a shift towards cross-industry mergers and acquisitions as companies seek to leverage external capital and resources for technological advancement [31][32]. - The contrast between successful cross-industry acquisitions and failed peer consolidations highlights the evolving landscape of the semiconductor sector [33][34]. - Companies must navigate valuation discrepancies, market risks, and technical integration challenges to achieve successful mergers and acquisitions [35].