在标的公司定价及业绩承诺方面，说明九江正启截至2024年9月30日尚未盈利的原因，后续拟采取 的改善盈利能力措施，以及如何与上市公司在业务、财务、人员等方面实现整合结合九江正启同行业公 司收购定价情况等，说明本次购买资产定价合理性。 新京报贝壳财经讯（记者张晓翀）1月7日晚间，北京证券交易所上市公司管理部对华维设计集团股 份有限公司（以下简称"华维设计"）董事会、中威正信（北京）资产评估有限公司发出问询函。 问询函指出，1月7日，华维设计披露《购买资产的公告》《开展新业务的公告》，为进一步拓展业 务板块，改善经营状况，拟以6300万元购买自然人廖红伟持有的九江正启微电子有限公司（以下简称 "九江正启"或"标的公司"）51%股权，本次交易不构成重大资产重组。 问询函要求华维设计结合上市公司及九江正启近两年业务开展情况、主营业务收入、净利润等主要 财务指标变化情况、行业未来发展态势，九江正启行业地位、核心竞争优势、市场占有率、在手订单情 况、与上市公司业务的差异性以及未来能否产生协同效应等，充分说明本次跨行业收购的必要性及合理 性。 另外，问询函要求华维设计测算本次购买资产对上市公司营运资本、流动比率、速动比率的 ...

Core Viewpoint - Yanggu Huatai is planning to acquire 100% equity of Bomi Technology for 1.443 billion yuan, despite Bomi currently being in a loss position, with the acquisition price reflecting a premium of over 13 times its net assets [3][5]. Group 1: Transaction Details - The acquisition involves multiple stakeholders, including Hainan Juxin and several individuals, with a total transaction price of 1.443 billion yuan [3]. - Bomi Technology specializes in high-performance polyimide materials, with its products primarily used in semiconductor manufacturing and liquid crystal display panel production [3][4]. - The reported revenue for Bomi Technology during the period was 33 million yuan and 34 million yuan, with net losses of 9 million yuan and 12 million yuan respectively [5]. Group 2: Regulatory Scrutiny - The Shenzhen Stock Exchange raised nine major questions regarding the acquisition, focusing on the necessity and compliance of the cross-industry acquisition, the fairness of transaction pricing, and the valuation of intangible assets [3][4]. - Yanggu Huatai is required to provide detailed disclosures on the technological advancements and core competitiveness of Bomi Technology, including comparisons with industry peers [4]. Group 3: Valuation Concerns - The valuation of Bomi Technology was assessed using the income approach, resulting in a value of 1.443 billion yuan, indicating a 1330.32% increase in value [7][9]. - The exchange has requested further clarification on the parameters used in the income approach valuation and the rationale behind the selection of this method over others [8][9]. - Yanggu Huatai argues that the valuation is reasonable due to Bomi's short establishment period and high R&D investments, despite its low net assets [9]. Group 4: Market Context - As of June 27, Yanggu Huatai's total market capitalization was 6.678 billion yuan [9].