Acquisition Overview - The company signed a share purchase agreement to acquire 100% of Circuit Foil Luxembourg for a total enterprise value of €215 million, with a net purchase price of €174 million after adjustments [2][3] - The acquisition was approved by the board on July 29, 2025, and management is authorized to handle necessary approvals and share transfer [2][3] Target Company Profile - Circuit Foil Luxembourg, established in 1960, is a leading non-Japanese manufacturer of high-end IT copper foil, with a production capacity of 16,800 tons per year [2][3] - The company has a clear ownership structure with no encumbrances or legal disputes, and it has developed 17 patents filling several industry technology gaps [3][4] Financial Performance - In 2024, Circuit Foil Luxembourg reported revenues of €13.4 million, with a net loss of €370,000 due to low high-end product ratios and high operational costs [3][4] - The company achieved a quarterly turnaround in 2025, driven by increased production and sales of high-end products [3][4] Strategic Synergies Post-Acquisition - The acquisition will enhance the company's position in the global high-end copper foil market, leveraging both companies' resources for technological integration and market expansion [3][4] - The company plans to strengthen sales and service capabilities in the Asia-Pacific region, capitalizing on the growing demand for high-end copper foil products [3][4] Research and Development - The company invested €183 million in R&D in 2024, marking a 30.45% increase year-on-year, focusing on high-frequency, ultra-thin, and functional copper foil technologies [4] - The target company has a strong R&D background, having developed several advanced products, including HVLP and DTH copper foils, which are critical for AI servers and 5G applications [3][4]