Core Viewpoint - Mingpu Optoelectronics is accelerating external acquisitions to seek industrial synergy, as its new business development has not yet yielded results [1][6]. Acquisition Details - Mingpu Optoelectronics plans to acquire 60% of Shenzhen ABB Electric Transportation Technology Co., Ltd. for approximately 118 million yuan, making it a subsidiary [1]. - The target company, part of international giant ABB, reported revenues of 364 million yuan and a net loss of 83.28 million yuan in 2024, but turned profitable in Q1 2025 with revenues of 54.23 million yuan [3][4]. - The total enterprise value of the target company is set at 140 million yuan, with the 100% equity value at 197 million yuan [5]. Financial Performance - Mingpu Optoelectronics is expected to incur cumulative net losses exceeding 615 million yuan over two and a half years from 2023 to mid-2025 [2][6]. - The company reported revenues of 1.916 billion yuan and 1.633 billion yuan for 2023 and 2024, respectively, reflecting year-on-year declines of 17.52% and 14.79% [7]. - The net profit losses for 2023 and 2024 are projected at 259 million yuan and 291 million yuan, respectively [7]. Strategic Shift - The company is transitioning from a single To B business model to a dual To B + To C strategy, but the To C segment has not yet achieved scale efficiency, impacting overall performance [6][8]. - The target company has a complete product development and sales capability, providing charging solutions to over 70 countries, with a significant portion of its revenue coming from overseas markets [3][4]. Market Positioning - The company aims to leverage the acquisition to enhance operational efficiency and strengthen its competitive advantages in channel operations, customer expansion, and supply chain integration [4]. - The overseas sales revenue for Mingpu Optoelectronics was 395 million yuan in 2024, accounting for 24.21% of total revenue, despite a year-on-year decline of 31.97% [8].