Core Viewpoint - The company plans to acquire at least 34% equity in Shanghai Kuixin Integrated Circuit Design Co., Ltd. (Kuixin Technology) through cash payment, aiming to control 51% of the voting rights, thereby gaining control over the company [2][3] Group 1: Transaction Details - The total valuation of 100% equity in Kuixin Technology is not to exceed 1.588 billion yuan, with the expected final transaction amount not exceeding 540 million yuan [3] - After the transaction, the company will appoint two-thirds of the board seats at Kuixin Technology, and the financial director will be recommended by the company, granting it decision-making power over operations, personnel, and finances [3] - The transaction does not constitute a major asset restructuring as defined by relevant regulations, and it will not involve issuing new shares or changing the controlling shareholder [3] Group 2: Performance Commitments - Kuixin Technology has committed to achieving audited annual revenues of no less than 300 million yuan, 450 million yuan, 600 million yuan, and 750 million yuan from 2025 to 2028, with specific revenue targets for IP and high-speed interconnect products [4] - The company has established performance compensation clauses related to these commitments [4] Group 3: Company Background and Industry Context - The company has been focused on the refined oil distribution sector, building a complete industrial chain ecosystem that includes retail, storage, logistics, and wholesale [5] - In the context of the energy transition, the company is accelerating its layout in ultra-fast charging business, leveraging existing gas station resources for charging facility construction [5] - Kuixin Technology, established in 2021, specializes in high-value semiconductor IP solutions and is one of the few companies in China with a complete matrix of high-speed interface IP products, aiming to break foreign monopolies [6] - The company has developed strategic partnerships with international foundries like TSMC and Samsung, covering process nodes from 5nm to 55nm, and its products are widely used in data centers, AI, automotive electronics, and consumer electronics [6]