Investment Rating - The report maintains a "Buy" rating for the company [5][10]. Core Insights - The company has completed acquisitions of two subsidiaries, Weisi Shuanglian and Deyou New Materials, which are expected to enhance future performance through synergistic value [3][10]. - The company is focusing on high-frequency and high-speed copper foil (HVLP5), which has low surface roughness and high peel strength, suitable for applications in AI servers [4][10]. - Revenue projections for the company are estimated at 430 million, 578 million, and 691 million yuan for the years 2025, 2026, and 2027 respectively, with net profits expected to be 110 million, 160 million, and 203 million yuan in the same years [5][12]. Financial Summary - The company is projected to achieve a revenue growth rate of 49.43% in 2025, followed by 34.36% in 2026 and 19.47% in 2027 [7][12]. - The EBITDA is expected to increase from 160.11 million yuan in 2025 to 303.31 million yuan in 2027 [7][12]. - The net profit margin is projected to be 28.6% in 2024, decreasing slightly to 25.7% in 2025, and then increasing to 29.4% by 2027 [12].

Group 1 - The core viewpoint of the article is that Longyang Electronics (301389.SZ) primarily applies its electromagnetic shielding materials in the consumer electronics sector, specifically in laptops and tablets, with a minor application in some wearable devices [1]

Group 1: Mergers and Acquisitions Overview - During the period from June 23 to June 28, 2025, four listed companies announced new mergers and acquisitions, including Guotou Zhonglu, Shaoyang Hydraulic, Longyang Electronics, and Jianlong Micro-Nano, covering industries such as agriculture, machinery, electronics, and basic chemicals [1][6][9]. Group 2: Guotou Zhonglu - Guotou Zhonglu specializes in the production and sales of concentrated fruit and vegetable juices, with its main product being concentrated apple juice. The company operates on a B2B sales model and maintains long-term stable relationships with well-known beverage and food companies [1][6]. - The target company for this transaction is China Electronic Engineering Design Institute Co., Ltd., which has a registered capital of 9,242.74508 million yuan and was established on August 27, 1992 [1][6]. Group 3: Shaoyang Hydraulic - Shaoyang Hydraulic focuses on industrial transmission and high-end manufacturing, achieving domestic substitution of hydraulic products through independent research and technological innovation. In 2024, the R&D investment was 16,007,060.18 yuan, accounting for 4.56% of revenue [2][7]. - The company is planning to issue shares and pay cash to acquire a stake in Chongqing Xincheng Hangrui Technology Co., Ltd., which is expected to constitute a major asset restructuring [2][7]. Group 4: Longyang Electronics - Longyang Electronics primarily deals with electromagnetic shielding materials, with stable and significantly growing revenue. The company has a concentrated customer base among high-end brands, ensuring strong order support [2][7]. - The company plans to acquire 100% of Suzhou Deyou New Material Technology Co., Ltd. through cash payment, with funding sourced from part of the raised funds and its own capital [2][7]. Group 5: Jianlong Micro-Nano - Jianlong Micro-Nano is engaged in the research, production, sales, and technical services of molecular sieve adsorbents and catalysts in various fields, including industrial gas separation and renewable resources [3][8]. - The company is planning to acquire at least 51% of Shanghai Hanxing Energy Technology Co., Ltd. through cash payment, aiming to create a closed-loop integration from material research and process design to end services [3][8].