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光韵达净利润三年连降寻拓展 拟3.5亿元收购亿联无限控股权
Chang Jiang Shang Bao· 2025-07-09 09:54
Group 1 - The core point of the article highlights that Guangyun Da is attempting to enter the telecommunications equipment market by acquiring a controlling stake in Yilian Infinite, a company that has experienced a significant decline in performance after a failed IPO [1][2] - Guangyun Da plans to acquire 56.0299% of Yilian Infinite for 352 million yuan, with the total equity value of Yilian Infinite being 629 million yuan, reflecting a 290.56% increase over its book net assets [1][2] - Yilian Infinite's performance has drastically declined post-IPO failure, with 2024 revenue at 527 million yuan and net profit at 28.75 million yuan, which is only 34% of its 2022 net profit [1][2] Group 2 - Guangyun Da's main business revolves around laser technology, providing manufacturing services and smart manufacturing solutions for various industries, but it has faced continuous profit decline over the past three years [2] - The company's net profits for 2022, 2023, and 2024 were 80.07 million yuan, 56.82 million yuan, and -27.37 million yuan respectively, indicating a consistent downward trend [2] - Guangyun Da aims to leverage this acquisition to integrate its smart device manufacturing business within the electronic manufacturing supply chain and expand into overseas markets, seeking new profit growth points [3]
光韵达: 关于以现金方式收购深圳市亿联无限科技有限公司控制权暨签署购买资产协议的公告
Zheng Quan Zhi Xing· 2025-07-08 13:15
Transaction Overview - The company plans to acquire 56.0299% equity of Shenzhen Yilian Infinite Technology Co., Ltd. for cash, with a total valuation of 628 million RMB [1][2] - The acquisition will grant the company control over Yilian Infinite, which will be included in the company's consolidated financial statements after completion [1][2] - The transaction requires approval from the company's shareholders' meeting due to the significant net profit of Yilian Infinite exceeding 50% of the company's audited net profit for the last fiscal year [2] Transaction Parties - The seller of the equity is Chen Zheng, who has no direct or indirect shareholding in the company and is not associated with any major stakeholders [2][4] - The other party involved is Shenzhen Boyuan Zhili Management Consulting Partnership (Limited Partnership), which also has no direct or indirect shareholding in the company [4] Target Company Information - Shenzhen Yilian Infinite Technology Co., Ltd. was established on September 10, 2012, with a registered capital of 41.2876 million RMB [3][5] - The company specializes in the research, development, production, and sales of broadband access equipment and wireless network devices [14] - As of April 30, 2025, Yilian Infinite reported total assets of 307.99 million RMB and a net profit of 9.7977 million RMB for the first four months of 2025 [11][12] Financial Assessment - The total equity value of Yilian Infinite was assessed at 628.8346 million RMB, with a significant increase in net asset value compared to its book value [12][13] - The asset-based valuation indicated a total asset value of 360.86 million RMB, with a net asset value of 161.01 million RMB [13] - The revenue method assessment showed a substantial increase in equity value, reflecting a 290.56% increase over the book net asset value [13][14] Transaction Agreement Details - The transaction price was negotiated based on the assessed value, with the cash payment structured to be completed within 60 working days after the agreement takes effect [17][18] - The agreement includes provisions for the transfer of equity and the management of the target company's operational assets post-acquisition [18]
首亏后光韵达拟收购谋变,标的公司IPO折戟后遗症待解 |并购一线
Sou Hu Cai Jing· 2025-04-17 14:13
Core Viewpoint - Guangyun Da plans to acquire 100% of Shenzhen Yilian Infinite Technology Co., Ltd. for a cash consideration of no more than 650 million yuan, aiming to extend its presence in the electronic manufacturing industry and create new revenue and profit growth points amid declining profitability and increased competition [2][10]. Group 1: Guangyun Da's Financial Situation - Guangyun Da reported a net profit loss of 48.11 million yuan for the first time since its listing, attributed to impairment provisions for goodwill and accounts receivable [2][12]. - The company's gross profit margin and net profit have been declining due to intensified industry competition, with gross profit margins dropping from 42.45% in 2020 to 29.38% in 2024 [12]. Group 2: Acquisition Target - Yilian Infinite - Yilian Infinite, which failed its IPO attempt in June 2023, is a high-tech enterprise engaged in the R&D, production, and sales of broadband access and wireless network equipment, with over 90% of its revenue coming from overseas markets in 2022 [3][5]. - The company faced scrutiny over its financial practices, including cash dividends of 65 million yuan despite having 142 million yuan in cash, and a low-priced capital increase that raised concerns about internal governance [6]. Group 3: Market Conditions and Growth Potential - Yilian Infinite's revenue surged by 80.52% in 2022, significantly outpacing the industry average growth of 24.77%, primarily driven by increased demand from Indian and P country clients [6][7]. - However, the sustainability of this growth is questioned due to the low repurchase rate of its products and the maturing overseas communication infrastructure, which may lead to increased performance pressure [7][9]. Group 4: Strategic Implications of the Acquisition - The acquisition is seen as a strategic move for Guangyun Da to enter the network communication equipment manufacturing market and support its expansion into the domestic consumer electronics sector [10][12]. - Guangyun Da's cash and cash equivalents stood at 374 million yuan at the end of 2024, which is insufficient to cover the acquisition cost, prompting plans for a capital increase to supplement liquidity [12][13].