Core Viewpoint - The restructuring of Aikodi (600933.SH) has received approval from the China Securities Regulatory Commission, marking the beginning of the implementation phase for the acquisition of 71% of Zhuoerbo's shares for 1.118 billion yuan, which is a significant move to strengthen Aikodi's position in the automotive parts industry [1][2]. Group 1: Acquisition Details - Aikodi plans to acquire 71% of Zhuoerbo Precision Electromechanical Co., Ltd. for 1.118 billion yuan through a combination of issuing shares and cash payments, while also raising up to 520 million yuan from specific investors to cover transaction costs [1][2]. - Zhuoerbo's valuation is set at 1.576 billion yuan, with an increase rate of 118.48%, making the acquisition price for the 71% stake 1.118 billion yuan [3]. Group 2: Financial Projections - Zhuoerbo has committed to achieving a net profit of no less than 4.725 billion yuan from 2025 to 2027, with annual targets of 1.415 billion yuan, 1.569 billion yuan, and 1.741 billion yuan respectively [4]. - Following the acquisition, Aikodi's revenue and net profit are projected to increase by 16.24% and 12.02% respectively, with total assets and equity reaching 17.163 billion yuan and 1.004 billion yuan, reflecting growth of 15.95% and 11.78% [8]. Group 3: Business Strategy and Market Position - The acquisition is a strategic move for Aikodi to enhance its core business in automotive parts, focusing on the development of micro-special motors and precision components, which are essential for the automotive sector [4]. - Aikodi has established a competitive advantage in the automotive parts supply chain, emphasizing the development of new products aligned with the trends of electrification and intelligent driving [6]. - The company has a robust product development pipeline, introducing no fewer than 400 new products annually, with a projected sales revenue of over 10 billion yuan from these products [6]. Group 4: Operational Expansion - Aikodi has expanded its manufacturing capabilities globally, with facilities in Mexico, Malaysia, Germany, and Hungary, enhancing its ability to meet customer demands and reduce logistics costs [7]. - The integration of Zhuoerbo into Aikodi's operations is expected to leverage these global advantages, fostering deeper collaborations with international clients [7].

Group 1 - The core viewpoint of the article is that Aikodi Co., Ltd. has received approval for its asset acquisition plan, which involves purchasing 71% of Zhuoerbo's shares for a total transaction price of 1.118 billion yuan, consisting of 503 million yuan in cash and 615 million yuan in shares [1][2] - Aikodi primarily engages in the research, production, and sales of aluminum and zinc alloy precision die-casting parts for the automotive industry, while Zhuoerbo focuses on the development and production of precision components for micro motors, mainly used in automotive applications [2] - The acquisition is characterized as an industrial merger within the automotive parts supply chain, with significant complementarity and synergy between the two companies in terms of product applications, major customers, sales channels, production processes, technical characteristics, and raw materials [2] Group 2 - Zhuoerbo is projected to achieve an operating income of 1.051 billion yuan and a net profit attributable to the parent company of 154 million yuan in 2024, with total assets amounting to 1.439 billion yuan by the end of 2024 [2] - The transaction includes a commitment from the counterparty that Zhuoerbo's net profits for the years 2025 to 2027 will not be less than 141.5 million yuan, 156.9 million yuan, and 174.1 million yuan respectively, totaling at least 472.5 million yuan over three years [2] - Aikodi believes that this acquisition will enhance its revenue and profit, improve its sustainable profitability, and enrich its product matrix while leveraging the synergies between the two companies for mutual benefit [2]