Core Viewpoint - The company plans to acquire a 5.2957% stake in Lianchuang Automotive Electronics Co., Ltd. for no more than 154.783804 million RMB, which constitutes a related party transaction but does not qualify as a major asset restructuring [1][2][12]. Group 1: Transaction Overview - The acquisition is part of the company's strategy to enhance its "smart chassis" business matrix in line with industry trends towards intelligence [2][12]. - The transaction involves six shareholders of Lianchuang Electronics, including Shanghai Guozhi State-owned Enterprise Reform Pilot Private Equity Fund Partnership, Shanghai Xintai Information Technology Co., Ltd., and others [2][12]. - The transaction will be funded entirely from the company's own funds, with payment to be made within 3-10 working days after the delivery date [3][12]. Group 2: Financial Details - The total consideration for the acquisition is capped at 154.783804 million RMB, based on an independent valuation of Lianchuang Electronics' equity [11][12]. - The valuation report indicates that Lianchuang Electronics has a net asset book value of 282.3357 million RMB, with a market value assessed at 292.282 million RMB [11][12]. - The company reported a revenue of 1,558.184 million RMB for 2024, with total assets of 1,679.121 million RMB and net assets of 452.357 million RMB [8][12]. Group 3: Strategic Implications - The acquisition is expected to facilitate collaboration between the company and Lianchuang Electronics in the fields of smart chassis and intelligent networking, enhancing the product portfolio and accelerating business transformation [12]. - This move aligns with the industry's shift towards intelligent control systems in the automotive sector, particularly in the context of electric vehicles [12].

Core Insights - Smart suspension supplier Shijia Technology has recently completed a multi-hundred million yuan Series A strategic financing led by Geely Xingyuan, with participation from several industry capitals and Tongji University Innovation Fund [2][4] - The company aims to become a representative enterprise in China's suspension sector within the global top 100 supply chains over the next decade [4] Company Overview - Established in 2021 and located in Shanghai, Shijia Technology focuses on the independent research and development of smart suspension control systems and air supply units [3] - The core team comprises members from top universities such as Tongji University, Tsinghua University, Beijing Institute of Technology, and the University of Stuttgart, all with over ten years of experience in OEM and international component industries [3] - The company has successfully launched innovative products like the "eight-in-one integrated closed air supply module" and "fully active air suspension system," significantly enhancing the driving experience under complex conditions [3] Financing Purpose - The financing will primarily be used for the research and development of key technologies for the third-generation fully active suspension and the construction of an advanced smart manufacturing center with an annual production capacity of 500,000 sets [4] Investment Rationale - Geely Xingyuan's representatives highlighted Shijia Technology's strong technical capabilities and innovation in the smart suspension field, along with the core team's extensive industry experience and the company's full-stack development and mass production capabilities [5] - The investment aligns with the automotive industry's trend towards intelligence and Geely Xingyuan's strategic focus on cutting-edge technology, with Shijia Technology expected to occupy a significant position in the smart suspension market [5] Investment Ecosystem Perspective - The investment reflects the high importance placed on smart suspension as a key component of automotive intelligence, receiving significant government and industry attention [6] - Recent government policies have supported innovation in automotive component enterprises, and local governments have actively provided support for company operations [6] - This financing not only showcases Shijia Technology's technical strength and market potential but also indicates investor confidence in its future development, contributing to the advancement of smart suspension technology and the upgrading of the automotive industry [6]