Core Viewpoint - The company, United Optics, is expanding its optical lens business by acquiring 100% of Dongguan Changyi Optoelectronics Co., Ltd. through a combination of share issuance and cash payment, aiming to enhance its capabilities in innovative sectors such as smart driving, new displays, and artificial intelligence [1][2][3]. Group 1: Acquisition Details - United Optics plans to acquire Changyi Optoelectronics, which specializes in the research, production, and sales of optical lenses and precision optical components, with major clients including Sunny Optical and TP-Link [2]. - Changyi Optoelectronics has committed to achieving non-net profit targets of no less than 150 million yuan, 180 million yuan, and 220 million yuan for the years 2025 to 2027, totaling at least 550 million yuan over three years [2][3]. Group 2: Financial Performance - In 2022, United Optics reported a revenue of 1.505 billion yuan, a decrease of 7.99% year-on-year, with net profit and non-net profit declining by 24.72% and 41.6%, respectively [4]. - For 2023, the company achieved a revenue of 1.647 billion yuan, a year-on-year increase of 9.47%, with net profit rising by 15.01% to 64.29 million yuan [4]. - In the first quarter of 2025, United Optics reported a revenue of 369 million yuan, a decline of 3.54% year-on-year, and a net loss of 23.99 million yuan [5]. Group 3: R&D and Innovation - United Optics has significantly increased its R&D investment, with expenditures from 2020 to 2024 totaling 813 million yuan, and a 28.03% increase in Q1 2025 R&D spending to 63 million yuan [6]. - The company is expanding production capacity, with new production lines for AR/VR modules and automotive lenses, aiming for a production capacity of 30 million units per year by 2025 [6]. - The company has seen substantial growth in its innovative sectors, with AR/VR product revenue increasing by approximately 41% and automotive electronic product output rising by over 50% year-on-year [6].

6月4日，联合光电(300691)股票迎来复牌。在此之前，公司披露的公告显示，拟通过发行股份的方式收 购长益光电100%股份并募集配套资金，本次交易预计不构成重大资产重组。 从行业角度来看，此次并购属于横向并购，联合光电是一家集光成像、光显示、光感知为核心技术的专 业镜头、光电产品的制造商及光学系统解决方案提供商，而长益光电则致力于光学镜头及光学精密零部 件产品的研发、生产和销售，双方同属光学镜头行业。 针对此次同行业内的整合并购，证券时报记者相继采访了联合光电实际控制人、副董事长、总经理邱盛 平，和长益光电实际控制人之一、董事、总经理殷海明，分别从并购两方的角度解读此次并购带来的意 义。 对于收购标的长益光电，邱盛平赞不绝口："长益光电的创始人和管理团队在光电镜头行业精耕细作了 十几年，有着丰富深厚的行业经验。长益光电在镜头产品的精益加工制造和成本管控能力上有突出的优 势，在泛安防镜头和手机镜头领域覆盖了一批行业头部客户，形成了较好的市场竞争力和市场规模。整 体来说，长益光电的质地和运营都比较成熟，比较契合公司产业链横向拓展的战略。" 在交流中，邱盛平格外重视泛安防市场的发展潜力。根据TSR的行业报告，未来 ...

Group 1 - The core point of the news is that the company plans to acquire 100% of Dongguan Changyi Optoelectronics Co., Ltd. through a share issuance and raise supporting funds, leading to a temporary suspension of its stock trading starting May 20, 2025 [2] - Changyi Optoelectronics focuses on the research, production, and sales of optical lenses and precision optical components, with major products including mobile phone lenses and security lenses, serving well-known clients such as Sunny Optical, TP-Link, and Ruijie Technology [2] - In 2023, 2024, and the first quarter of 2025, sales to the top five customers accounted for over 70% of Changyi Optoelectronics' revenue, with sales to the largest customer, Sunny Optical, exceeding 50% [2] Group 2 - The acquisition is expected to create significant synergies in industry, market, technology, and management between the two companies, enhancing the listed company's manufacturing capabilities and cost control [3] - The transaction is anticipated to improve market share and sustainable profitability for the listed company, aligning with its long-term development and the interests of all shareholders [3] - The supporting fundraising projects from the transaction will boost the business scale and development quality of Changyi Optoelectronics, further enhancing its growth potential [3]