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四川百亿稀土龙头宣布重大重组
Core Viewpoint - Galaxy Magnetics has initiated an external acquisition of Kyoto Longtai Technology, marking its first external acquisition since its listing in 2010, which is a significant strategic shift for the company [3][10]. Group 1: Acquisition Details - On September 15, Galaxy Magnetics announced a suspension of trading to acquire 100% of Kyoto Longtai's equity, having signed a letter of intent with 14 counterparties [3][10]. - The acquisition will be financed through a combination of issuing shares and cash payments [4][10]. - The deal is expected to enhance Galaxy Magnetics' revenue potential, especially as it aims to break through the 1 billion CNY revenue barrier [18]. Group 2: Company Background - Since its IPO in 2010, Galaxy Magnetics has not engaged in any external acquisitions or refinancing, with its only previous transaction being the sale of a subsidiary [3][5]. - The company has maintained stable financial performance, with revenues fluctuating between 800 million CNY and 1 billion CNY since 2021, and net profits consistently above 150 million CNY [5][12]. - Galaxy Magnetics specializes in bonded neodymium iron boron magnets, primarily used in automotive micro-motors and smart appliances, with 90.33% of its 2024 revenue coming from this segment [12]. Group 3: Market Context - The rare earth industry has seen significant valuation increases due to policy changes, with Galaxy Magnetics' stock price rising from under 13 CNY to over 32 CNY in the past year [3][9]. - The rare earth sector, represented by companies like Northern Rare Earth and China Rare Earth, has experienced an average increase of 150.8% this year, outperforming other sectors [7]. - The acquisition of Kyoto Longtai, which has a 20% market share in the electronic parking brake (EPB) segment, aligns with the growing demand for bonded neodymium iron boron magnets in the automotive industry [14][17].
四川百亿稀土龙头宣布重大重组
21世纪经济报道· 2025-09-16 13:19
记者丨 董鹏 编辑丨骆一帆 异常"稳重"的银河磁体,突然启动了外部并购。 9月15日,银河磁体发布停牌公告,拟购买同在成都的京都龙泰科技有限公司(下称"京都龙泰")100%股权,并与14名交易对方已签署意向性 协议,初步达成购买资产意向。 值得注意的是,自2010年上市以来,银河磁体始终未进行过外部收购与再融资,仅有的一次并购事件还是对外出售其子公司股权,公司又为何 会选择在当前节点展开并购? 公开资料显示,京都龙泰为银河磁体同业公司,主营产品为铁氧体永磁、烧结稀土永磁、粘结稀土永磁,在EPB(电子驻车)用稀土永磁铁氧 体材料领域具备较高市场份额。 而根据银河磁体此前判断,随着汽车向舒适化、节能化、自动化及智能化的发展,汽车电机中用到的粘结钕铁硼磁体将保持增加。 同时,过去几年银河磁体业绩增长也出现瓶颈,公司营收自2022年逼近10亿元的历史峰值后,连续回落至今。 不过,受到稀土行业政策变化的影响,相关公司估值提升非常明显,银河磁体股价亦由去年同期的不足13元升至当前的32元以上,股价升值非 常明显。 此次,银河磁体亦计划使用发行股份及支付现金的方式,来支付收购京都龙泰的交易对价。 由于主营业务的"to B" ...
银河磁体拟购京都龙泰100%股权,上市15年首推股权再融资
Core Viewpoint - Galaxy Magnetics has initiated an external acquisition of Kyoto Longtai Technology, marking its first external acquisition since its listing in 2010, driven by the need to enhance its market position and address recent performance bottlenecks [1][5][10]. Group 1: Acquisition Details - The company plans to acquire 100% of Kyoto Longtai's equity and has signed a letter of intent with 14 counterparties [1][10]. - The acquisition will be financed through a combination of issuing shares and cash payments [2][10]. - The transaction is not expected to change the actual control of Galaxy Magnetics [10]. Group 2: Market Context - The rare earth industry has seen significant valuation increases due to policy changes, with Galaxy Magnetics' stock price rising from under 13 yuan to over 32 yuan in the past year [1][6][9]. - The stock price has remained high, providing a favorable environment for the acquisition, as the company can leverage its increased valuation to minimize costs in the share issuance process [9][10]. Group 3: Company Performance - Galaxy Magnetics has maintained stable financial performance, with revenues fluctuating between 800 million to 1 billion yuan since its listing, and net profits consistently above 150 million yuan [4][11]. - The company has not reported any losses since its IPO and has only engaged in one previous transaction, which was the sale of a subsidiary [4][5]. Group 4: Strategic Rationale - The acquisition of Kyoto Longtai, which specializes in ferrite permanent magnets and has a significant market share in electronic parking brake materials, aligns with Galaxy Magnetics' strategy to capitalize on the growing demand for bonded neodymium iron boron magnets in the automotive sector [1][13]. - The geographical proximity of the two companies facilitates the acquisition process and enhances operational synergies [14]. Group 5: Future Prospects - The successful acquisition could potentially help Galaxy Magnetics surpass the 1 billion yuan revenue threshold, especially with ongoing projects like the second phase of its subsidiary Chengdu Yin Magnetic Materials [15].