Company Overview - Shenzhen Jingzhida Technology Co., Ltd. is located in Longhua District, Shenzhen, Guangdong Province, and was established on May 31, 2011. The company went public on July 18, 2023. Its main business involves the research, development, production, and sales of new display device testing equipment [1] - The revenue composition of the company includes: optical detection and calibration repair systems (52.16%), semiconductor memory device testing (31.06%), aging systems (10.51%), signal generators (4.17%), touch detection systems (1.36%), testing system accessories (0.64%), and others (0.11%) [1] Stock Performance - On December 19, Jingzhida's stock rose by 5.02%, reaching a price of 207.57 yuan per share, with a trading volume of 293 million yuan and a turnover rate of 2.02%. The total market capitalization is 19.514 billion yuan [1] Fund Holdings - Huashan Fund has one fund heavily invested in Jingzhida. The Huashan Intelligent Equipment Theme Stock A (001072) reduced its holdings by 181,300 shares in the third quarter, retaining 184,500 shares, which accounts for 2.94% of the fund's net value, making it the fifth-largest holding. The estimated floating profit today is approximately 1.8303 million yuan [2] - The Huashan Intelligent Equipment Theme Stock A (001072) was established on April 24, 2015, with a current scale of 1.055 billion yuan. Year-to-date returns are 47.51%, ranking 510 out of 4,197 in its category; the one-year return is 48.69%, ranking 416 out of 4,147; and since inception, the return is 251.09% [2]

Core Viewpoint - NAR Co., Ltd. plans to acquire at least 51% of Shanghai Feilai Testing Technology Co., Ltd. for an estimated amount of 350 to 400 million yuan, aiming to enhance its strategic layout and business expansion in the semiconductor equipment sector [1][3]. Group 1: Acquisition Details - The acquisition will not constitute a major asset restructuring, and there are no related party relationships involved [1]. - The investment is part of NAR's cross-industry investment initiative to enrich its industrial structure and enhance its capabilities in emerging business layouts [1][4]. Group 2: Target Company Overview - Feilai Testing specializes in semiconductor chip testing and reliability solutions, with main products including wafer AOI equipment, chip testers, aging systems, and automated loading and unloading equipment [3]. - The company has received various honors, including being recognized as a national-level "Little Giant" and a high-tech enterprise, and has accumulated 45 patent authorizations by the end of 2024 [3]. Group 3: Financial Performance and Projections - Feilai Testing is projected to achieve revenues of 123 million yuan and a net profit of 1.9 million yuan in 2024, with expected revenues of 92.46 million yuan and a net profit of 22.93 million yuan in the first half of 2025 [3]. - The profit commitments for 2025 to 2027 are set at no less than 28 million yuan, 36 million yuan, and 48.2 million yuan, totaling at least 112 million yuan [3]. Group 4: Strategic Implications - The acquisition is a significant step for NAR in implementing its strategy of "vigorously developing new quality productivity," allowing it to enter the semiconductor equipment and components field [3][4]. - NAR aims to leverage Feilai Testing's R&D capabilities and market resources to create new profit growth points and enhance efficiency across R&D, procurement, and sales systems [3][4].