Core Viewpoint - NAR Co., Ltd. plans to acquire at least 51% of Shanghai Feilai Testing Technology Co., Ltd. for an estimated transaction 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 involves NAR Co., Ltd. signing a share acquisition intention agreement with Shanghai Feiguang Management Consulting Partnership and Zhang Hua [1]. - The transaction is expected to provide NAR with control over Feilai Testing, a high-tech enterprise specializing in semiconductor chip testing reliability solutions [3]. Group 2: Company Profile of Feilai Testing - Feilai Testing is headquartered in Shanghai and has manufacturing bases in Wuxi and Nantong, recognized as a national-level "little giant" enterprise [3]. - The company offers a comprehensive range of solutions from wafer to device, including equipment like wafer AOI devices, chip testers, and aging systems, under its own brand "FeedLiTech" [3]. Group 3: Financial Projections - Feilai Testing is projected to achieve a revenue of 123 million yuan and a net profit of 1.9 million yuan in 2024, with further growth expected in 2025 [3]. - The performance commitment includes net profits of no less than 28 million yuan, 36 million yuan, and 48.2 million yuan for the years 2025 to 2027, totaling at least 112 million yuan [3]. Group 4: Strategic Implications - This acquisition reflects NAR's strategic shift from precision coating materials manufacturing to high-end equipment manufacturing and core semiconductor sectors, aiming to cultivate new growth drivers and enhance production capabilities [3].

Core Viewpoint - NAR Co., Ltd. plans to enter the semiconductor sector by acquiring at least 51% of Shanghai Feilai Testing Technology Co., Ltd. for approximately 350 million to 400 million yuan, which has led to a significant increase in its stock price [2][4][14]. Group 1: Acquisition Details - The acquisition involves a high premium, with Feilai Testing's total asset valuation at 750 million yuan, representing an increase of approximately 255.45% [3][6]. - Feilai Testing, established in May 2018, specializes in semiconductor chip testing reliability solutions and has already achieved profitability, reporting a net profit of 22.93 million yuan in the first half of 2025 [3][7][11]. - The transaction is expected to provide NAR with control over Feilai Testing, allowing it to enter the semiconductor equipment and components market [6][8]. Group 2: Financial Performance - NAR's revenue has shown growth from 549 million yuan in 2016 to 1.9 billion yuan in 2024, but the growth rate has been slow, with net profits also increasing at a sluggish pace [9]. - In the first half of 2025, NAR reported revenues of 972 million yuan and a net profit of 115 million yuan, marking a year-on-year increase of 4.10% and 79.15%, respectively [9][11]. - The company has previously attempted to find new growth avenues, including investments in other companies, but faced challenges with profitability in those ventures [10][11]. Group 3: Strategic Intent - The acquisition is part of NAR's strategy to create a second growth curve and overcome the limitations of its existing business model [5][12]. - The company aims to leverage this acquisition to explore new profit growth opportunities in the semiconductor industry [8][12].

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].

Core Viewpoint - Nal Shares (002825) announced a share acquisition agreement with Shanghai Feiguang Management Consulting Partnership and Zhang Hua, aiming for a controlling stake in Shanghai Feilai Testing Technology Co., Ltd. with an investment amount estimated between RMB 350 million to 400 million [1] Group 1: Investment Details - The investment will result in the investors holding no less than 51% of the target company, thereby gaining control [1] - The overall valuation of the target company is estimated at RMB 750 million, with the final transaction price to be determined based on an assessment by a designated evaluation agency [1] Group 2: Company Profile - Shanghai Feilai Testing specializes in semiconductor chip testing reliability solutions, offering comprehensive solutions from wafers to devices, including various testing and aging equipment [1] - The company has received several honors, including being recognized as a national-level "specialized and innovative" small giant and a high-tech enterprise [1] Group 3: Financial Performance - For the fiscal year 2024, Shanghai Feilai Testing reported revenues of RMB 123 million and a net profit of RMB 1.9043 million [2] - In the first half of 2025, the company achieved revenues of RMB 92.4645 million and a net profit of RMB 2.29338 million [2] - The controlling shareholder has committed to achieving net profits of no less than RMB 28 million, 36 million, and 48.2 million for the years 2025 to 2027, totaling at least RMB 112.2 million [2]

Core Viewpoint - Nal Shares (002825) announced a plan to acquire a controlling stake in Shanghai Feilai Testing Technology Co., Ltd. through a share purchase agreement, with an estimated investment amount of approximately 350 to 400 million yuan [1] Group 1: Investment Details - The company intends to acquire at least 51% of Feilai Testing's shares, thereby gaining control over the target company [1] - The transaction amount is expected to be around 350 to 400 million yuan [1] Group 2: Company Profile - Feilai Testing specializes in semiconductor chip testing reliability solutions, offering comprehensive solutions from wafers and chips to devices [1] - The company provides various equipment including wafer AOI devices, chip testers, automatic loading and unloading equipment, aging systems, and COB testers, under its own brand "FeedLiTech" [1] Group 3: Financial Implications - Preliminary assessments indicate that Feilai Testing's revenue for 2024 will account for less than 50% of the listed company's total revenue [1] - Financial metrics such as total assets, net assets, and net profit do not meet the criteria for a significant asset restructuring as per the relevant regulations [1] - The counterparties in the investment agreement are not related parties to the listed company, thus the agreement does not constitute a related party transaction [1]

Core Viewpoint - NAR Co., Ltd. is acquiring a controlling stake in Feilai Testing Technology Co., Ltd. through a share purchase agreement, with an estimated transaction value of approximately 350 to 400 million yuan, which will enhance its industry layout and provide new growth opportunities in the semiconductor equipment sector [1][3]. Group 1: Investment Details - The investment will result in NAR holding at least 51% of Feilai Testing, thereby gaining control over the company [1]. - The expected revenue contribution from Feilai Testing to NAR's total revenue in 2024 is projected to be less than 50% [1]. - The financial metrics of Feilai Testing do not meet the criteria for a major asset restructuring as per regulatory standards [1]. Group 2: Feilai Testing Overview - Feilai Testing specializes in semiconductor chip testing reliability solutions, offering a comprehensive range of products including wafer AOI equipment and chip testers [2]. - The company has received multiple honors, including national-level "Little Giant" and high-tech enterprise designations, and holds 45 patents as of December 2024 [2]. - Feilai Testing's projected revenues for 2024 and the first half of 2025 are 123 million yuan and 92.46 million yuan, respectively, with net profits of 1.90 million yuan and 22.93 million yuan [2]. Group 3: Strategic Rationale - The acquisition aligns with NAR's strategic direction to diversify its business and leverage its financial stability and operational cash flow [3]. - NAR aims to enhance its presence in the semiconductor equipment sector, seeking new profit growth points through this acquisition [3]. - The company has prior indirect investment in Feilai Testing, providing it with foundational knowledge of the target's operations and market [3]. Group 4: Future Integration Plans - Post-acquisition, NAR plans to streamline Feilai Testing's management systems across sales, procurement, and R&D while ensuring operational stability [4]. - The integration aims to maximize resource utilization and achieve synergies in cost control, market expansion, and production technology [4]. - The goal is to enhance NAR's overall competitiveness through effective resource sharing and complementary advantages [4].

Core Viewpoint - Nal Shares (002825.SZ) has signed a share acquisition intention agreement with Shanghai Feiguang Management Consulting Partnership (Limited Partnership) and Zhang Hua, aiming to acquire a controlling stake in Shanghai Feilai Testing Technology Co., Ltd. through the purchase of shares from the seller, with the transaction amount expected to be around RMB 350 million to 400 million [1] Group 1: Investment Details - The investment will result in the investors holding no less than 51% of the shares in the target company, thereby gaining control [1] - The specific share transfer ratio will be clarified in the formal transaction agreement [1] Group 2: Company Overview - Shanghai Feilai Testing Technology Co., Ltd. specializes in semiconductor chip testing reliability solutions, offering comprehensive solutions from wafers and chips to devices [1] - The company provides various equipment including wafer AOI devices, chip testers, COCO automatic loading and unloading equipment, CoC aging systems, COB testers, and SoC aging equipment, under its own brand "FeedLiTech" [1] - The company is headquartered in Shanghai, with manufacturing bases located in Wuxi and Nantong, Jiangsu [1] Group 3: Achievements and Recognition - Shanghai Feilai has received several honors, including national-level specialized and innovative "little giant," high-tech enterprise, and specialized and innovative enterprise [1] - As of December 2024, the company has obtained 45 patent authorizations, including 29 utility model patents, 12 invention patents, and 4 design patents [1]

Core Viewpoint - The company, Nal Shares (002825.SZ), has signed a share acquisition intention agreement to invest in Shanghai Feilai Testing Technology Co., Ltd., aiming to gain control with at least 51% ownership after the transaction, which is expected to be valued between RMB 350 million to 400 million [1] Group 1: Investment Details - The investment will be executed through acquiring shares held by Shanghai Feiguang Management Consulting Partnership and Zhang Hua [1] - The estimated transaction amount is approximately RMB 350 million to 400 million [1] Group 2: Target Company Overview - Shanghai Feilai Testing Technology Co., Ltd. specializes in semiconductor chip testing reliability solutions, offering comprehensive solutions from wafers and chips to components [1] - The company provides various equipment including wafer AOI devices, chip testers, COCO automatic loading and unloading equipment, CoC aging systems, COB testers, and SoC aging equipment, under its own brand "FeedLiTech" [1] Group 3: Strategic Implications - Following the transaction, the target company will become a subsidiary of the listed company, aligning with the strategy to develop new productive forces and stabilize core operations while exploring new fields [1] - The move aims to enter the semiconductor equipment and component sectors to secure new profit growth points and development opportunities [1]

Core Viewpoint - The company has signed a share acquisition intention agreement with Shanghai Feiguang Management Consulting Partnership and Zhang Hua, aiming to acquire a controlling stake in Shanghai Feilai Testing Technology Co., Ltd. through the purchase of shares [1] Group 1: Transaction Details - The investment amount is expected to be between RMB 350 million and 400 million [1] - Post-transaction, the investor will hold no less than 51% of the target company's shares, gaining control over it [1] Group 2: Target Company Overview - Shanghai Feilai Testing Technology Co., Ltd. specializes in semiconductor chip testing reliability solutions [1] - The company offers a comprehensive range of solutions from wafers, chips to devices, including wafer AOI equipment, chip testers, COCO automatic loading and unloading equipment, CoC aging systems, COB testers, and SoC aging equipment [1] - The target company owns the proprietary brand "FeedLiTech" [1]

Core Viewpoint - Nal Shares (002825.SZ) announced a strategic investment in Shanghai Feilai Testing Technology Co., Ltd., aiming to acquire at least 51% of the company's equity, thereby gaining control over it. The transaction is valued between RMB 350 million to 400 million, reflecting the company's intent to expand into the semiconductor equipment sector and enhance its profit growth opportunities [1][1][1]. Group 1: Investment Details - The investment involves a share acquisition agreement with Shanghai Feiguang Management Consulting Partnership and Zhang Hua [1]. - The expected transaction amount is approximately RMB 350 million to 400 million [1]. - Post-transaction, Shanghai Feilai Testing Technology will become a subsidiary of the listed company [1]. Group 2: Company Focus - Shanghai Feilai Testing Technology specializes in semiconductor chip testing reliability solutions, offering comprehensive solutions from wafers to devices [1]. - The company provides various equipment, including wafer AOI devices, chip testers, automatic loading and unloading equipment, aging systems, and COB testers, under its own brand "FeedLiTech" [1]. - This acquisition aligns with the listed company's strategy to develop new productive capabilities and stabilize its main business while exploring new fields [1].