Core Viewpoint - Youyan Silicon has terminated its major asset restructuring plan to acquire approximately 60% of the shares of Gaofeng (Beijing) Technology Co., Ltd. due to failure to reach consensus on certain commercial terms [1][2] Group 1: Transaction Details - The transaction was initially announced on March 5, 2025, with the intention to pay cash for the acquisition [1] - The termination agreement was signed after thorough discussions and negotiations among the parties involved [1][2] - The target company specializes in ultra-pure water systems for chip manufacturing and has developed core technologies in this field, aiming for domestic substitution of foreign technologies [2] Group 2: Financial Performance - Youyan Silicon's net profit has been declining for two consecutive years, with a reported revenue of 960.40 million yuan in 2023, down 18.29% year-on-year [4] - The net profit attributable to shareholders was 254.18 million yuan in 2023, a decrease of 27.65% [4] - In 2024, the company reported a total revenue of 995.95 million yuan, a year-on-year increase of 3.70%, but the net profit still declined by 8.37% to 232.90 million yuan [4] Group 3: Initial Public Offering (IPO) Information - The company raised a total of 1.85 billion yuan from its IPO, with a net amount of 1.66 billion yuan after deducting issuance costs [3] - The IPO was conducted on November 10, 2022, with 187,143,158 shares issued at a price of 9.91 yuan per share [2][3] - The funds raised were intended for projects related to the production of 8-inch silicon wafers and other operational needs [3]

Core Viewpoint - The article discusses the impact of the US-China tariff war on the scientific instrument industry, emphasizing the importance of domestic substitution as a key strategy for overcoming challenges posed by high tariffs [2][3][4]. Group 1: Tariff War Impact - The US government initiated a global tariff war, raising tariffs on all Chinese imports to over 145%, prompting China to respond with a 125% tariff on US goods [4]. - A significant shift occurred on May 12, when both countries announced a reduction of tariffs to 10%, indicating a temporary easing of tensions [4]. - Experts believe that while tariffs may decrease, the scientific instrument industry must remain vigilant about its reliance on imported high-end equipment [4][5]. Group 2: Domestic Substitution Demand - The demand for domestic substitutes has surged, with a notable shift in the market where the share of domestic microwave digestion instruments increased from 10% to 80% over 20 years [5]. - The trend of domestic substitution is not just a response to tariffs but has become a necessity for ensuring the stability of supply chains and national security [6][7]. - Institutions are now required to consider domestic equipment in their procurement processes, reflecting a broader commitment to supporting local manufacturers [7]. Group 3: Challenges and Future Directions - Despite the progress in domestic substitution, concerns remain regarding the reliability and long-term stability of domestic instruments compared to imported ones [8][9]. - Experts suggest that improving the reliability of domestic instruments is crucial, as many users still perceive a gap in performance [9][10]. - The future of domestic instruments may lie in integrating automation and smart technologies, as well as focusing on specific research areas like single-cell analysis and environmental monitoring [10].