Core Viewpoint - The significant rise in the stock price of Upwind New Materials is primarily attributed to the acquisition by Zhiyuan Robotics, which has led to speculation about a potential reverse merger and substantial market interest [2][3][4]. Company Overview - Upwind New Materials was established in 2000 and specializes in products such as vinyl ester resin, special unsaturated polyester resin, and infusion resin for wind turbine blades, serving industries like power plants and copper smelting [2]. - The company went public on the Sci-Tech Innovation Board in September 2020 [2]. Financial Performance - For 2024, Upwind New Materials is projected to achieve a revenue of 1.494 billion yuan, reflecting a growth of 6.73%, with a net profit attributable to shareholders of 88.6814 million yuan, an increase of 25.01% [2]. - In the first quarter of 2025, both revenue and net profit are expected to show double-digit growth [2]. Acquisition Details - On July 2, Upwind New Materials announced a suspension of trading due to a planned change in control by its major shareholder [2]. - Zhiyuan Robotics is set to acquire at least 63.62% of Upwind New Materials, with the acquisition structured in two phases: a 29.99% stake through agreement transfer and a 37% stake via a tender offer [3]. - The total cost for Zhiyuan Robotics to gain control could reach approximately 2.1 billion yuan [3]. Management Changes - Following the acquisition, the controlling shareholder will shift to Zhiyuan Robotics and its management team, with the actual controller being the founder and CEO, Deng Taihua [3]. - The core team includes experienced professionals from major companies, including former Huawei engineers [3]. Market Reaction - The announcement of the acquisition led to a significant increase in Upwind New Materials' stock price, with a 20% limit up on the first trading day after resuming trading [4]. - As of July 28, the stock price reached a high of 77.44 yuan, marking a 13.12% increase and a total market capitalization of 30.143 billion yuan [2][4].