Core Viewpoint - Yongda Co., Ltd. is initiating a significant acquisition to strengthen control over its core subsidiary, JinYuan Equipment, by acquiring an additional 49% stake, aiming to enhance its market position in the high-end equipment sector [1][3]. Group 1: Acquisition Details - Yongda plans to acquire 49% of JinYuan Equipment through a combination of issuing shares and cash payments, while also raising additional funds from specific investors [3]. - The acquisition will result in JinYuan Equipment becoming a wholly-owned subsidiary of Yongda, following a previous acquisition of 51% of the company for 612 million yuan [1][6]. - The deal includes a profit commitment from JinYuan Equipment, ensuring a cumulative net profit of no less than 330 million yuan from 2025 to 2028 [1][8]. Group 2: Financial Performance - JinYuan Equipment reported a net profit of 197 million yuan in the first nine months of 2025, surpassing the total net profit of 2023 and 2024 combined [2][9]. - Yongda's revenue increased significantly to 1.526 billion yuan in the first three quarters of 2025, a 256.86% year-on-year growth, with net profits also showing substantial improvement [8]. - The financial data indicates that JinYuan Equipment has a strong operational capacity, with total assets of 2.015 billion yuan and total liabilities of 706 million yuan as of September 2025 [10]. Group 3: Strategic Importance - The acquisition is part of Yongda's strategy to expand its product offerings from metal structural components to high-end forged products, enhancing its competitive edge in the market [5][10]. - By consolidating JinYuan Equipment under its full control, Yongda aims to improve decision-making efficiency and strengthen the strategic role of JinYuan in its overall business development [6][10].

Group 1 - The core point of the article is that Yongda Co., Ltd. is planning to acquire 100% control of Jiangsu Jinyuan High-end Equipment Co., Ltd. through a two-step acquisition process, enhancing its market position in the high-end equipment sector [1][2][3] Group 2 - Yongda Co., Ltd. intends to purchase the remaining 49% stake in Jinyuan Equipment at a price of 13.96 yuan per share, following an initial acquisition of 51% for 612 million yuan [2][4] - The acquisition will make Jinyuan Equipment a wholly-owned subsidiary of Yongda Co., Ltd., with a performance commitment to achieve a net profit of no less than 330 million yuan during the commitment period from 2025 to 2028 [2][3] - Jinyuan Equipment specializes in the research, production, and sales of high-speed heavy-duty gear forgings, which are essential components in various industries such as wind power and engineering machinery [3][5] - The acquisition is expected to enhance Yongda Co., Ltd.'s control and equity stake in Jinyuan Equipment, thereby improving its profitability and consolidating its leading position in the high-end metal structure and forging sector [3][6] - The previous attempts by Jinyuan Equipment to go public were unsuccessful, with three IPO applications withdrawn over the years [3][5]

Group 1 - The core point of the article is that Xiangtan Yongda Machinery Manufacturing Co., Ltd. plans to acquire the remaining 49% stake in Jiangsu Jinyuan High-end Equipment Co., Ltd. through a combination of issuing shares and cash payment, which will enhance its integration in the high-end forging sector and regional layout [1][2] - The acquisition will be financed by raising matching funds from no more than 35 specific investors, with the total amount not exceeding 100% of the transaction price, and the number of shares issued will not exceed 30% of the total share capital post-transaction [1] - The historical context shows that Yongda previously acquired 51% of Jinyuan for 612 million yuan, which significantly improved its performance as reported in the Q3 2025 financials [1] Group 2 - The acquisition is seen as a critical step in deepening the company's main business layout, with Jinyuan's production base complementing Yongda's existing operations, allowing for mutual penetration of customer resources [2] - The counterpart has committed to performance guarantees for Jinyuan from 2025 to 2027, ensuring continuity with previous commitments, and the company currently has sufficient orders, with the wind power industry's recovery expected to drive demand growth [2] - The capital operation logic of using a combination of share issuance and cash payment alleviates short-term cash flow pressure while optimizing the capital structure, aligning with current regulatory guidelines for mergers and acquisitions [3]

Core Viewpoint - Yongda Co., Ltd. plans to acquire 49% equity of Jinyuan Equipment from Ge Yanming through a combination of issuing shares and cash payment, aiming to gain 100% ownership of Jinyuan Equipment, which will become a wholly-owned subsidiary after the transaction [1][3]. Group 1: Transaction Details - The transaction consists of two parts: the acquisition of assets through share issuance and cash payment, and the fundraising through share issuance, contingent on the successful execution of the asset purchase [1]. - The share issuance price is set at 13.96 CNY per share, which is not less than 80% of the average trading price over the previous 20 trading days [2]. - The total amount of funds raised through the share issuance will not exceed 100% of the transaction price paid through share issuance [3]. Group 2: Financial Performance of Jinyuan Equipment - Jinyuan Equipment's projected total revenue for 2024 is 135 million CNY, with a net profit of approximately 74.4 million CNY [3]. - The company reported significant growth in revenue and net profit for the first three quarters of 2025, with total revenue reaching 117 million CNY and a projected net profit indicating substantial growth [3]. - Key financial data for Jinyuan Equipment shows total assets of approximately 201.5 million CNY and total liabilities of about 70.6 million CNY as of September 30, 2025 [4]. Group 3: Strategic Implications - The acquisition is expected to enhance synergy, improve profitability, and strengthen decision-making efficiency for Yongda Co., Ltd. [5]. - The transaction will allow Yongda to share development results with the original controlling shareholder of Jinyuan Equipment, enhancing motivation and strategic alignment [5].

Group 1 - The core point of the article is that Yongda Co., Ltd. plans to acquire a 49% stake in Jiangsu Jinyuan High-end Equipment Co., Ltd. from Ge Yanming through a combination of issuing shares and cash payment, which will make Jinyuan Equipment a wholly-owned subsidiary of Yongda [2] - Before the transaction, Yongda held a 51% stake in Jinyuan Equipment, and after the completion of the transaction, the company will increase its control and equity ratio in Jinyuan Equipment [2] - The company intends to raise funds from no more than 35 qualified investors, with the total amount not exceeding 100% of the transaction price for the asset acquisition, and the number of shares issued will not exceed 30% of the total share capital after the issuance [2] Group 2 - Jinyuan Equipment specializes in the research, production, and sales of high-speed heavy-duty gear forgings, with main products including high-speed heavy-duty gear forgings, gear shaft forgings, and gear ring forgings [2] - Yongda Co., Ltd. aims to enhance its profitability and consolidate its leading position in the field of large, irregular, high-end specialized equipment metal structures and forgings through this acquisition [2]

Group 1 - The company plans to acquire a 49.00% stake in Jinyuan Equipment from Mr. Ge Yanming through a combination of issuing shares and cash payment [1] - After the transaction, Jinyuan Equipment will become a wholly-owned subsidiary of the company, which currently holds a 51.00% stake [1] - The company intends to issue shares to no more than 35 qualified investors to raise funds, with the total amount not exceeding 100% of the asset purchase price [1] Group 2 - Jinyuan Equipment is a high-tech enterprise specializing in the R&D, production, and sales of high-speed heavy-duty gear forgings [1] - The main products include high-speed heavy-duty gear forgings, gear shaft forgings, and gear ring forgings, which are core components of gearboxes [1] - The products are widely used in industries such as wind power, construction machinery, rail transportation, and marine engineering [1]

Core Viewpoint - The company intends to acquire a 49.00% stake in Jinyuan Equipment from Mr. Ge Yanming through a combination of issuing shares and cash payment, which will result in Jinyuan Equipment becoming a wholly-owned subsidiary of the listed company [1] Group 1: Transaction Details - The company plans to raise funds by issuing shares to no more than 35 qualified investors, with the total amount not exceeding 100% of the transaction price for the asset acquisition [1] - The number of shares issued will not exceed 30% of the total share capital of the listed company after the acquisition [1] Group 2: Target Company Overview - Jinyuan Equipment is a high-tech enterprise specializing in the R&D, production, and sales of high-speed heavy-duty gear forgings, with capabilities in producing large, irregular, high-end, and large-scale metal forgings [1] - The main products include high-speed heavy-duty gear forgings, gear shaft forgings, and gear ring forgings, which are core components of gearboxes widely used in wind power, construction machinery, rail transportation, and marine engineering [1] - The target company holds a significant market influence in the field of high-speed gearbox forgings and possesses a leading market advantage [1] Group 3: Strategic Implications - This transaction will enhance the company's control and equity stake in Jinyuan Equipment, improving its sustainable profitability [1] - The acquisition will further solidify the company's leading position in the field of large, irregular, high-end specialized metal structural components and forgings, reinforcing its core competitiveness [1]

Core Viewpoint - The company plans to acquire a 49.00% stake in Jinyuan Equipment from Mr. Ge Yanming through a combination of issuing shares and cash payment, which will result in Jinyuan Equipment becoming a wholly-owned subsidiary of the listed company [1] Group 1: Transaction Details - The company intends to raise funds by issuing shares to no more than 35 qualified investors, with the total amount not exceeding 100% of the transaction price for the asset acquisition [1] - The number of shares issued will not exceed 30% of the total share capital of the listed company after the acquisition [1] Group 2: Target Company Overview - Jinyuan Equipment is a high-tech enterprise specializing in the R&D, production, and sales of high-speed heavy-duty gear forgings, with capabilities in producing large, irregular, high-end, and large-scale metal forgings [1] - The main products include high-speed heavy-duty gear forgings, gear shaft forgings, and gear ring forgings, which are core components of gearboxes widely used in wind power, construction machinery, rail transportation, and marine engineering [1] - The target company holds a strong market influence and competitive advantage in the field of high-speed gearbox forgings [1] Group 3: Strategic Implications - This transaction will enhance the company's control and equity stake in Jinyuan Equipment, improving its sustainable profitability [1] - The acquisition will further solidify the company's leading position in the field of large, irregular, high-end specialized equipment metal structural components and forgings, reinforcing its core competitiveness [1]

Core Viewpoint - The company, Yongda Co., Ltd., has reported significant changes in its financial data due to the acquisition of a 51% stake in Jiangsu Jinyuan High-end Equipment Co., Ltd., which is expected to enhance its product offerings and optimize management structure [5]. Financial Data Summary - The quarterly report confirms that the financial information is accurate and complete, with no false records or major omissions [2]. - The third-quarter financial report has not been audited [3][8]. - The company has not made any retrospective adjustments or restatements of previous accounting data [3]. Acquisition Impact - The acquisition of Jiangsu Jinyuan High-end Equipment Co., Ltd. is a strategic move to expand the company's metal forging product business, which includes high-speed heavy-duty gear forgings and related products [5]. - The acquisition is expected to improve the company's performance and management structure [5]. Board Meeting and Resolutions - The second board meeting of the company was held on October 27, 2025, with all directors present, and the meeting complied with legal regulations [9]. - The board approved the third-quarter report and the internal audit work summary for the third quarter, along with the plan for the fourth quarter [11][12].

Core Viewpoint - Yongda Co., Ltd. (001239) emphasizes its role in the emerging "deep earth economy," which focuses on the development of underground spaces and resources, including geological exploration and underground engineering [1] Company Overview - Yongda Co., Ltd. specializes in the production and sales of large specialized equipment metal structural components and high-speed heavy-duty gear forgings [1] - The company serves as a core supplier for China Railway Construction Heavy Industry Co., Ltd., providing a range of metal structural products such as shield bodies, cutter heads, and segment machines [1] Industry Contribution - Yongda Co., Ltd. plays a significant role in the construction of underground engineering projects within the deep earth economy, supplying essential components for tunnel boring machines [1] - Notable projects include the ultra-large diameter tunnel boring machine "Dinghai" developed by China Railway 11th Bureau and China Railway Construction Heavy Industry, as well as the "Dream" vertical shaft tunneling machine, both of which utilize components produced by Yongda Co., Ltd. [1]