【导读】拟购买先导电子95.4559%股份，衢州发展股票复牌 8月12日晚间，衢州发展发布公告称，公司拟通过发行股份等方式购买先导电子科技股份有限公司（以下简称先导电子）95.4559%股份，并募集配套资金 （以下简称本次交易）。 经申请，衢州发展股票将于2025年8月13日（星期三）开市起复牌。 拟购买先导电子95.4559%股份 衢州发展股票复牌 根据公告，本次交易包括发行股份购买资产、募集配套资金两部分。本次募集配套资金以发行股份购买资产的成功实施为前提，但募集配套资金成功与否 不影响发行股份购买资产的实施。 其中，衢州发展拟向不超过35名符合条件的特定投资者，以询价的方式发行股份募集配套资金，本次募集配套资金总额不超过30亿元。本次交易募集配套 资金扣除发行费用后的净额拟用于补充上市公司及/或标的公司流动资金或偿还债务、标的公司的项目建设，以及支付本次交易相关税费及中介机构费用 等。 扩展主营业务范围 8月12日，衢州发展发布公告称，公司拟通过发行股份等方式购买先导电子95.4559%股份，并募集配套资金。 | 交易类型 | 交易对方名称 | | --- | --- | | 发行股份购买资产 | 广东 ...

Core Viewpoint - The announcement by Quzhou Development (600208.SH) regarding the acquisition of shares in Xian Dao Electronic Technology Co., Ltd. (Xian Dao Electric) marks a significant shift in the investment landscape, especially following the recent termination of a similar acquisition by Guangzhi Technology (300489.SZ) [1][2]. Group 1: Acquisition Details - Quzhou Development plans to acquire shares from both Guangdong Xiandao Rare Materials Co., Ltd. and other shareholders of Xian Dao Electric, while also raising matching funds [1]. - The controlling shareholder of Quzhou Development is the Quzhou State-owned Assets Supervision and Administration Commission, which indirectly holds 28.83% of the company [2]. Group 2: Financial Comparison - In 2024, Quzhou Development reported revenues of 16.485 billion yuan and a net profit of 1.016 billion yuan, while Xian Dao Electric had total assets of 15.33 billion yuan and net assets of 8.61 billion yuan as of June 30, 2024 [3][4]. - The financial metrics for 2023 show that Quzhou Development, Xian Dao Electric, and Guangzhi Technology had revenues of 17.21 billion yuan, 2.88 billion yuan, and 1.01 billion yuan, respectively, indicating a hierarchy in company size [3][4]. Group 3: Market Position and Growth - Xian Dao Electric has established itself as a leader in the global ITO target material market, achieving over 30% market share since 2022 [7][8]. - The domestic market for planar display sputtering target materials has seen significant growth, with a compound annual growth rate of 18.2% from 2014 to 2020, and the market size reaching 24.6 billion yuan in 2023 [8]. Group 4: Investment Implications - The acquisition by Quzhou Development is characterized as a "reverse merger" due to the size disparity between the companies, which may lower regulatory scrutiny compared to Guangzhi Technology's previous attempt [6][5]. - Xian Dao Electric's financial performance shows a trend of increasing revenue but declining net profit, raising questions about its asset quality [6][10].