Ultrapower(SZ:300002)2022-12-08 09:26Company Overview - The company operates in four main business segments: software development and technical services, telecommunications, internet entertainment, and internet education [1][2]. - The software development and technical services segment is the primary source of revenue and profit, contributing significantly to the company's overall performance [1]. Acquisition Plans - The company plans to acquire Tianyuan Network for a total consideration of 800 million CNY, with a valuation of 496 million CNY based on asset-based valuation [3][4]. - The acquisition aims to enhance the company's operational management capabilities, particularly in the telecommunications sector, where Tianyuan Network has strong technical expertise but weaker sales capabilities [3]. Financial Projections - The acquisition of Xiangsheng Software is valued at 309 million CNY, with profit commitments of no less than 20 million CNY, 32 million CNY, 40 million CNY, and 48 million CNY for the years 2014 to 2017, totaling 140 million CNY [3][4]. - The company anticipates stable annual orders of 180-200 million CNY from Tianyuan Network, with 50% expected from telecommunications operators and the other 50% from the power and military sectors [5]. Business Growth Areas - The telecommunications segment is noted for its rapid growth, focusing on integrated communication services and providing APP services [2]. - The internet entertainment segment includes game development, with stable revenue from existing games and new releases expected to contribute positively [2]. - The internet education segment is seen as having significant growth potential, driven by market demand and government policies [2][3]. Strategic Focus - The company emphasizes the importance of innovation and diversification to support its market value, aiming to integrate various business lines effectively [4][5]. - A flat organizational structure and clear communication are highlighted as key principles for successful business integration and decision-making [5].