Semiconductors▲
Kaiweite Plans 1.65 Billion Yuan Acquisition of 100% Stake in Jingyi Semiconductor
Kaiweite has released a draft major asset restructuring plan, proposing to acquire a 100% stake in Jingyi Semiconductor Co., Ltd. through a combination of share issuance and cash payment, with a transaction price of 1.65 billion yuan, and to simultaneously raise matching funds of no more than 901 million yuan. Jingyi Semiconductor focuses on motor drive and power management power ICs and modules, has launched over 300 products, and is a customer of Kaiweite, with synergies between the two parties in products, markets, and technology. This transaction uses a market approach valuation, with a premium rate of 304.24%, and will create goodwill of approximately 904 million yuan, accounting for 32.46% and 53.28% of pro forma total assets and net assets respectively. The transaction adopts differentiated pricing: the valuation corresponding to shares held by external investors who do not undertake performance commitments is 1.485 billion yuan, while the valuation corresponding to shares held by parties undertaking performance commitments is 1.779 billion yuan. The committed cumulative net profit for the customized chip mass production business in 2026 and 2027 is no less than 255 million yuan, and the cumulative revenue for the self-developed business from 2026 to 2028 is no less than 1.353 billion yuan. Kaiweite has been loss-making for two consecutive years, with cumulative net losses attributable to the parent company of about 188 million yuan in 2024 and 2025. This acquisition is expected to improve the company's financial position.