Yachuang electronics, which just landed in the capital market in November 2021, plans to expand its business market through M & A.
On January 9, Yachuang electronic announced that in order to further optimize the company’s strategic development and quickly expand the layout of the passive component market, the company purchased 55% of the equity of Shenzhen Yi Hytera Communications Corporation Limited(002583) Co., Ltd. (hereinafter referred to as “Yi Hytera Communications Corporation Limited(002583) “) focusing on the passive component Market with its own funds or self raised funds.
In this transaction, Yachuang electronics plans to increase the capital of Yi Hytera Communications Corporation Limited(002583) by 40 million yuan in cash and pay a total equity transfer of 76.66 million yuan to the counterparty. After the transaction is completed, the listed company will obtain 55% of the fully diluted equity of the target company, and Yi Hytera Communications Corporation Limited(002583) will become the holding subsidiary of the company and be included in the scope of the company’s consolidated statements.
Yi Hytera Communications Corporation Limited(002583) is mainly engaged in the agent distribution of electronic components and semiconductor technology R & D and sales services. The application fields and customer groups involved in the products cover many industries and fields such as communication, automobile, industrial control, medical treatment, household appliances, lighting, power supply, security, new energy and consumer electronics. The main products include passive devices, semiconductor discrete devices, IC and module products. The announcement disclosed that in 2020 and the first 11 months of 2021, the company realized net profits of 16.7536 million yuan and 33.6414 million yuan respectively.
In this transaction, Yachuang electronics also gave a high premium.
According to the income method, the value of all shareholders’ equity of Yi Hytera Communications Corporation Limited(002583) on the benchmark date of November 30, 2021 is 202 million yuan, with a value-added amount of 158 million yuan and a value-added rate of 362.16%. According to the market method, the value of all shareholders’ equity of Yi Hytera Communications Corporation Limited(002583) on the benchmark date of November 30, 2021 is 208 million yuan, with a value-added amount of 164 million yuan and a value-added rate of 375.89%.
Yachuang electronics believes that Yi Hytera Communications Corporation Limited(002583) focuses on the distribution of electronic components, and its core assets are mainly intangible assets such as trademarks, patents, software copyrights and customer relations, which are not reflected in the book value. The evaluation results of income method and market method include the above intangible assets not reflected in the book value, so the evaluation value is increased. The appraisal result of income method is more reasonable as the appraisal result.
It is disclosed that the counterparty promises that the actual net profit of Yiyi Hytera Communications Corporation Limited(002583) in 2022, 2023 and 2024 will not be less than 20 million yuan, 21.5 million yuan and 22.5 million yuan respectively, and the cumulative profit will not be less than 64 million yuan.
Yachuang electronics said that as an agent distributor and solution provider in the electronic components industry, Yi Hytera Communications Corporation Limited(002583) is committed to providing customers and suppliers with supply chain services and solutions. It mainly acts as an agent for products of Murata, telink, xinnuofei and other brands. The product application fields and service customer groups cover communication, automobile, industrial control, optical communication, medical treatment, household appliances, lighting Power supply, security, new energy and consumer electronics. At the beginning of its establishment, Yi Hytera Communications Corporation Limited(002583) took Murata (Murata), the world’s first brand of passive components, as the agent distribution brand. The founding team members have been engaged in Murata product sales for many years, are familiar with the characteristics of the industry, are familiar with the operation of Murata’s original factory, are well aware of the difficulties and pain points of target customers, and have made corresponding contributions to the promotion and sales of Murata’s original factory in the Chinese market, 70% of its sales revenue comes from Murata’s passive component market.
The company is committed to becoming the most influential partner in the automotive electronics segment. This transaction is the horizontal continuation and expansion of the company’s electronic component distribution business. The customer and supplier resources of Yi Hytera Communications Corporation Limited(002583) are consistent with the company’s agent distribution business development strategy, and the two sides can realize complementary resource advantages, Further expand the market share of passive components in the automotive electronic business field of the company, enhance the industry influence, improve the profitability of the company, lay a solid foundation for the company’s goal of becoming a leading professional supplier of automotive electronic components in China, and is conducive to the long-term sustainable development of the company.
(source: Securities Times · e company)
