A-shares have seen another major asset restructuring.

On the evening of May 13, Variety Show Co., Ltd. (600770) announced that on the same day, the company signed an "Investment Cooperation Intent Agreement" with Jilaiwei and its shareholders Jiangsu Weifeng Trading Co., Ltd. and Li Dawei, intending to obtain control of Jilaiwei by increasing capital or acquiring Jilaiwei in cash. The specific investment plan and investment ratio are to be further demonstrated and negotiated. After the completion of this transaction, Gillaiwei will become the company's holding subsidiary.

Currently, Jiangsu Weifeng Trading Co., Ltd. holds 47.2738% of Jilaiwei's shares, and Li Dawei holds 15.2082% of Jilaiwei's shares.

According to data, Jilaiwei specializes in the design, manufacturing, packaging and testing of power semiconductor chips. Its products include thyristor series, semiconductor protection device series (TSS, TVS, ESD, SIDAC, integrated protection devices, etc.), rectifier series, MOS tube series, PIM module series, etc., and are widely used in civil fields such as white household appliances, leakage protection, smart homes, industrial fields such as smart grids, motor drives and controls, wind power generation, solar power generation, green and environmentally friendly clean energy fields, and 5G communication networks, IT, automotive electronics, and safety protection. It is a national-level specialized and special small giant enterprise, a national high-tech enterprise, and a member unit of the China Semiconductor Industry Association.

Variety Show Co., Ltd. said that the company has been deeply engaged in the information technology field including integrated circuit business for many years. The acquisition of Jilaiwei will help the company's strategic focus and strengthen the core industrial sectors in the information technology field, while expanding the company's operating income scale and profit level, improving overall operating efficiency, and enhancing the company's risk resistance.

According to preliminary estimates, this transaction is expected to constitute a major asset restructuring. Variety Show Co., Ltd. said that the transaction is still in the preliminary planning stage and an intent agreement has been signed. After the final transaction price is completed, the final transaction price will be further negotiated and determined by the parties to the transaction, and the necessary internal and external decision-making and approval procedures will be carried out separately.

Talking about the impact of this transaction, Variety Show Co., Ltd. stated that in recent years, the company has always regarded the information technology field as a key development direction, focusing on improving quality and efficiency of the main business through investment, mergers and acquisitions and management, and laying out industrial transformation and upgrading around high-quality development. This transaction is an important measure for the company to further deepen the industrial layout in the information technology field. After Jilaiwei becomes the company's holding subsidiary, the company will enter the research and development, production and sales of power semiconductor chips and devices based on its original chip design and application business, and the layout of the industrial chain will be further optimized and extended.

In addition, this transaction does not involve the issuance of shares to purchase assets, and it does not affect the equity structure of Variety Show shares; after the transaction is completed, it is expected that the company's operating income and net profit level will be further improved, and the company's risk resistance will be effectively enhanced.

Data shows that in 2024, Variety Show Co., Ltd. achieved operating income of 348 million yuan and net profit of 30.216 million yuan. The company's chip design and application business are mainly divided into integrated circuits and smart cards. Subsidiaries Nanjing Tianyue and shareholders Shenzhou Loongson are both integrated circuit design companies.

Among them, Nanjing Tianyue belongs to the field of hearing aid chip design. Variety Show Co., Ltd. believes that with the rise of domestic digital chips, the huge analog machine market has a clear trend of upgrading digital machines. In the long run, the market demand for cost-effective digital hearing aid chips will also increase significantly. China Loongson mainly focuses on the independently developed completely independent and controllable chips, and expands in depth to key areas such as power, energy, and communications. It is committed to building a professional industry solution and service system, and contributes to the industrialization process of domestic chip technology.

When talking about the business plan, Variety Show Co., Ltd. stated that the company will give full play to the advantages of its information technology companies in technology, resources and talents, continue to deepen its field of information technology, promote the steady operation and coordinated development of subordinate related enterprises, and pay close attention to the development of cutting-edge technologies, seek new development opportunities and space, and further enhance overall competitiveness.

Among them, the subsidiary Tianyi Integration will rely on long-term technology and resource accumulation to maintain the stable development of the original security chip business while keeping pace with the industrial development trend and market development direction, and combining future development plans to explore more development opportunities.

Variety Show Co., Ltd. also mentioned that Tianyi Integrated subsidiary Nanjing Tianyue will continue to leverage its brand, technology and service advantages, guided by innovation, and be committed to building a leading enterprise in the field of domestic digital hearing aid chips. The company will also closely monitor Bluetooth Low Energy and DSP to realize hearing aid, noise reduction, human signal detection and monitoring functions to seize emerging market opportunities and open up new development space.

The shareholders of Shenzhou Loongson will continue to carry out business activities with integrated circuits (independent intellectual property processors) research and development and marketing as the main line, with data security products as the auxiliary line, and other expansion of industry applications as useful supplements to their main business.

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[Editor in charge: Ma Yidong PF171]