On the evening of August 10, Jiemei Technology unveiled a preliminary report detailing its plan to issue shares and pay cash to acquire assets and raise matching funds. The proposal entails acquiring 100% equity of Changsha Aifos Technology Co., Ltd. (hereinafter referred to as 'Aifos Technology') at a staggering transaction price of 915 million yuan.

According to the transaction blueprint, this acquisition will be a blend of share issuance and cash payment. Additionally, the company plans to raise no more than 228 million yuan in matching funds to bolster its working capital. In return, the counterparty will receive shares of Jiemei Technology and a portion of the cash consideration, thus becoming a shareholder of the listed entity. Through this strategic move, Jiemei Technology aims to transition from its core business of electronic packaging materials to a dual-pronged approach of 'materials + equipment'.

Aifos Technology stands out as a domestic frontrunner in the research, development, and manufacturing of deterministic polishing equipment for ultra-high-precision optical components. Its flagship products, ion beam polishers and magnetorheological polishers, find widespread applications in the semiconductor, high-end optics, aerospace, and scientific research sectors.

The technological prowess of Aifos Technology has reached nanoscale and even sub-nanoscale processing precision. Such equipment is pivotal for crafting ultra-precision optical components and holds immense potential in processing high-end optical elements like photolithography machine lenses, positioning it in the upstream segment of the photolithography machine industrial chain.

On the other hand, Jiemei Technology primarily specializes in electronic packaging materials and electronic-grade film materials and is recognized as a national manufacturing single champion demonstration enterprise. Post-acquisition, the listed company is poised to achieve synergistic growth between electronic packaging materials and high-end equipment.

Apart from Yuanzhi Xinghuo, the counterparties in this transaction also encompass Zhou Lin, Changsha Aifos Intelligent Equipment Partnership (Limited Partnership), Ding Jie, Tao Shang, and Chen Yongfu. Notably, Changsha Aifos Intelligent Equipment Partnership serves as an employee stock ownership platform, reflecting the company's medium- and long-term incentive strategies for its core team.

More significantly, the synergistic effects between the two entities at the industrial chain level are beginning to surface. The report reveals that Aifos Technology has already infiltrated the supply chain systems of several premium customers and secured new orders. Although Jiemei Technology's primary focus on electronic packaging materials and Aifos Technology's precision polishing equipment do not entirely overlap in customer bases—the former's clientele is mainly concentrated in the electronic component packaging arena, while the latter's is geared towards research institutes and high-end optical manufacturing enterprises—the two parties exhibit a high degree of alignment in downstream terminal application scenarios across industries such as semiconductors, automotive optics, and consumer electronics. With the acceleration of the domestic substitution process, the two entities are anticipated to jointly penetrate the supply chain systems of more leading manufacturers through a combined 'materials + equipment' approach. However, the substantive realization of this synergistic effect hinges on the effective integration of technology and markets during the subsequent integration process, with its depth and breadth subject to continuous validation.

Taking a holistic view of Jiemei Technology's recent endeavors, this acquisition is not a standalone capital operation but a pivotal component of its strategic transformation. Previously, the company has already embarked on the construction of its North China Production and Research Headquarters in the Tianjin Economic-Technological Development Area, with a total investment of approximately 1.45 billion yuan.

The acquisition of Aifos Technology signifies a further foray into the equipment manufacturing realm. Through this series of strategic maneuvers, the listed company intends to superimpose equipment manufacturing capabilities atop its material strengths, evolving from an upstream material supplier to a comprehensive service provider encompassing materials, equipment, and processes. This transformation responds to the pressing demand from downstream semiconductor, optical communication, automotive optics, and other customers for integrated 'materials + equipment' solutions.

From a long-term perspective, if this transaction can be successfully integrated, Jiemei Technology will transcend its role as a mere packaging material provider. It will also be capable of offering full-chain services, ranging from precision materials to ultra-precision processing equipment, for optical and semiconductor customers. This will substantially enhance customer loyalty and bargaining power. Meanwhile, leveraging the listed company's capital and channel advantages, Aifos Technology is also poised to expedite product iteration and market expansion, further solidifying its leading position in the domestic ion beam and magnetorheological polishing equipment sectors.

Of course, all these aspirations hinge on the transaction successfully navigating through the deliberation of the company's general meeting of shareholders, the scrutiny of the Shenzhen Stock Exchange, and the registration of the China Securities Regulatory Commission. Additionally, the effective integration of technology and culture during the subsequent integration process is crucial.

Embarking on a cross-border leap from an electronic packaging material supplier to the ultra-precision equipment sector, Jiemei Technology has taken a significant stride forward. However, the journey ahead necessitates a measured approach, underscored by performance and patience. OFweek Optics will diligently track the developments.