The stock price dropped more than 16% in a single day. Ying Tang Zhikong responds: The related acquisition matters are progressing normally.

On the evening of March 25, Ying Tang Zhikong (300131) issued a notice, stating that the company has noticed a large amount of false information about the company being posted on online platforms such as Eastmoney.com stock bar and stock forums, which has attracted significant market attention. At the same time, it clearly stated that the related acquisition matters are progressing normally and there are no major issues that should be disclosed but have not been disclosed.

On the same day, Ying Tang Zhikong’s stock price experienced a significant fluctuation, with a decline of 16.72% within a single trading day. The turnover rate showed a noticeable increase compared to previous trading days, with a transaction volume of 3.19 billion yuan. Funds showed a net outflow, ranking among the largest declines on the ChiNext market of A-shares that day, attracting widespread market and investor attention.

Ying Tang Zhikong clarified that as of the disclosure date, the company is advancing the acquisition in accordance with relevant laws, regulations, and the trading plan. After the relevant work is completed, the company’s board of directors will issue a separate notice for a shareholders’ meeting at an appropriate time.

The company also emphasized that neither the company, the controlling shareholder, nor the actual controller has any major issues related to the company that should be disclosed but have not been disclosed, nor are there any major issues under planning. Currently, the company’s production and operation are normal, the actual controller is performing their duties normally, and there is no information from previous disclosures that needs correction or supplementation.

Public information shows that Ying Tang Zhikong’s main business is electronic component distribution, semiconductor chip design, and supporting manufacturing services, with a long-term focus on the upstream and downstream layout of the semiconductor industry chain.

Previously, Ying Tang Zhikong disclosed a major acquisition plan, intending to acquire 100% equity of Guilin Guanglong Integrated Technology Co., Ltd. and Shanghai AoJian Microelectronics Technology Co., Ltd. through a combination of cash payments and share issuance, and to raise supporting funds.

Data shows that Guanglong Integrated mainly engages in the research, development, production, sales, and service of passive optical devices such as optical switches and related modules and equipment. Its core products, optical switches and integrated modules, cover technologies such as relays, MEMS, motors, magneto-optic, and polarization-maintaining components. AoJian Microelectronics mainly focuses on the research, design, and sales of high-performance analog chips, with current products primarily in power management analog chips.

At that time, the company stated that this acquisition aims to further improve its industrial layout in the semiconductor field, deepen core technology reserves and customer resource synergy, and enhance the company’s sustainable profitability and core competitiveness. After the plan was disclosed, the company issued a transaction progress announcement, continuously updating the market on the advancement of related work.

From an industry perspective, in recent years, with the ongoing promotion of domestic substitution of semiconductors, the domestic electronic component distribution and semiconductor supporting industries have ushered in development opportunities. However, industry competition has also intensified, and demand fluctuations in downstream consumer electronics, industrial control, and other fields have brought certain uncertainties to the operation and industry integration of enterprises within the sector.

Previously, Ying Tang Zhikong released a performance forecast indicating that net profit in 2025 is expected to be between 23 million and 28 million yuan, a year-on-year decrease of 53.55% to 61.84%; while net profit excluding non-recurring gains and losses is expected to be a loss of 17 million to 13 million yuan, a decrease of 130.56% to 139.96% year-on-year. The company pointed out that although the storage business has seen an approximate 4.5% increase in overall revenue compared to the same period last year due to rising demand for 5G, AI, and cloud computing, the gross profit margin of electronic component distribution products has decreased by about 0.7 percentage points due to industry competition. Meanwhile, the company’s R&D investment in chip design and manufacturing has increased, with overall R&D expenses rising about 65% compared to the previous year. These factors contributed to the significant changes in performance.

Recently, during a survey, Ying Tang Zhikong stated that the company will continue to focus on the development of its main business, persistently promote R&D of core businesses such as chip design, and lay a solid foundation for long-term development. With the gradual implementation of new businesses like the MEMS LBS project and the release of performance, combined with the full integration of future annual performance of the acquisition targets, the company’s long-term growth potential is worth期待.