TOPNC (07688) Surges Over 7% on Plan to Acquire at Least 70% Stake in Machine Tool Manufacturer, Expanding High-End CNC Machine Tool Presence

Stock News10-21

TOPNC (07688) jumped over 7%, reaching 7.09% as of press time at HK$19.79, with a turnover of HK$4.7975 million.

On the news front, TOPNC announced that on October 20, the company entered into a non-legally binding letter of intent with a potential seller and a target company to acquire no less than 70% equity interest in the target company.

The target company is engaged in the research and development, manufacturing, and sales of multi-axis multi-channel CNC machine tools and direct-drive high-speed five-axis machine tools, with products widely used in 3C precision structural components, AI liquid cooling plates, optical module structural components, humanoid robot precision joints, and new energy vehicle parts.

The announcement stated that the group previously focused on large five-axis machine tools for the aerospace sector. This acquisition is part of its strategy to enrich its CNC machine tool product matrix and expand into high-growth downstream sectors.

The group and the target company will unlock synergies in research and development, supply chain management, manufacturing, as well as sales and after-sales services, strengthening the group's overall competitiveness in the domestic high-end CNC machine tool industry and accelerating the localization process of core industrial mother machine equipment.

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