Shanghai-listed and Hong Kong-listed Longcheer (Shanghai Longcheer Technology Co., Ltd.) has agreed to purchase 80 % of Suzhou Anruike Information Technology Co., Ltd. for RMB 1.12 billion, according to a 13 August 2026 announcement. The transaction, executed through four equity-transfer agreements with six selling parties, elevates Suzhou Anruike to a non-wholly owned subsidiary and brings its financials under Longcheer’s consolidation.
Deal structure and vendors • Equity stakes: Longcheer will acquire a total 80 % holding from founder Ren Liguo (41.10 %), individual shareholders (29.49 %), employee incentive platform Suzhou Ruiyongying (5.88 %) and Suanwang Investment (3.53 %). • Consideration: RMB 1.12 billion, settled in instalments. Deferred payments to key sellers are subject to performance and cash-collection thresholds. • Performance guarantees: Founder Ren Liguo, general manager Ding Zhiyong and other guarantors must compensate Longcheer in cash if Suzhou Anruike fails to meet agreed profit targets during 2026-2028; conversely, out-performance triggers incentive payments to Ding.
Valuation and pricing Independent valuer Zhonglian Asset Appraisal & Consulting set Suzhou Anruike’s 100 % equity value at RMB 1.51 billion (EV/S multiple of 3.21×, benchmarked against Kehua Data, Zhongheng Electric and Kstar). Longcheer’s purchase price for 80 % therefore represents a 7 % discount to the appraised pro-rata value of about RMB 1.21 billion.
Target profile and recent performance Established in 2011, Suzhou Anruike designs and manufactures data-centre infrastructure and key equipment such as server cabinets, PDUs, busbars and low-voltage distribution units. Under PRC GAAP, the company recorded: • 2025 revenue: RMB 621.87 million (up 116 % YoY) • 2025 net profit: RMB 94.60 million • 2025 total assets: RMB 361.91 million; net assets: RMB 286.47 million
Strategic rationale Longcheer, traditionally an ODM for smartphones, tablets, AIoT and automotive electronics, views the deal as an entry into the fast-growing data-centre hardware segment. Management expects Suzhou Anruike’s design expertise, customer relationships and channel resources to broaden Longcheer’s product mix and enhance service capabilities without materially impacting cash flow, as the purchase will be funded from internal resources.
Governance and integration Post-closing, Suzhou Anruike’s three-seat board will comprise two Longcheer appointees and one seat for Ding Zhiyong, who will remain general manager. Longcheer will appoint the finance and HR heads, while existing management commits to non-compete and retention undertakings.
Regulatory status The acquisition is classified as a discloseable transaction under Chapter 14 of the Hong Kong Listing Rules (highest percentage ratio >5 % but <25 %), requiring public disclosure but not shareholder approval. All vendors and guarantors are independent third parties to Longcheer, so the deal does not constitute a connected transaction.
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