Senior Material (06067) has announced that on August 13, 2026, it entered into an equity transfer agreement with various sellers to acquire a combined 59.9806% equity interest in the target company, Bangci Electronic Technology (Yancheng) Co., Ltd., for a total consideration of RMB 242 million.
Prior to this announcement, the company held approximately 13.50% of the target company's equity. Upon completion of the proposed equity transfer, Senior Material will hold roughly 73.4806% of the target company's equity, making it a non-wholly owned subsidiary. The financial performance of the target group will be consolidated into the group's financial statements.
The board believes that this acquisition of the target company's equity represents a strategic move in the new materials sector, broadening the company's product boundaries. The rationales and benefits are as follows:
First, from an industry perspective, as China's high-end manufacturing precision continues to upgrade, the demand for high-performance piezoelectric ceramic drive components—essential for precision equipment such as MFC (Mass Flow Controllers)—is rising alongside the need for self-sufficiency. Currently, the localization rate of this segment is low, and the supply chain faces risks from external constraints. The target company's main products include multi-layer piezoelectric ceramic stacks and single-layer piezoelectric ceramic sheets. Multi-layer piezoelectric ceramic stacks, by generating precise (nanometer-level) displacement under an electric field, can create piezoelectric microfluidic control and piezoelectric micro-displacement platforms. Piezoelectric microfluidic control is primarily applied in scenarios such as MFC mass flow controllers, lithium battery coating dies, piezoelectric dispensers/valves, and medical micro-injection. Piezoelectric micro-displacement platforms are mainly used in high-end semiconductor precision equipment micro-displacement control, fast steering mirrors in ATP tracking and pointing core components for satellite laser communication, and deformable mirrors for ground-to-space laser communication. Single-layer piezoelectric ceramic sheets are widely used in ultrasonic transducers for functions like ultrasonic welding and cleaning. By acquiring the target company, Senior Material enters the piezoelectric ceramic industry, leveraging its technological expertise to tap into the incremental market for semiconductor equipment and components, expanding its medium- to long-term growth boundaries, creating a second growth curve, and forming industrial synergy between new materials and its core lithium battery business.
Second, on the commercial front, due diligence and business review indicate that the target company's operating performance in 2026 is showing rapid growth, with a strong backlog of orders, offering high certainty and sustainability in business development. The willingness of existing shareholders to sell their equity in this proposed transfer is clear, the transaction pricing is reasonable, and the company can acquire high-quality industrial assets at a reasonable cost, further enhancing overall operational quality and investment returns, creating long-term value for all investors.
Third, from an industrial perspective, the company and the target company share a highly overlapping core customer base in the lithium battery supply chain, providing a strong foundation for industrial synergy. Upon completion of the proposed equity transfer, they can leverage respective resource advantages for channel complementarity and cross-selling, deepen service capabilities for core clients, and promote technological integration and product iteration, jointly advancing industry progress. After the proposed equity transfer, the target company will become a controlled subsidiary of the company, included in its consolidated reporting scope. Through subsequent resource integration and empowerment, the company will continuously enhance overall operational efficiency and core competitiveness. The company's risk resilience will be effectively strengthened, aligning with the interests of all shareholders and the company.
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