Recent reports indicate that A-share consumer electronics concept stock Shenzhen Hui Chuang Da Technology Co.,Ltd. (300909) has announced its intention to acquire 100% equity in Dongguan Chuncao Polishing Technology Co., Ltd. through a combination of direct and indirect purchases using cash.
Upon completion of the transaction, Chuncao Technology will become a wholly-owned subsidiary of the company and will be consolidated into its financial statements.
The acquiring company's core business focuses on the research, development, design, production, and sales of light guide structural components and assemblies, as well as precision key switch structural components and assemblies. Its products are applied in consumer electronics, automotive electronics, new energy, and other fields.
Chuncao Technology is a professional system service provider specializing in intelligent surface treatment equipment for grinding and polishing, automated production lines, and polishing consumables. It is a high-tech enterprise integrating research, development, production, sales, installation, and service. The company is centered on the automation of grinding equipment and can customize safe, efficient, and flexible automated grinding and polishing solutions as well as Industry 4.0 solutions according to customer requirements.
Currently, Chuncao Technology has become a qualified supplier for many leading enterprises in fields such as 3C and automotive parts. Its well-known cooperative clients include Foxconn, Lens Technology, Luxshare Precision, Bourne Optics, BYD, Jingyan Technology, and Gengde Electronics.
In the secondary market, the company's stock price has recently experienced continuous volatile upward movement. As of the close on September 30, the stock fell 8.22% on the day to close at 60.97 yuan per share, with a total market value of 10.5 billion yuan.
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