Dawson shares (603800) announced on the evening of June 13 that the company intends to acquire 51% equity of new energy copper foil equipment manufacturer Hongtian Technology Co., Ltd. (hereinafter referred to as “Hongtian Technology”) in cash, which will realize the transformation of traditional oil energy equipment Manufacturers are strategically transitioning to new energy smart equipment manufacturers, switching to a new track for new energy equipment manufacturing.
The target company’s net profit last year was 77.94 million yuan
In the past two years, under the combined influence of Sino-US trade disputes and the new crown epidemic, Dawson’s main business has shrunk sharply in core international market orders, gross profit margins have fallen sharply, and the company’s 2021 net profit has already suffered losses. It is against this background that Dawson shares embarked on a journey of transformation.
Hongtian Technology, the target of Dawson’s acquisition this time, is a well-known domestic manufacturer of new energy intelligent equipment and a well-known domestic enterprise in the field of lithium battery copper foil equipment. The company has successively established R&D centers in China and Japan to achieve high precision electrolytic copper foil. The localization of equipment has broken the monopoly of imported equipment on the domestic high-end electrolytic copper foil market.
Hongtian Technology has successfully developed a super-sized electrolytic copper foil cathode roll with a diameter of 3 meters and a width of 1.82 meters, a raw foil machine and ancillary equipment, which can stably produce high-end and ultra-thin lithium battery copper foil 3.5um products and 5G high-frequency high-speed 9um ultra-thin standard copper foil for electronic information products. The innovative breakthrough of this technology has filled the gap in the industry at home and abroad, and also set a new record in the global electrolytic copper foil equipment industry.
The announcement shows that the current annual production capacity of Hongtian Technology’s core products, such as electrolytic copper foil cathode rolls, raw foil machines, anode plates, high-efficiency copper melting tanks, and surface treatment machines, exceeds 1,000 sets. In order to further enhance its core competitiveness and market share The target company has newly expanded a 110,000-square-meter high-end complete set of equipment industrial park in Yancheng, Jiangsu. The main customers of Hongtian Technology include many leading companies in lithium battery materials: Korea Rijin, Taiwan Nanya, Changchun Group, Nord, Jiayuan Technology, Zhongyi Technology, Xinjiang Yiri, Guangdong Yinghua, Jiangxi Tongbo, Chaohua Science and Technology, Jinchuan Group, Yuguang Gold and Lead, Jiangtong Copper Yates and other well-known enterprises at home and abroad.
In 2020, the company realized an operating income of 194 million yuan and a net profit of 41.7448 million yuan; in 2021, the company realized an operating income of 384 million yuan and a net profit of 77.9387 million yuan; in the first quarter of 2022, the company realized an operating income of 45.9308 million yuan and a net profit of 45.9308 million yuan. 5.9868 million yuan.
Commitment to net profit of not less than 360 million yuan in the next 3 years
In 2021, the processing capacity of copper foil enterprises will be in short supply, and major copper foil manufacturers have increased their production capacity. Copper foil production equipment has become the decisive factor affecting the release of copper foil production capacity. At present, foreign equipment manufacturers have scheduled production until 2026, and domestic manufacturers have also By 2024, “there is a venue but no equipment” has become the “urgent need” for the copper foil industry at home and abroad.
Dawson shares stated that the company intends to realize the strategic layout of transforming from a traditional oil energy equipment manufacturer to a new energy intelligent equipment manufacturer through this acquisition, and to enter the new energy equipment manufacturing industry with good industry development prospects through the holding of the target company.
On the one hand, the company will further expand the market share of the target company in the field of copper foil production equipment through equity cooperation, accelerate localization to replace imports, realize the continuous and rapid development of the target company, and continuously strengthen the leading position in the domestic electrolytic copper foil equipment industry; on the other hand, The company will actively maintain and develop the international market, and is committed to providing one-stop overall solutions for planning, design, manufacturing and continuous upgrading of software systems and hardware systems for global customers.
Shenzhen Shoutai Information Industry Center promises that the audited net profit that the target company must achieve in 2022, 2023 and 2024 is not less than 85 million yuan, 115 million yuan, and 160 million yuan respectively, with a total of three years. Not less than 360 million yuan. After the acquisition is completed, Hongtian Technology will be included in the scope of the company’s consolidated statements, which will have a positive impact on the company.
