Haojiang Intelligent plans to acquire Ute Power and lay out high-end LED drive power supply

On April 3, Qingdao Haojiang Intelligent Technology Co., Ltd. (hereinafter referred to as "Haojiang Intelligent") issued an announcement announcing that it planned to acquire 53.00% equity in Hangzhou Ute Power Co., Ltd. (hereinafter referred to as "Ute Power") for a tentative consideration of 59.36 million yuan in cash, with the funds coming from its own or self-raised funds. After the acquisition is completed, Upower will become a subsidiary of Haojiang Intelligent Holdings and be included in the scope of consolidated statements.

The announcement shows that Upower has been committed to developing and producing high-quality intelligent LED terminal solutions and high-power LED power supplies. Its main products include various lighting drive power supplies and lighting scene solutions. It has been deeply involved in the field of high-power intelligent LED drive power supplies for nearly ten years, focusing on high-end scenarios such as outdoor lighting, sports lighting, and plant lighting. It independently develops a full range of high-efficiency lighting drive power supplies. The products cover the full power range from 40W to 2000W and are mainly used in developed countries and regions in Europe, the United States, and Australia.

In terms of market expansion, Upower has long focused on developed countries and regions in Europe, the United States and Australia. With its ability to continue to meet the customized needs of high-end customers, its products and services have been highly recognized by leading companies in the downstream market.

Financial data shows that Ute Power achieved operating income of 77.9901 million yuan and net profit of 9.7501 million yuan in 2025; as of the end of 2025, the company's total assets reached 92.7128 million yuan.

Haojiang Intelligent is an enterprise that develops and produces intelligent linear drive products. At this stage, it has completed the technology accumulation in the main application scenarios of intelligent linear drives such as smart home, smart medical care, smart office, and industrial transmission, forming a business layout with smart home as the core and gradually extending to other application scenarios.

Haojiang Intelligent stated that Upower has been deeply involved in the field of high-end drive power supplies for many years, focusing on high-end scenarios such as outdoor lighting, sports lighting, and plant lighting. It independently develops a full range of high-efficiency lighting drive power supplies and has built a full chain of technical barriers from core circuit design, electromagnetic compatibility optimization to intelligent manufacturing.

Regarding this acquisition, Haojiang Intelligent stated that Upower’s technology accumulation and talent reserve in the field of high-end drive power supply will effectively complement the company’s existing business. Through this transaction, Haojiang Intelligent will systematically expand the layout of electronic products to the high-end drive power product line, accelerate the update and iteration of drive power products and solution upgrades, thereby enhancing the core competitiveness in the field of electronic products, especially the high-end drive power market.