just! Two major mergers and acquisitions in the lighting field announced

1 Haojiang Intelligent plans to acquire 53% equity of Utepower for 59.36 million yuan
On April 3, Qingdao Haojiang Intelligent Technology Co., Ltd. (hereinafter referred to as "Haojiang Intelligent") announced that the company planned to invest 59.36 million yuan Acquired 53% equity of Hangzhou Ute Power Co., Ltd. (hereinafter referred to as "Ute Power"). After the completion of this transaction, Upower will become a holding subsidiary of the company and be included in the scope of consolidated statements. The transaction funds will come from the company's own or self-raised funds. It is reported that Haojiang Intelligence is a leading domestic R&D and production enterprise of intelligent linear drive products. As a listed company, Haojiang Intelligent has accumulated profound technical foundation in the fields of smart home, smart medical care, smart office and other fields by virtue of its strong self-research and production capabilities. Haojiang Intelligent's products are exported to many regions around the world, including North America, Europe and Southeast Asia. Utepower is 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 outdoor lighting and sports lighting. For high-end scenarios such as lighting and plant lighting, we independently develop a full range of high-efficiency lighting drive power supplies. The products cover the full power range from 40W to 2000W. They have core advantages such as high protection capabilities, ultra-high conversion efficiency (≥97%), intelligent dimming, and stable operation in a wide temperature range. They are mainly used in developed countries and regions in Europe, the United States, and Australia. At the same time, Ute Power also announced that it has officially joined Haojiang Intelligent. Ute Power said that Haojiang Intelligent is not only a strong partner, but also a solid backing for its two-wheel drive strategy of "intelligent power supply + electronic products" and its move into the field of higher-performance lighting drives. Ute Power will fully integrate into the management system and financial support of listed companies to further strengthen the depth of core technology research and development. The two parties will achieve all-round collaboration in management, supply chain and market channels to maximize resource allocation efficiency. YaHei"; font-size: medium; text-indent: 0px; line-height: 1.75em;'>
text-indent: 0px; line-height: 1.75em;'> Haojiang Intelligence stated that this acquisition is based on the company's development strategy and business needs, aiming to leverage the technological and resource advantages of both parties and achieve coordinated development of the industrial chain. The company's existing business covers precision structural parts and electronic components in the fields of smart home appliances, smart homes, automotive electronics and other fields. After the acquisition of Upower, it will form a technological complement to the company's existing electronic products, enhance the company's core competitiveness in the field of electronic products, especially in the field of high-end drive power supply, and promote the two-wheel drive development pattern of "drive products and high-end electronic products". Specifically, this strategic integration will achieve resource sharing and complementary capabilities, and will have a profound impact from the following three dimensions: Complementary technologies to accelerate innovation: Haojiang Intelligent's rich experience in intelligent control systems will produce a strong "chemical reaction" with Upower's core accumulation in high-power power circuit design, and jointly launch more competitive intelligent lighting overall solutions. text-indent: 0px; line-height: 1.75em;'>Supply chain and manufacturing Manufacturing upgrade: With the help of Haojiang Intelligent’s large-scale production advantages and global supply chain system (including overseas factory layout), Upower’s production delivery capabilities and resilience in coping with the international trade environment will be qualitatively improved. Market collaboration to serve the world: The global sales networks of both parties will achieve in-depth docking, allowing Upower's products to be delivered to global partners more quickly and efficiently. Financial data shows that in 2025, Ute Power achieved operating income of 77.9901 million yuan and net profit of 9.7501 million yuan. As of the end of 2025, its total assets were 92.7128 million yuan. In 2025, Haojiang Intelligent expects a net profit attributable to shareholders of listed companies of 8.50 million to 12.00 million yuan. 2 Minbao Optoelectronics plans to acquire 51% equity of Xiazhi Precision for 245 million yuan On the evening of April 7, Minbang Optoelectronics (301362) announced that the company planned to acquire 51% of the equity of Xiamen Xiazhi Precision Technology Co., Ltd. (hereinafter referred to as "Xiazhi Precision") held by Xiamen Maida Intelligent Technology Co., Ltd. (hereinafter referred to as "Xiamen Maida") for 244.8 million yuan in cash. After the completion of this transaction, the target company will become the company's holding subsidiary and be included in the company's consolidated statements. According to the announcement, the target company Xiazhi Precision focuses on the research and development, production and sales of micro drill bits, deeply explores the field of core consumables for PCB manufacturing, and provides professional micro-hole processing technology solutions to global PCB leading customers. PCB drill pins are a special core consumable for PCB manufacturing. Its core function is to penetrate the points between circuit board layers through precise drilling to build point-to-point pathways and achieve stable connectivity and series connection of electronic parts. It is the basic device for PCB to realize signal transmission and functional integration.

In 2025, Xiazhi Precision achieved operating income of 134 million yuan and a net profit of 10.6869 million yuan. As of the end of January 2026, Xiazhi Precision had total assets of 203 million yuan, total liabilities of 122 million yuan, and an asset-liability ratio of 60%. In terms of performance commitments, the transferor Xiamen Maida promised that the total promised net profit of the target company from 2026 to 2028 will be no less than 111 million yuan, of which the committed net profit amounts in 2026, 2027 and 2028 will be no less than 24 million yuan, 37 million yuan and 50 million yuan respectively. Data show that the main business of Civil Explosion Optoelectronics is the research and development of LED green lighting products. Production and sales, the existing business can be divided into three major business segments: commercial lighting, industrial lighting and special lighting (such as plant lighting, beauty lighting, explosion-proof lighting, emergency lighting, etc.). The company will achieve operating income of 1.641 billion yuan and net profit attributable to the parent company of 230 million yuan in 2024.
With the rising demand in the PCB industry, the demand in the PCB drill needle industry is also rising. Minbang Optoelectronics expects that after the completion of this transaction, the company's business will expand to the field of special PCB drill bits in the high-end field, actively conduct technical research and forward-looking layout of the PCB drill bit industry, and continue to develop and apply new technologies and new products, which will help accelerate the strategic transformation of listed companies, share the AI industry and The growth dividends brought by the development of PCB drill needle industry.