The value-added rate is 191%. GQY Video acquires 70% shares of Taiheng Optoelectronics for RMB 17.5 million.

On the evening of October 20, GQY Video (300076) announced that the company acquired 70% of the shares of Shenzhen Taiheng Optoelectronics Co., Ltd. (hereinafter referred to as Taiheng Optoelectronics) with 17.5 million yuan of its own funds. This acquisition is mainly to further broaden the company's strategic layout in the field of large-screen displays, improve the main industry chain, enhance the company's hard power in the LED display manufacturing process, reduce production and operation costs, and improve the company's operating efficiency.

In terms of transaction details, the announcement states that on September 17, 2025, the company signed the "Equity Transfer Agreement on Shenzhen Taiheng Optoelectronics Co., Ltd." with Taiheng Optoelectronics shareholders Cha Changchun, Cha Xiaogang, and Gu Yongqiang. The company acquired 70% of Taiheng Optoelectronics' shares from Taiheng Optoelectronics shareholders Cha Changchun, Cha Xiaogang and Gu Yongqiang. Among them, Zha Changchun held 33.60% of Taiheng Optoelectronics' shares, Cha Xiaogang held 33.60% of Taiheng Optoelectronics' shares, and Gu Yongqiang held 2.80% of Taiheng Optoelectronics' shares, corresponding to 3.5 million shares of the target company's equity, and the transaction consideration was 17.5 million yuan. The company paid the equity transaction fee in cash. After the completion of this transaction, the company holds 70% of Taiheng Optoelectronics' shares. On October 10, 2025, the company has completed the relevant industrial and commercial change registration procedures. Because the staff failed to accurately understand the disclosure requirements, they failed to perform review and disclosure procedures before handling the foreign investment and equity purchase matters.

The announcement shows that Taiheng OptoelectronicsFounded in 2014 with a registered capital of 5 million yuan, the company is a high-tech enterprise specializing in the R&D, design, production, sales and service of LED display products. It is committed to providing customers with efficient and reliable LED screen display products and solutions. The company's LED display product lines are rich, ranging from outdoor to indoor, from rental mode to fixed installation. They are widely used in advertising, stage performances, conference collaboration and other scenarios, covering many fields such as medical, culture, education and so on.

In terms of finance, data (see the table below) shows that Taiheng Optoelectronics' audited revenue in 2024 was 67.93 million yuan and net profit was 3.23 million yuan; in the first half of 2025, revenue was 34.12 million yuan and net profit was 4.15 million yuan, which has exceeded last year's full-year level. As of the end of June this year, the company's total assets were 72.54 million yuan, net assets were 9.58 million yuan, total liabilities were 62.96 million yuan, and the asset-liability ratio reached 86.8%, which shows that its cash flow is relatively tight.

In terms of valuation, the evaluation agency has evaluated all assets and liabilities of Taiheng Optoelectronics. As of the evaluation base date of June 30, 2025, under the conditions of continuing operations, Taiheng Optoelectronics has declared a book value of total assets of 72.5396 million yuan, a book value of total liabilities of 62.9616 million yuan, and a book value of net assets of 9.5781 million yuan. After evaluation using the income method, the total equity value of Taiheng Optoelectronics shareholders was 27.87 million yuan, with an estimated value added of 18.2919 million yuan, and a value-added rate of 190.98%.

This transaction has a performance commitment clause. The original shareholders Cha Changchun, Cha Xiaogang and Gu Yongqiang promised that in 2025 as the transition period, Taiheng Optoelectronics’ annual revenue will not be less than 65 million yuan; from 2026 to 2028 Entering the gambling period, the revenue shall be no less than 65 million yuan, 70 million yuan, and 75 million yuan respectively, and the annual net profit shall be no less than 2 million yuan, 3 million yuan, and 4 million yuan, and the cumulative net profit in three years shall be no less than 9 million yuan. If the total net profit for three years does not reach 9 million yuan or does not meet the target in any year, the transferor must make up the difference to the target company in cash. On the contrary, if the total net profit in three years exceeds 9 million yuan, GQY will use 50% of the excess as a reward and return it to the transferor.

The announcement stated that this transaction uses the company’s own funds and will not have an adverse impact on the company’s existing financial status and normal operations. In the long term, the investment will produce positive strategic synergies and is in line with the company's overall development plan and the interests of all shareholders. riskIn terms of aspects, the operation process of the target company may be affected by macroeconomic, industry environment, market changes and other factors, and there is still uncertainty in the specific future operating performance and investment income. After the completion of this transaction, Taiheng Optoelectronics will be included in the company's consolidated financial statements, and its operations will have a certain impact on the company's future financial status.

Public information shows that GQY Video’s main business is the research and development, production and sales of intelligent splicing display products. The company’s main product is intelligent splicing display products.

In terms of the latest performance, on August 27, GQY Video announced the 2025 semi-annual report. The company's operating income was 40.75 million yuan, a year-on-year decrease of 47.39%; the net profit attributable to the parent company increased from a loss of 14.86 million yuan in the same period last year to a loss of 22.73 million yuan, and the loss further expanded; the net profit after deducting non-attributable parent profits increased from a loss of 20.02 million yuan in the same period last year to a loss of 25.9 million yuan, and the loss further expanded.

Source: Read Chuang Finance