SENIOR MATERIAL (06067.HK): Proposed Acquisition of 59.98% of Piezoelectric Ceramics Target for RMB 241.8 Million, Stake to Rise to 73.48%

NewTimeSpace News: On 13 August 2026, Shenzhen Senior Technology Material Co., Ltd. (stock code: 06067) announced that the Company entered into equity transfer agreements with the transferors, pursuant to which the Company conditionally agreed to acquire an aggregate of 59.9806% equity interest in the target company held by the transferors, at a total consideration of RMB 241,828,875.16. As of the date of the announcement, the Company holds approximately 13.50% of the target company and, upon completion of the proposed equity transfer, will hold approximately 73.4806%, with the target company becoming a non-wholly-owned subsidiary of the Company and its financial results consolidated into the Group's consolidated financial statements.

According to the announcement, the target company is Bangci Electronic Technology (Yancheng) Co., Ltd., whose principal products include single-layer piezoelectric ceramic plates and multilayer piezoelectric ceramic stacks. The multilayer stacks generate precise (nanometre-level) displacement under an electric field, enabling piezoelectric microfluidic control and piezoelectric micro-displacement platforms, with application scenarios covering MFC mass flow controllers, lithium battery coating die heads, piezoelectric dispensing machines, medical micro-injection, micro-displacement control of high-end semiconductor precision equipment, fast steering mirrors and deformable mirrors for satellite laser communication; single-layer piezoelectric ceramic plates are widely used in ultrasonic transducers for ultrasonic welding and ultrasonic cleaning. The transferors comprise seven parties including Fuhai New Materials Phase II, Weilaicheng Junluo, Shanhu Xingci, Gongqingcheng AVIC Kaisheng No. 2, Fuhai New Materials Phase III, Wotao Electronics and Dongfang Jintai, all of whom are independent third parties.

In respect of the basis of consideration, the total consideration was determined with reference to, among other things, the valuation of the target company's total shareholders' equity of RMB 629 million as assessed by independent valuer Shanghai Dongzhou Asset Appraisal Co., Ltd. as of 31 March 2026 (the valuation date), the target company's historical operating results, future business growth prospects and industry valuation levels, its technology and business capabilities and customer resources, and the synergies between the target company and the Group. For the years ended 31 December 2024 and 2025, the target company recorded net profit after tax of RMB 7,144 thousand and RMB 26,221 thousand respectively, with net assets of approximately RMB 119,560 thousand and RMB 146,811 thousand respectively.

The Directors consider that this acquisition is a strategic move by the Company in the new materials sector to broaden its product boundaries: by entering the piezoelectric ceramics industry through the acquisition, the Company can leverage the target's technical accumulation to tap into the incremental market of semiconductor equipment and components, broaden its medium-to-long-term growth boundaries, build a second growth curve and simultaneously create industrial synergy between new materials and its core lithium battery business; moreover, the core customer bases of the Company and the target company in the lithium battery supply chain overlap significantly, providing a solid foundation for industrial synergy. As one or more of the applicable percentage ratios of the proposed equity transfer exceed 5% but are less than 25%, the proposed equity transfer constitutes a discloseable transaction of the Company and does not constitute a connected transaction; pursuant to the Shenzhen Stock Exchange ChiNext Listing Rules and other regulations, the proposed equity transfer is subject to approval at the shareholders' meeting, and completion is conditional upon the satisfaction (or waiver, as applicable) of various conditions.

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