Guanxiang Tech to Acquire 60% Stake in Liaojing Electronics for 482 Million Yuan in Cash
Guanxiang Technology (301213.SZ) revised its acquisition plan for military semiconductor supplier Jinzhou Liaojing Electronics, reducing the target stake from 100% to 60% in an all-cash deal valued at approximately 482 million yuan. The revised plan, disclosed on September 21, 2026, eliminates previous share issuance and private placement financing. Guanxiang will redirect about 186 million yuan of unspent raised funds to finance the acquisition. The deal includes performance commitments for 2026-2028. Guanxiang's stock rose 14.07% on the announcement day.
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China's Guanxiang Tech slashes acquisition target to 60% in cash deal worth $4.82 billion
Guanxiang Tech (301213.SZ) has significantly revised its acquisition plan for Jinzhou Liaojing Electronics, reducing the target stake from 100% to 60% in a cash-only deal valued at approximately 4.82 billion yuan. The revised plan, disclosed on September 21, eliminates the previous share issuance and private placement financing components. The company will redirect about 1.86 billion yuan of unspent raised funds from its 'Digital Intelligence Capability Enhancement Project' to finance the acquisition, with the remainder covered by internal or self-raised funds. Liaojing Electronics, a military semiconductor supplier, reported strong financial growth with net profit surging to 48.23 million yuan in 2025 from 21.91 million yuan in 2024. The deal includes performance commitments for 2026-2028 with net profit targets of 69 million, 73 million, and 77 million yuan respectively. The transaction constitutes a major adjustment under Chinese securities regulations and is classified as a related-party transaction. Guanxiang Tech's stock rose 14.07% on the announcement day.
Read sourceGuanxiang Tech slashes acquisition target to 60% stake, shifts to all-cash deal
Chinese military software firm Guanxiang Technology (SZ:301213) has significantly revised its acquisition plan for Jinzhou Liaojing Electronics, reducing the target stake from 100% to 60% and switching from a stock-and-cash offer to an all-cash payment of approximately 482 million yuan. The deal, disclosed on September 21, 2026, now involves 15 sellers instead of 22, and eliminates a planned equity fundraising component. Guanxiang will redirect about 186 million yuan of unspent IPO funds from a digitalization project to finance the purchase, with the remainder covered by its own funds or borrowings. Liaojing Electronics, a military-grade semiconductor supplier and national 'Little Giant' enterprise, reported net profit of 48.23 million yuan in 2025, more than double the prior year. The sellers have committed to net profit targets of 69 million yuan in 2026, 73 million yuan in 2027, and 77 million yuan in 2028. The transaction constitutes a related-party deal and a major asset restructuring under Chinese securities rules. Guanxiang's stock rose 14.07% on the announcement day.
Read sourceGuanxiang Tech to Acquire 60% Stake in Liaojing Electronics for 482 Million Yuan
Guanxiang Technology (301213.SZ) announced it will acquire a 60% stake in Jinzhou Liaojing Electronics Technology Co., Ltd. from Su Zhou and other counterparties for 482 million yuan in cash. The transaction constitutes a major asset restructuring. Liaojing Electronics is a key supplier in the national defense technology sector, specializing in semiconductor discrete devices and integrated circuits. Its products are widely used in aerospace, aviation, weaponry, naval, electronics, and nuclear physics fields, as well as in multiple major national projects. Guanxiang Tech stated that the acquisition will create complementarity and synergies with the target company in areas such as modern warfare and future smart equipment industry chain layout, technology research and development, market expansion, and product iteration.
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Guanxiang Tech Slashes Acquisition Target to 60% Stake in Liao Jing Electronics for $4.82 Billion Yuan
On September 21, 2026, Guanxiang Technology (stock code 301213) disclosed a significantly revised acquisition plan for Liao Jing Electronics, a military semiconductor components supplier. The original plan to acquire 100% of Liao Jing via a mix of stock and cash has been reduced to a 60% stake purchase for approximately 4.82 billion yuan, all in cash. The deal now involves 15 transaction counterparties, down from 22, and eliminates a planned equity offering. Guanxiang will use 1.86 billion yuan of previously allocated fundraising for digitalization projects to partially fund the acquisition, with the remainder from its own funds or borrowings. The target company, Liao Jing, reported strong financial growth, with net profit surging to 48.23 million yuan in 2025 from 21.91 million yuan in 2024. The sellers have committed to net profit targets of 69 million yuan, 73 million yuan, and 77 million yuan for 2026 through 2028. The transaction constitutes a major asset restructuring and a related-party transaction, as one seller will be nominated to Guanxiang's board. Guanxiang's stock rose 14.07% on the announcement day.
Read sourceGuanxiang Tech to Acquire 60% Stake in Liaojing Electronics for 482 Million Yuan
Guanxiang Technology (301213.SZ) announced on September 21 that it will acquire a 60% equity stake in Liaojing Electronics from Su Zhou and other sellers for 482.2558 million yuan in cash. Liaojing Electronics is a key supplier in the national defense technology sector, specializing in semiconductor discrete devices and integrated circuits used in aerospace, aviation, weaponry, naval, electronics, and nuclear physics applications, as well as major national projects. Guanxiang Tech stated the acquisition will create synergies in modern warfare and future smart equipment supply chains, technology R&D, market expansion, and product iteration. The deal is expected to strengthen Guanxiang's core solid-state device technology, edge computing hardware, and its 'data algorithm-edge computing-software architecture-core hardware-smart equipment' full industry chain. It aims to enhance the company's ability to provide integrated solutions including core components, intelligent systems, and lifecycle management to military clients, thereby boosting competitiveness, sales, and shareholder value.
Read sourceGuanxiang Technology to Buy 60% Stake in Liaojing Electronics for 482 Million Yuan
Guanxiang Technology (301213) announced on September 21 that it plans to acquire a 60% stake in Liaojing Electronics for 482 million yuan in cash. Liaojing Electronics is a key supplier in the national defense technology sector, specializing in semiconductor discrete devices and integrated circuits. Its products are widely used in aerospace, aviation, weaponry, naval, electronics, and nuclear physics fields, as well as in multiple major national projects. Guanxiang Technology stated that the transaction will create complementarity and synergies with Liaojing Electronics in areas such as modern warfare and future smart equipment industry chain layout, technology research and development, market expansion, and product iteration.
Read sourceGuanxiang Technology to Buy 60% Stake in Liaojing Electronics for 482 Million Yuan
According to a report by Securities Times on September 21, Guanxiang Technology (观想科技) announced a plan to acquire a 60% stake in Liaojing Electronics (辽晶电子) for 4.82 billion yuan. Liaojing Electronics is described as a key supporting unit in the national defense technology sector, with deep involvement in semiconductor discrete devices, nuclear physics, and several major national projects. Guanxiang Technology stated that the transaction will create complementarity and synergy with Liaojing Electronics in areas such as modern warfare and future smart equipment industry chain layout, technology research and development, market expansion, and product iteration. The report was sourced from East Money News and published on the East Money website's company news section.
Read sourceGuanxiang Tech to Acquire 60% Stake in Liaojing Electronics for 482 Million Yuan in Cash
Guanxiang Technology (观想科技) announced a plan to acquire a 60% equity stake in Liaojing Electronics (辽晶电子) from 15 counterparties, including Su Zhou, for a total cash consideration of 482 million yuan. The transaction is classified as a related-party transaction and a major asset restructuring, but does not constitute a reverse merger or backdoor listing. The company's board of directors approved the proposal on September 21, 2026. The deal remains subject to shareholder approval and must also obtain a review opinion from the State Administration of Science, Technology and Industry for National Defense or the relevant competent authority regarding military-related matters.
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