On July 13, Fuda Alloy released a preliminary announcement regarding a major asset restructuring and the signing of a letter of intent for an acquisition. According to the announcement, Fuda Alloy Materials Co., Ltd. (hereinafter referred to as the “Company”) is planning to acquire no less than 51% equity interest in Zhejiang Gonda Electronic Technology Co., Ltd. (“Gonda Electronic”) through a cash transaction. The final acquisition ratio is subject to further evaluation and negotiation. The proposed deal will be conducted entirely in cash and does not involve the issuance of new shares by the Company.
Gonda Electronic is ultimately controlled by Mr. Wang Zhongnan, the son of the Company’s actual controller, Mr. Wang Dawu. As such, the transaction constitutes a related-party transaction. Upon completion, Mr. Wang Dawu will remain the actual controller of the listed company, and there will be no change in control.
Gonda Electronic is a high-tech enterprise specializing in the research, development, production, and sales of electronic paste products, with a primary focus on silver paste for TOPCon solar cells. Photovoltaic silver paste is mainly used for the front and rear electrodes of crystalline silicon solar cells to collect and conduct the electric current generated by the cells. Gonda Electronic has achieved independent R&D and in-house production of the three key raw materials in photovoltaic silver paste—silver powder, glass powder, and organic carrier—and possesses multiple core process control technologies. It is one of the few companies in China capable of full industrial chain self-development and self-production of silver paste products. The company has established long-term and stable partnerships with major industry players such as Tongwei, JA Solar, Trina Solar, Aiko Solar, and Astronergy.
Fuda Alloy stated that after the transaction is completed, Gonda Electronic will become a controlling subsidiary of the listed company. The Company will expand its business beyond existing electrical contact materials, composite contacts, and contact assemblies by adding conductive silver paste to its portfolio. This will enrich its electrical metal materials industry chain and allow both parties to leverage synergies in silver powder processing, low-silver formulation R&D, and material cost reduction. The transaction is expected to create new profit growth drivers, enhance the Company’s profitability and long-term operational resilience, and improve its overall competitiveness. It aligns with national industrial policies and the Company’s strategic development goals and serves the interests of the Company and its shareholders.
Source：https://mp.weixin.qq.com/s/cbRg4UIhmETNin0bSTvcTA
