On the evening of June 25th, Kexiang Stock (300903) announced that it plans to acquire 90% equity of Shenzhen Ainoxin RF Circuit Co., Ltd. ("Ainoxin") in cash. After preliminary negotiations, the overall valuation of Ainoxin is set not to exceed CNY 120 million.

According to public information, Ainoxin has a registered capital of CNY 37.5 million and its business scope includes R&D and sales of high-frequency boards, circuit boards, and electronic products; R&D and sales of related equipment for circuit boards; R&D and sales of electronic components; domestic trade; import and export of goods and technology, etc. The original shareholders include Wang Haibo, Wang Chunhua, Xu Lidong, and Shenzhen Nuoxin Zhihui Investment Development Enterprise (limited partnership). After the completion of the equity transfer, Kexiang Stock will hold 90% of the equity of Ainoxin.

Kexiang Stock stated that the purpose of this acquisition is to acquire Ainoxin and its wholly-owned subsidiaries, including Jiangsu Ainoxin Circuit Technology Co., Ltd., Ainoxin Circuit (Vietnam) Co., Ltd., Shenzhen Ainoxin Industrial Co., Ltd., and Hong Kong Ainoxin Circuit Co., Ltd. Ainoxin specializes in R&D, production, and sales of high-frequency, high-speed, and special circuit boards. It has accumulated rich experience in the selection of domestic and foreign high-frequency materials, engineering processes for RF microwave circuits, and application experience for various frequency products. Especially for products such as mobile communication base station antennas, base station filters, satellite high-precision antennas, car speeding warning radars, car collision warning radars, microwave passive devices, and active modules, it has extensive industry experience. If the acquisition is successful, it is expected to enhance the company's competitiveness in the fields of mobile communications, satellite communications, and automotive safety electronics.

In addition, Ainoxin's overseas wholly-owned subsidiary, Inorsen Vina Co., Ltd. (Chinese name: Ainoxin Circuit (Vietnam) Co., Ltd.) is located in the Tung Lang industrial cluster area of Funing Township, Funing County, Phu Tho Province, Vietnam. It has an experienced management team of circuit boards in multiple languages ​​such as Chinese, Vietnamese, Korean, and English and has established a stable overseas customer base. This acquisition is a deployment of the company's "Intelligent Linking World" business philosophy, aiming to provide one-stop high-quality electronic product services to global customers with Vietnam as the starting point and laying a solid foundation for expanding the global electronic market.

Kexiang Stock is a high-tech enterprise engaged in R&D, production, and sales of high-density printed circuit boards (PCBs) and can provide one-stop PCB products such as double-layer boards, multi-layer boards, high-density interconnect (HDI) boards, thick copper boards, and high-frequency/high-speed boards. The company's products are mainly used in communication equipment, industrial control, automotive electronics, new energy, consumer electronics, computers, medical equipment, and other fields.

The company has stated in communication with investors that the core process capabilities such as the maximum number of layers, minimum line width and spacing, and minimum aperture of its products are at the same level as comparable listed companies, and the overall production capacity is at an advanced level in the same industry in China, with strong market competitiveness. The company will rely on its advantages in technology, management, efficiency, and other aspects, integrate various resources, continuously optimize the structure of terminal application products, and develop and grow in multiple fields such as 5G communication equipment, new energy vehicle electronics, cloud data computers, and high-end HDI, and form a professional production base. Through high-quality products and services, the company will continue to expand its market and further increase its industry influence.

In 2022, Kexiang Stock achieved a total operating income of CNY 2.637 billion, a year-on-year increase of 17.05%. Among them, the revenue from PCB boards was CNY 2.49 billion, a year-on-year increase of 15.21%, accounting for 94.45% of the operating income.

Like Kexiang, Bicheng can also provide PCB products such as double-sided boards, multi-layer boards and flexible boards. The picture above is a high-frequency board customized by our customers. The material of the high frequency board is ROGERS RO4534. This board is mainly used in Cellular infrastructure base station antennas, WiMAX antenna networks.

If you are interested in our high frequency PCB, welcome to contact us at sales10@bichengpcb.com