Guangzhi Technology plans to acquire 100% equity of First Lead Electric Science through an 'acquisition', and the stock will resume trading today.

On October 14, Golden Ten Data reported that on the evening of October 13, Guangzhi Technology disclosed a major asset restructuring plan, and the company intends to purchase 100% of the shares held by all 55 shareholders of Pioneer Electronic Technology Co., Ltd. such as Pioneer Rare Materials and Zhongjin Jiatai through the issuance of shares and cash payment, and at the same time intends to raise matching funds from no more than 35 specific investors. The trading price of the target company has not yet been determined, and the company's shares will resume trading from the opening of the market on October 14, 2024. Pioneer Electric Technology has "prepared" for an IPO, with a previous valuation of more than 20 billion yuan. As of the first half of this year, the total assets of LEAD Technology were 15.33 billion yuan, far exceeding the total assets of Guangzhi Technology of 3.514 billion yuan. No matter from the perspective of total assets, profit scale, and valuation level, this acquisition can be described as a "snake swallowing elephant" merger and acquisition.