Advanced Fiber Resources to Acquire 99.97% of Passive Optical Component Maker Anjiexun for RMB 1.64 Billion

C114 News, October 15 (Shui Yi) On July 29, 2025, Advanced Fiber Resources announced that it plans to acquire control of Suzhou Anjiexun Optoelectronics Technology Co., Ltd. (Anjiexun) through a share issuance, convertible corporate bonds and cash payment. Last night, Advanced Fiber Resources said that as Sha Shuli has withdrawn from the transaction, the target assets have been adjusted to 99.97% of Anjiexun's shares.

According to the Asset Valuation Report issued by Zhonglian Appraisal with June 30, 2025 as the valuation base date, the appraised value of Anjiexun's total shareholders' equity was RMB 1,650,163,500 as of that date. Based on the appraisal results and friendly negotiations, the parties confirmed the transaction price for the target assets at RMB 1,639,508,000.

In terms of funding sources, RMB 491,852,400 will be paid as cash consideration, RMB 655,819,400 through share issuance, and RMB 491,836,200 through the issuance of convertible corporate bonds. Advanced Fiber Resources will raise supporting funds of no more than RMB 800,000,000, of which RMB 491,852,400 will be used to pay the cash consideration and RMB 308,147,600 to replenish the listed company's working capital and repay debts.

Data show that Anjiexun posted revenue of RMB 508,564,500, RMB 786,119,700 and RMB 745,831,700 in 2024, 2025 and January-June 2026 respectively, with net profit of RMB 109,596,800, RMB 178,612,000 and RMB 204,771,400.

Advanced Fiber Resources said that after the acquisition, Anjiexun will form strong synergy and complementarity with the company in product portfolio, production resources, technology R&D and customer resources.

In terms of product portfolio, Anjiexun has efficient delivery capabilities and strong mass-production efficiency in high-speed optical module components and optical interconnect products, with a broad application base particularly in data communications. Advanced Fiber Resources has solid R&D foundations and market competitiveness in polarization-maintaining fiber arrays, polarization-maintaining fiber pigtails, isolators, wavelength division multiplexers, polarization beam splitters/combiners and lithium niobate modulators, with a broad application base particularly in telecom backbone network communications. Together, the two can offer a more comprehensive product portfolio for downstream data communications and telecom networks.

In terms of production resources, following the acquisition, Advanced Fiber Resources will have three domestic production bases in Zhuhai, Suzhou and Henan, covering South China, East China and Central China to form a "production triangle." This will enable the company to further integrate domestic production line resources according to customer needs and provide more efficient production and delivery solutions. Overseas, both companies have operations in Thailand, allowing better integration of overseas supply chains, lower supply chain costs, efficient resource allocation and stronger global expansion effects.

In terms of technology R&D, Advanced Fiber Resources has built an R&D team of more than 700 people and accumulated over 300 patents over the years. The company will continue to focus on R&D planning and customization of high-end products, with its R&D resources and results empowering Anjiexun. Anjiexun's automated equipment R&D and solution capabilities will overall improve Advanced Fiber Resources' production efficiency and product delivery capacity, help commercialize R&D results and enhance the company's overall ability to translate research into market applications.

In terms of customer resources, Advanced Fiber Resources derives a relatively high share of overseas business in optical communication components, with Coherent and Lumentum among its major overseas customers, reflecting a mature global footprint. Anjiexun mainly serves the domestic market with limited overseas sales. After the acquisition, the two will complement each other in domestic and overseas customer resources, creating synergy across global markets and further strengthening the listed company's competitive position in the global optical communication components sector.