Hangzhou Star Shuaier Electric Appliance said on 13 October 2026 that it plans to buy 100% of Dongguan Fanyu Automation Technology for a provisional RMB840m (about US$124m) through a mix of cash and new shares.
Why Hangzhou Star Shuaier Electric Appliance Co., Ltd. is buying Dongguan Fanyu Automation Technology Co., Ltd.
Fanyu researches, makes and sells precision tool manufacturing equipment and semi-finished drill bits used to drill micro-holes in printed circuit boards. Chinese financial media grouped the deal with a wave of cross-sector acquisitions of PCB, robotics and chip-supply-chain targets.
Deal terms and financing
Star Shuaier will pay 51% of the price in cash and 49% in new shares issued to Chen Yong at RMB13.43 each, 80% of the 60-day average price; Chen Guangrong will be paid in cash. If the provisional price is within ±5% of the final valuation it becomes the final price. Chen Yong has guaranteed net profit of at least RMB50m, RMB70m and RMB90m for 2026 to 2028, and his shares will be locked up for 36 months.
Regulatory approvals and timing
Audit and valuation work is still under way. The deal is expected to be a related-party transaction, because Chen Yong will hold more than 5% of Star Shuaier, but not a major asset restructuring. As a share-issue acquisition it needs shareholder approval, Shenzhen Stock Exchange review and CSRC registration.
Market context
Star Shuaier is controlled by Chen Lijuan and Lou Yongwei, who took over from founder Lou Yuegen within the past 36 months; the deal will not change control.
