Andeli: The target company Yongqiang Technology has a market share of less than 1%, but it has the research and production capabilities of developing and producing high-speed copper-clad laminate products of M8 level and above.

Andeli replied to the regulatory work letter from the Shanghai Stock Exchange. The target of this acquisition, Ningbo Yongqiang Technology Co., Ltd., specializes in general and high-end copper-clad laminate materials, which are electronic interconnect materials in the upstream of printed circuit boards. The target company achieved an operating income of 224.0152 million yuan in 2025, which is smaller in scale compared to industry leading companies such as TPK Electronics and Shengyi Technology, with a market share of less than 1%. However, the target company already has the R&D and production capabilities for high-speed copper-clad laminate products of M8 grade and above. The materials of M6-M9 grade have already achieved technological industrialization and mass production, while the materials of M10 grade are undergoing downstream verification.