Recently, Markor Home released a draft plan for issuing shares and paying cash to purchase assets and raise supporting funds in a related-party transaction. The company plans to formally enter the high-speed copper cable interconnection track by acquiring 100 percent of Shenzhen Wandetai Optoelectronics Technology Co., Ltd., thereby advancing its strategic transformation and upgrading toward new quality productive forces and opening a new growth curve.

Steadily advancing strategic transformation

This transaction plan consists of two core parts. First, Markor Home plans to acquire 100 percent of Wandetai's equity held in total by three counterparties including Shenzhen Wande Yasheng Technology Enterprise Limited Partnership through a combination of share issuance and cash payment. Second, it plans to issue shares to no more than 35 specific investors to raise supporting funds, with the total amount not exceeding 100 percent of the transaction price for the share issuance asset purchase, and the number of issued shares not exceeding 30 percent of the company's total share capital before the transaction. The raised funds will be used to pay the cash consideration of the transaction, intermediary fees, relevant taxes and fees, and to supplement working capital.

In terms of issuance price, the share issuance price for this asset purchase has been set at RMB 1.94 per share, with a lock-up period of three years. The performance compensation plan will be supplemented in a later report. After the transaction is completed, control of Markor Home will remain unchanged and stable. This transaction does not constitute a major asset restructuring or a restructuring listing.

This transaction is a key step in Markor Home's strategic transformation. In recent years, the company has strategically scaled back its traditional core furniture business and actively explored emerging industries supported by the state. Through the acquisition of Wandetai, Markor Home will formally enter the computer, communications, and other electronic equipment manufacturing industry, adding research and development, production, and sales business related to high-speed copper cable interconnection and achieving a cross-sector upgrade from traditional home furnishing to the information and communications field.

Against the policy backdrop of deep integration between the digital economy and the real economy, the global high-speed copper cable market is expected to grow from USD 2.24 billion in 2024 to USD 5.34 billion in 2030, with a compound annual growth rate of about 16 percent, indicating huge market potential. Through this acquisition, Markor Home is expected to fully benefit from industry growth dividends, expand new business growth points, improve operating quality and profitability, enhance risk resistance, and bring long-term value returns to all shareholders, especially small and medium shareholders.

High-speed interconnect opens a second growth pole

As the core target of this transaction, Wandetai was established in May 2018. It is a nationally recognized high-tech enterprise and a Shenzhen specialized and sophisticated enterprise that produces new and unique products. It focuses on short-distance data transmission, with its main business being the research and development, production, and sales of high-speed copper cables and LOOPBACK intelligent loopback test modules used in scenarios such as server clusters and large server rooms.

In terms of customer resources, Wandetai has established cooperation with internationally renowned semiconductor manufacturers such as Marvell, Maxlinear, and Semtech. Its core products have entered the supply chain systems of companies such as Source Photonics, Infraeo Inc., and The Siemon Company, winning broad market recognition thanks to stable product quality.

Hardcore technological breakthroughs have built competitive barriers. According to reports, multiple key technologies of Wandetai have reached advanced industry levels. In ultra-high-speed interconnect technology, the company is at the forefront of the industry, having successfully launched a full series of 800G and 1.6T high-speed interconnect solutions, covering active copper cables, active electrical cables, and high-speed passive copper cables, among other products, which can meet the high-bandwidth transmission needs of server clusters and large machine rooms. Among them, the AEC product developed in 2025 achieved stable transmission over 9. meters at an 800Gbps rate, breaking the industry's transmission distance bottleneck.

In high-precision test module technology, its self-developed 25G to 1.6T LOOPBACK intelligent loopback test module uses programmable algorithms to achieve power consumption fluctuation monitoring accuracy of plus or minus 2. percent, providing a high-precision dedicated testing solution for network port functional verification, with technical indicators better than the industry average.

At the same time, the target company has built automated production lines with annual capacity of 500,000 units. Among them, the 800G and 400G high-speed cable production line has an efficiency of 150 UPH. Through continuous optimization of production processes, product first-pass yield has exceeded 98 percent. Meanwhile, the company has independently developed 112G and 224G copper cable bare wire materials and realized mass production, building a stable domestic supply chain system and effectively controlling production costs.

As a high-tech enterprise, Wandetai's technical research and development capability has been transformed into actual market competitiveness. Its core technologies not only ensure product advantages in ultra-high speeds, long-distance transmission, and low power consumption, but also help it rapidly capture market share in the high-speed interconnect track.

Through this transaction, the company will further promote the gradual implementation of its strategic transformation, expand new business growth points, improve operating quality and profitability, enhance risk resistance, and thereby effectively safeguard the rights and interests of all shareholders of the listed company, especially small and medium shareholders.

Source: Securities Times