Haojiang Intelligent plans to acquire a 53% stake in Yout Electric Power to improve its electronic power supply business layout

On April 3, Jiangyou Intelligent (301320) released an announcement. The company plans to acquire 53% of the equity of Hangzhou Youte Power Co., Ltd. (hereinafter referred to as “Youte Power”) for RMB 59.36 million. Upon completion of this transaction, Youte Power will become a controlling subsidiary of the company and be included in the scope of the consolidated financial statements. The transaction funds will come from the company’s own funds or self-raised funds.

According to the announcement, Jiangyou Intelligent has signed a “Equity Acquisition Agreement for Listed Companies” with the shareholders of Youte Power: Mao Zhaoqi, Hangzhou Youshengmei Electric Enterprise Management Co., Ltd., Hangzhou Zhiyouming Enterprise Management Partnership (Limited Partnership), Zhangjiagang Maizhi Electronic Technology Co., Ltd., Hangzhou Jiegao Technology Co., Ltd., and the target company.

As disclosed, Youte Power is committed to the research, development, and production of high-quality intelligent LED terminal solutions and high-power LED power supplies. Its main products include various types of lighting driver power supplies and lighting scenario solution sets. The company has focused on the high-power intelligent LED driver power supply sector for nearly ten years, concentrating on high-end scenarios such as outdoor lighting, sports lighting, and plant lighting. It independently develops a full range of high-efficiency lighting driver power supplies. Its products cover the entire power range from 40W to 2000W, and feature core advantages such as high ingress protection capability, ultra-high conversion efficiency (≥97%), intelligent dimming, and stable operation across a wide temperature range. The products are mainly used in developed countries and regions in Europe, America, and Australia. Financial data shows that in fiscal year 2025, Youte Power achieved operating revenue of RMB 77.99 million and net profit of RMB 9.75 million. As of the end of 2025, its total assets were RMB 92.71 million.

Jiangyou Intelligent states that this acquisition is based on the company’s development strategy and business needs. Its aim is to leverage the technical and resource advantages of both parties to achieve coordinated development across the industrial chain. The company’s existing businesses cover precision structural parts and electronic components in fields such as smart home appliances, smart home, and automotive electronics. After acquiring Youte Power, it will complement the company’s existing electronic products in terms of technology, strengthen the company’s core competitiveness in electronic products—especially high-end driver power supplies—and promote a “dual-wheel” development pattern of “driver-type products and high-end electronic products.”

From an industry perspective, in recent years the LED driver power supply industry has shown a steady development trend. With the advancement of global energy-saving and emissions-reduction policies and the increasing penetration rate of LED lighting, especially as demand grows for high-end application scenarios such as outdoor lighting, sports venues, and plant factories, the market size of high-power LED driver power supplies has continued to expand.

Data shows that driven by the rapid growth of the LED lighting application market, as the core supporting component of smart lighting equipment, the demand in the downstream market for LED driver power supplies has shown a continuous upward trend. According to a survey report by Grand View Research, the global LED driver power supply market size is expected to reach USD 30.8 billion by 2030, with a compound annual growth rate of 23.56% from 2022 to 2030. The industry’s growth rate is significantly higher than the average level of traditional manufacturing industries.

Related research reports from securities firms believe that the industry is showing a clear trend toward increasing concentration. Leading companies continuously expand market share through technological innovation, capacity expansion, and industrial chain integration. At the same time, under the push of green and low-carbon policies, demand for efficient and energy-saving LED driver power supply products is growing, further accelerating adjustments to the industry structure. Institutions also note that the LED driver power supply industry still faces uncertainties such as fluctuations in raw material prices, high technology research and development investment, and intensifying market competition; the companies’ technical strength, product quality, and customer service capability will become core competitive factors.