Ting Hsin's Acquisition Boosts LiuliGongfang Shares to Surge and Hit Limit Up

ADATA (3260-TW) announced late last night that it will launch a cash tender offer for LiuliGongfang (9949-TW) ordinary shares at NT$24 per share, with the total acquisition value estimated between NT$240 million and NT$600 million. Following the announcement, LiuliGongfang’s stock price gapped up and surged to the daily limit on the back of ADATA’s move. Despite intraday volatility, the stock maintained strong upward momentum, reaching its highest level in over two and a half months.

LiuliGongfang is one of Taiwan’s representative cultural and creative enterprises, specializing in the design and production of high-end crystal glass (liuli) art pieces. Listed on the GreTai Securities Market in 2003, it was Taiwan’s first publicly traded cultural industry company. Chairman Chou Kang-chi also serves as a director at ADATA. ADATA expressed confidence that the acquisition will elevate its brand image and differentiation, leveraging its capital strength and technological resources to create a cross-sector advantage combining 'cultural art × technology brand'.

LiuliGongfang reported full-year 2025 revenue of NT$141 million, down 17% year-on-year, with earnings per share of NT$5.29. In the first five months of the current year, revenue reached approximately NT$58 million, up 5.51% year-on-year.

LiuliGongfang stated that it will convene a review committee within 15 days of receiving the tender offer notice to assess the acquirer’s identity and financial standing, the fairness of the offer terms, and the legitimacy of the funding sources. The company will also commission an independent expert to provide an evaluation opinion.