Union Semiconductor (Hefei) Co., Ltd. (SHSE:688403) agreed to acquire 19.81% stake in Xinfeng Technology, Inc. from Walton Advanced Engineering (Suzhou) Inc. for CNY 90.5 million on October 17, 2025. A cash consideration of CNY 90.48 million will be paid by Union Semiconductor (Hefei) Co., Ltd. As part of consideration, CNY 90.48 million is paid towards common equity of Xinfeng Technology, Inc.

For the period ending December 31, 2024, Xinfeng Technology, Inc. reported net loss of CNY 38.51 million. As of December 31, 2024, Xinfeng Technology, Inc. reported total common equity of CNY 12.52 million.

Lin Yi-Ching of Ching Cheng CPA acted as accountant for Walton Advanced Engineering Inc.