Shanghai Bright Power Semiconductor Co., Ltd. (SHSE:688368) agreed to acquire remaining 49% stake in Shanghai Xinfei Semiconductor Technology Co., Ltd. from Huitong County Juxin Enterprise Management Partnership (Limited Partnership), Huitong County Champagne Hill Enterprise Management Center (Limited Partnership), Huitong County Jusheng Enterprise Management Consulting Center and Gong Pei for CNY 200 million on November 11, 2021. The total cash consideration will be paid within 30 days totaling CNY 102,058,425 and the remaining amount within 60 days after the approval of the board of directors. Prior to acquisition, Shanghai Bright holds 51%, Huitong County Juxin 27.05%, Huitong County Champagne 10.98%, Huitong County Jusheng 4.70% and Gong Pei 6.27% stake in Shanghai Xinfei Semiconductor. Post completion, Shanghai Xinfei Semiconductor will become wholly owned subsidiary of Shanghai Bright. The transaction will be funded from own funds of CNY 204,116,900. The total assets and net assets of Shanghai Xinfei Semiconductor as of June 30,2021, were CNY 77.05 million and CNY 56.27 million, respectively. The transaction has been reviewed and approved at the twentieth meeting of the second board of directors and the twentieth meeting of the second board of supervisors, and there is no need to submit it to the general meeting of shareholders for deliberation.