Shanghai Fullhan Microelectronics Co., Ltd. signed a share agreement to acquire an additional 19.6% stake in Mouxin Technology Co., Ltd. from Shanghai Shiqing Enterprise Management Center (Limited Partnership), Shanghai Lingxin Enterprise Management Center (Limited Partnership) and Yang Songtao for approximately CNY 260 million.
January 25, 2021
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Shanghai Fullhan Microelectronics Co., Ltd. (SZSE:300613) signed a share transfer intent agreement to acquire an additional 19.6% stake in Mouxin Technology (Shanghai) Co., Ltd. from Shanghai Shiqing Enterprise Management Center (Limited Partnership), Shanghai Lingxin Enterprise Management Center (Limited Partnership) and Yang Songtao on January 26, 2021. Shanghai Fullhan Microelectronics Co., Ltd. signed a share agreement to acquire an additional 19.6% stake in Mouxin Technology (Shanghai) Co., Ltd. from Shanghai Shiqing Enterprise Management Center (Limited Partnership), Shanghai Lingxin Enterprise Management Center (Limited Partnership) and Yang Songtao for approximately CNY 260 million on February 5, 2021. Shanghai Fullhan Microelectronics Co., Ltd. will acquire additional 13.3846%, 6.0129% and 0.1725% stake from Shanghai Shiqing Enterprise Management Center (Limited Partnership), Shanghai Lingxin Enterprise Management Center (Limited Partnership) and Yang Songtao for CNY 13.68 million, CNY 6.15 million and CNY 0.18 million respectively. The consideration shall be payable within 10 working days as a one time payment after the agreement effective date. In a related transaction, Shanghai Fullhan Microelectronics Co., Ltd. signed an agreement to acquire an additional 12.86% stake from Lhasa Junqi Enterprise Management Co., Ltd. for CNY 5 million on January 26, 2021. As a result of these transactions, Shanghai Fullhan Microelectronics Co., Ltd. will hold 51% stake in Mouxin Technology (Shanghai) Co., Ltd. For the year ending December 2020, Mouxin Technology (Shanghai) Co., Ltd. reported total assets of CNY 97.32 million, net assets of CNY 72.81 million, revenues of CNY 21.99 million, operating loss of CNY 107.52 million and net loss of CNY 103.38 million. The transaction is subject to approval by shareholders of Shanghai Fullhan Microelectronics Co., Ltd. The Board of Directors of Shanghai Fullhan Microelectronics Co., Ltd, has approved the transaction.
Shanghai Fullhan Microelectronics Co., Ltd is a China-based company mainly engaged in chip design, research and development business. The Company specializes in the design and development of security video surveillance, automotive electronics, intelligent hardware chips, providing customers with high-performance video codec SOC chip, image signal processor ISP chip and complete product solutions, as well as providing technology development, IC design and other technical services. The Company distributes its products in domestic market and to overseas markets.
Shanghai Fullhan Microelectronics Co., Ltd. signed a share agreement to acquire an additional 19.6% stake in Mouxin Technology Co., Ltd. from Shanghai Shiqing Enterprise Management Center (Limited Partnership), Shanghai Lingxin Enterprise Management Center (Limited Partnership) and Yang Songtao for approximately CNY 260 million.