Shangluo Electronics made an official announcement (the term "Announcement" with a capital 'A' is typically reserved for formal titles; here, "announcement" in lowercase suffices as it's a general description) stating its intention to issue convertible corporate bonds to unspecified investors, aiming to raise funds totaling no more than RMB 1 billion. These funds are earmarked for acquiring a stake in Ligong Technology and bolstering working capital. Specifically, the company intends to utilize its wholly-owned subsidiary, Changying Holdings, to purchase an 88.79% stake in Ligong Technology for RMB 700 million, thereby gaining actual control over the latter. Ligong Technology specializes in the authorized distribution of IC products, including MCU chips, driver chips, and memory chips, representing renowned chip brands such as NXP, ISSI, and 3PEAK. Upon completion of the acquisition, Shangluo Electronics will leverage the combined resources of both entities, consolidate customer bases, and ultimately enhance profitability.