On November 17, Puyan Semiconductor (688766.SH) disclosed that it had entered into an Equity Transfer Agreement with three shareholders of Zhuhai Noah Changtian Memory Technology Co., Ltd. The agreement outlines the company's intention to acquire a 31% equity stake in Noah Changtian for a consideration of 144 million yuan. Upon completion of this transaction, Puyan Semiconductor's equity interest in Noah Changtian will ascend to 51%, thereby securing a controlling position and, indirectly, gaining ownership of SkyHigh Memory Limited (SHM). SHM, a semiconductor enterprise registered in Hong Kong, China, is dedicated to the development and production of high-performance 2D NAND and derivative memory products (including SLC NAND, eMMC, MCP) and corresponding solutions. Its product portfolio has found extensive applications across various sectors, including industrial control, home appliance security, wearable technology, and smart terminals.