On the evening of December 1, Toread Holdings Group Co., Ltd. made an announcement, revealing its intention to invest 678 million yuan in acquiring 51% stakes in two semiconductor firms. Specifically, the company aims to purchase a 51% stake in Shenzhen Betterlife Electronic Technology Co., Ltd. for 321 million yuan, along with a 51% stake in Shanghai Tongtu Semiconductor Technology Co., Ltd. for 357 million yuan. The primary goal behind this acquisition is to foster deep synergy and extensive reinforcement with Toread's existing chip division. Through the integration of the technologies, products, and client bases of these two companies, Toread anticipates accelerating the technological advancement and market penetration of its chip segment. This move is expected to result in a more comprehensive and resilient chip industry framework, significantly boosting the company's overall competitiveness within the chip sector and propelling the swift growth of its core chip business.