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On December 3, Sai Microelectronics made an announcement stating that its wholly-owned subsidiary, Beijing Microchip Technology Co., Ltd., is poised to sign a Partnership Agreement with Qingdao Chuxin Gechuang Technology Co., Ltd. and an individual named Lv Pengzhao. The purpose of this agreement is to jointly establish Hangzhou Chuxin Microtechnology Partnership Enterprise. Microchip Technology plans to allocate 66 million yuan from its own funds, which will constitute 30% of the total contribution to the partnership. At present, Chuxin Microtechnology is still in the preparatory phase and has not yet finished its industrial and commercial registration. Should any unforeseen circumstances or force majeure events arise, there is a possibility that this investment may not be fully carried out or could even be called off.
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