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GigaDevice has unveiled its plan to acquire a 100% equity stake in Chengxinwei, currently held by Cao Jianlin, Cao Songlin, Lianzhichuangxin, and Huizhichuangxin, through a cash transaction amounting to RMB 310 million. Notably, this deal is neither classified as a related-party transaction nor does it qualify as a significant asset restructuring event. Following a thorough valuation process, the aggregate equity value of Chengxinwei's shareholders has been pegged at RMB 312 million. GigaDevice intends to finance the acquisition cost using its internal cash reserves and/or funds raised independently. Chengxinwei boasts a wealth of technological expertise across various sectors of the integrated circuit industry, coupled with a robust sales force. This strategic acquisition is poised to enable GigaDevice to broaden its technological and product portfolios significantly.
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