On June 17, HuiCheng Shares disclosed its intention to invest 400 million yuan in a collaborative effort to set up a joint venture, namely Hefei Jingruiwang Technology Co., Ltd. This partnership will be formed alongside Bairuifa—a company under the control of HuiCheng's actual controller and chairman, Zheng Ruijun, who also serves as an indirect shareholder of HuiCheng—and Hong Kong Huiwei, which is designated as the equity-holding platform for the Jingruiwang team. Under this agreement, Jingruiwang is set to acquire 100% of the equity in Shanghai Zhenglong Xinchuang Microelectronics Co., Ltd. from Hong Kong Huiwei at no cost. Boasting a registered capital of 700 million yuan, HuiCheng Shares will secure a 57.14% stake in the joint venture. Jingruiwang will emerge as the company's premier R&D and mass production hub for HITS advanced packaging technology, with Zhenglong Xinchuang functioning as its wholly-owned subsidiary and HITS advanced packaging R&D headquarters, tasked with spearheading technological innovation and business development initiatives.