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On July 6, GRINM Semiconductor (688432.SH) made an official announcement stating that it had successfully secured a 60% ownership stake in Anhui Jinglong Semiconductor Technology Co., Ltd. This acquisition was carried out through a public bidding process, with a total investment of RMB 451 million. The company has already made an initial deposit payment of RMB 135 million and signed the [here should be the name of the contract or agreement, if known, e.g., "Share Purchase Agreement"], followed by the settlement of the remaining RMB 315 million. Once the acquisition is finalized, Jinglong Semiconductor will officially become a controlled subsidiary under the umbrella of GRINM Semiconductor and will be incorporated into its consolidated financial statements, marking a significant expansion in GRINM's semiconductor business portfolio.
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