On September 23, Puyuan Semiconductor unveiled its strategic move to acquire a 49% equity stake in Noah Changtian from Zhuhai Nuoyan, Yuanhe Puhua, and Hengqin Qiangke. This acquisition will be executed through a combination of share issuance, convertible corporate bonds, and cash payment, alongside the raising of corresponding funds. Once the transaction is finalized, Noah Changtian will transition into a fully-owned subsidiary of Puyuan Semiconductor, with its subsidiary, SHM, also becoming a wholly-owned entity under Puyuan Semiconductor's umbrella. The total investment for this acquisition stands at 247,058,000 yuan.

The target company, Noah Changtian, specializes in 2D NAND and its derivative memory chips, encompassing SLC NAND, eMMC, and MCP, tailored for the mid-to-high-end market segment. Its products find widespread application in industrial control systems, home appliances, security solutions, wearable technology, and smart terminals. Leveraging its exceptional product development and engineering prowess, the target company boasts a substantial customer base and boasts hundreds of active end-users, showcasing formidable competitiveness on the global stage.

Post-acquisition, Puyuan Semiconductor will amalgamate its R&D and design expertise in the integrated circuit domain with the target company's product engineering capabilities. This synergy will not only enhance the main product offerings but also expand the sales network, culminating in the establishment of a comprehensive global footprint for non-volatile memory products.