Upchain Electronics (301099.SZ) announced that its wholly-owned subsidiary, Hong Kong Taixin, intends to acquire a 70% stake in Yongjia Industrial (International) Co., Ltd. for USD 47.6 million in cash. Upon completion of the transaction, Yongjia Industrial will become a controlled subsidiary of Upchain Electronics and will be included in the consolidated financial statements. Yongjia Industrial primarily engages in the distribution of electronic components and provides supporting solution services. Its core agency brands include Beijing Ingenic, Sitronix, Techpoint, Yutaimicro, Fudan Micro, Dioo Microcircuits, BIWIN, among others. Its product portfolio covers a diverse range of fields including core chips for security and surveillance, LED drivers, transmission chips, power management chips, light source/laser chips, WiFi/Bluetooth chips, and storage solutions.
