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On October 16, Galaxy Microelectronics unveiled its strategic initiative to acquire a complete 100% stake in Hitek Semiconductor (Shanghai) Co., Ltd. This will be achieved through the issuance of shares, with the total valuation pegged at RMB 645 million. Additionally, the company intends to raise supplementary funds, not exceeding RMB 580 million, to support the acquisition and future operations. Although this transaction is classified as a related-party deal, it does not fall under the category of a major asset restructuring or a restructuring and listing scenario. However, it is subject to the necessary approvals, including endorsement from the shareholders' meeting, a thorough review by the Shanghai Stock Exchange, and final registration with the China Securities Regulatory Commission to ensure compliance and transparency.
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