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The wholly-owned subsidiary of Sunway Communication has outlined plans to acquire a 55% equity stake in Sunway Electronic Technology (Yiyang), a joint venture, through a cash transaction not exceeding RMB 1.1 billion. Upon completion of this acquisition, the subsidiary's ownership stake in the joint venture will ascend to 70%, thereby granting it controlling interest. Furthermore, all involved parties have reached a consensus to subsequently infuse an additional RMB 1 billion in capital into the company. This strategic initiative is designed to cater to the escalating global demand for high-end MLCC (Multilayer Ceramic Chip Capacitor) products and to expedite Sunway Communication's strategic positioning within the high-end passive component market. It is important to note that this transaction is currently pending internal decision-making processes and regulatory approvals.
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