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On September 7, Tianwei Electronics made an announcement that, following thorough deliberation by its board of directors, it had made the decision to abandon the acquisition of a 60% stake in Chengdu Xiuwei Technology Development Co., Ltd., along with the associated capital increase and share expansion plans. Tianwei Electronics explained that, owing to shifts in the external business environment and certain objective factors pertaining to the transaction, after conducting a meticulous evaluation and engaging in consultations with Xiuwei Technology and its relevant counterparties, all involved parties mutually agreed to halt the process. The company underscored the fact that none of the parties had entered into any legally binding agreements.
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