Shanghai Bright Power Semiconductor Co., Ltd. agreed to acquire remaining 49% stake in Shanghai Xinfei Semiconductor Technology Co., Ltd. from Huitong County Juxin Enterprise Management Partnership (Limited Partnership), Huitong County Champagne Hill Enterprise Management Center (Limited Partnership), Huitong County Jusheng Enterprise Management Consulting Center and Gong Pei for CNY 200 million.
November 13, 2021
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Shanghai Bright Power Semiconductor Co., Ltd. (SHSE:688368) agreed to acquire remaining 49% stake in Shanghai Xinfei Semiconductor Technology Co., Ltd. from Huitong County Juxin Enterprise Management Partnership (Limited Partnership), Huitong County Champagne Hill Enterprise Management Center (Limited Partnership), Huitong County Jusheng Enterprise Management Consulting Center and Gong Pei for CNY 200 million on November 11, 2021. The total cash consideration will be paid within 30 days totaling CNY 102,058,425 and the remaining amount within 60 days after the approval of the board of directors. Prior to acquisition, Shanghai Bright holds 51%, Huitong County Juxin 27.05%, Huitong County Champagne 10.98%, Huitong County Jusheng 4.70% and Gong Pei 6.27% stake in Shanghai Xinfei Semiconductor. Post completion, Shanghai Xinfei Semiconductor will become wholly owned subsidiary of Shanghai Bright. The transaction will be funded from own funds of CNY 204,116,900. The total assets and net assets of Shanghai Xinfei Semiconductor as of June 30,2021, were CNY 77.05 million and CNY 56.27 million, respectively. The transaction has been reviewed and approved at the twentieth meeting of the second board of directors and the twentieth meeting of the second board of supervisors, and there is no need to submit it to the general meeting of shareholders for deliberation.
Shanghai Bright Power Semiconductor Co Ltd is a China-based company mainly engaged in the design, research, development and sales of power management driver chips. The Company's main products include light-emitting diode (LED) illumination drive chips, motor drive chips, alternate current (AC) / direct current (DC) power supply chips, DC / DC power chips, etc. The LED illumination drive chips include universal LED illumination drive chips and smart LED illumination drive chips. The AC / DC power management chip includes built-in AC / DC power supply chips and external AC / DC power supply chips and motor drive chips. Its products are mainly used in LED lighting industries, household appliances, electric tools, industrial servo, mobile phone fast charge, set-top boxes, routers, video surveillance, home care tools, servers, communication base stations and other fields. The Company mainly conducts its businesses in domestic and overseas markets.
Shanghai Bright Power Semiconductor Co., Ltd. agreed to acquire remaining 49% stake in Shanghai Xinfei Semiconductor Technology Co., Ltd. from Huitong County Juxin Enterprise Management Partnership (Limited Partnership), Huitong County Champagne Hill Enterprise Management Center (Limited Partnership), Huitong County Jusheng Enterprise Management Consulting Center and Gong Pei for CNY 200 million.