Shenzhen Gongjin Electronics to Invest 50 Million Yuan in Beijing Hongguang Xiangshang Technology

Stock News05-06

Shenzhen Gongjin Electronics Co.,Ltd. (603118.SH) announced plans to invest 50 million yuan of its own funds in Beijing Hongguang Xiangshang Technology Co., Ltd., a high-tech enterprise specializing in the design of new-generation silicon-based optoelectronic integrated chips. Of the total investment, 1.00144 million yuan will be allocated to newly increased registered capital, while the remaining 48.99856 million yuan will be recorded as capital reserve. The transaction, which involves an associated party transaction amount of 50 million yuan, will result in Shenzhen Gongjin Electronics acquiring a 7.0621% stake in Hongguang Xiangshang. Prior to this investment, the company held no equity in the target firm. The transaction does not involve any changes to the scope of consolidated financial statements. Hongguang Xiangshang has assembled an expert team in the field of silicon-based optoelectronics and has established a complete supply chain encompassing chip product design, foundry services, and packaging and testing. The signing of the Shareholder Agreement and Investment Agreement is expected to deepen the cooperative relationship between the two companies, enhance the market competitiveness of Shenzhen Gongjin Electronics' products, and support the company's long-term growth.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment