CN INT DEV CORP (00264) announced on November 21, 2025, that it has entered into a non-binding memorandum of understanding with Xu Xichang (the seller). According to the agreement, the company intends to acquire up to 100% of the shares in Longteng Semiconductor Co., Ltd. (the target company), including the 24.81% stake directly held by the seller, who is the largest single shareholder and chairman of the target company. The seller has expressed willingness to facilitate negotiations for the acquisition of the remaining shares from other shareholders.
The proposed transaction is expected to be valued between HKD 4.5 billion and HKD 9 billion, subject to mutual agreement and final terms outlined in a definitive agreement. The valuation is based on factors including, but not limited to, the target company's latest financing valuation.
Longteng Semiconductor is a leading provider of power semiconductor devices and system solutions and serves as a key player in Shaanxi Province's semiconductor and integrated circuit industry chain. It is also recognized as a national-level "Little Giant" enterprise by China's Ministry of Industry and Information Technology.
CN INT DEV CORP has been actively seeking business expansion opportunities. Longteng Semiconductor operates as a full-industry-chain enterprise engaged in R&D, production, and sales of power semiconductors. While China is the world's largest consumer market for power semiconductors, accounting for nearly half of global demand, the localization rate of mid-to-high-end products remains relatively low.
The target company possesses a core team with both industry experience and capital market expertise, enabling it to effectively expand its market share in the power semiconductor sector. CN INT DEV CORP believes the proposed acquisition will further broaden its business scope.
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