Shanghai Vital Deeptech Plans to Acquire Controlling Stake in Subsidiary via Capital Increase

Stock News07-01

Shanghai Vital Deeptech Co., Ltd. (ASX: 600641) has announced its intention to sign an investment agreement with Qingyuan Vital Special Materials Co., Ltd. and Guangdong Vital Microelectronics Technology Co., Ltd. (referred to as "Vital Microelectronics" or the "target company").

The agreement stipulates that the company will invest in Vital Microelectronics through a capital increase, acquiring more than 50% of the target company's equity to achieve a controlling stake.

Vital Microelectronics was established in September 2020 and primarily operates in the electronic materials business.

The company aims to integrate the target company's electronic materials operations through this acquisition, thereby further strengthening the overall profitability of the group.

Following the completion of the capital increase, Vital Microelectronics will be consolidated into the company's financial statements.

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