GigaDevice Semiconductor to Set Up Subsidiary for 27 Million Yuan; Shares Down 4%

MT Newswires Live07-18

GigaDevice Semiconductor (SHA:603986) plans to invest 27 million yuan to establish a subsidiary, according to the company's filing on the Shanghai Stock Exchange.

The subsidiary, Beijing Qingyun Technology, will design and sell integrated circuits, the Thursday filing said.

The Chinese fabless supplier partnered with Beijing Qingyun Zhiling Enterprise Management Partnership (Limited Partnership), Beijing Qingyun Zhifan Enterprise Management Partnership (Limited Partnership) and Beijing Qingyun Zhikuo Enterprise Management Partnership (Limited Partnership) for the investment for the planned subsidiary.

Shares of the company dropped less than 4% in recent trade.

Price (RMB): Â¥92.37, Change: Â¥-3.63, Percent Change: -3.78%

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