BOE Technology Acquires 10% Stake in Beijing Electric Control IC For 2 Billion Yuan

MT Newswires Live11-18

BOE Technology Group (SHE:000725, SHE:200725) will acquire a 10% stake in Chinese chipmaker Beijing Electric Control Integrated Circuit Manufacturing for 2 billion yuan.

The company, through its subsidiary Tianjin BOE Innovation Investment, will take part in Beijing Electric Control IC's capital increase.

Beijing Electric Control IC's capital will increase to 20 billion yuan from 10 million yuan after the transaction.

The target company will use part of the proceeds to build a 12-inch integrated circuit factory, the filing added.

The project, worth 33 billion yuan, will be launched this year. Equipment will be moved in during the fourth quarter of 2025, with mass production expected to be achieved by the end of 2026, and full production in 2030, the Chinese electronic components producer said.

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