Empyrean Technology (SHE:301269) will acquire an 11.2% stake in Wuxi Yake Hongyu Electronics through a 150 million yuan capital raise, according to a Shenzhen bourse filing on Tuesday.
The Chinese electronic design automation, or EDA, company's shares fell 2% during Wednesday's morning trade.
Yake Hongyu Electronics is a manufacturer of power electronic components.
The company will also indirectly acquire 4.5% of Yake Hongyu Electronics through Tianjin Zhongwan Xinsheng Management Consulting Partnership (Limited Partnership).
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