Breaking news! The proposed M&A restructuring plan of Hunan Goke Microelectronics Co., Ltd. (300672) has been terminated. The company had originally planned to acquire a 94.366% stake in SMIC (Ningbo) Co., Ltd. ("SMIC Ningbo") through a combination of share issuance and cash payment.
SMIC Ningbo specializes in RF front-end and MEMS sensor semiconductor technologies.
Regarding the termination, Hunan Goke Microelectronics stated that the parties involved failed to reach an agreement within the expected timeframe. After thorough discussions, negotiations, and careful consideration, the company decided to terminate the transaction out of prudence. The termination will not significantly impact the company's operations or financial condition, nor will it harm the interests of shareholders, including minority investors.
Financial data shows that in the first three quarters of the year, Hunan Goke Microelectronics reported revenue of approximately 1.172 billion yuan, a 2.5% year-on-year decline, while net profit attributable to shareholders plummeted 89.42% to 7.4054 million yuan.
