Shenzhen MinDe Electronics Technology (300656.SZ) intends to participate in the bidding for a 4.918% stake in Guanxin Microelectronics in order to acquire controlling ownership.

Shenzhen MinDe Electronics Technology (300656.SZ) announced that the company plans to use its own/self-raised funds to participate in the bidding for 4.9180% equity of Zhejiang Guangxin Microelectronics Co., Ltd. (referred to as "Guangxin Microelectronics") held by Lishui Green Industry Development Fund Limited Company (referred to as "Lishui Green Fund"), with a starting price of 35.5 million yuan. If the transaction is successfully implemented, the company will hold a 50.1% stake in Guangxin Microelectronics, making it a subsidiary of the company. The announcement stated that Guangxin Microelectronics' main business is high-end specialty semiconductor wafer foundry, and the planned Phase I has an annual production capacity of 1.2 million 6-inch silicon-based wafer foundry. The company started to acquire part of Guangxin Microelectronics' equity held by Lishui Green Fund and Lishui High-quality Fund at the beginning of the year, with the transfer agreements of 9.8361% equity with Lishui Green Fund and 0.9197% equity with Lishui High-quality Fund already signed and completed. The company will participate in the acquisition of 4.9180% equity of Lishui Green Fund through the bidding process; after the completion of the above-mentioned equity transfer transactions, the company will hold a 50.1% stake in Guangxin Microelectronics, making it a subsidiary of the company and included in the company's consolidated financial statements, with wafer foundry services becoming one of the company's core businesses.