The subsidiary of Forehope Electronic (688362.SH) plans to participate in the bidding for 100% equity of Ningbo Yuchang.

Forehope Electronic (688362.SH) announcement that Yao Shichanghai Construction Development Co., Ltd. (referred to as "Yuyao Changhai") has publicly listed for sale its 100% stake in Ningbo Yuchang Construction Development Co., Ltd. (referred to as "Ningbo Yuchang") at a transfer price of 486 million yuan. The company's controlling subsidiary, Yongxi Semiconductor (Ningbo) Co., Ltd. (referred to as "Yongxi Semiconductor"), plans to participate in the bidding for the target equity held by Yuyao Changhai. If the bidding is successful, Ningbo Yuchang will become a wholly-owned subsidiary of the company's controlling subsidiary and will be included in the company's consolidated financial statements. Yongxi Semiconductor, the company's controlling subsidiary, will no longer need to lease factory space as its daily operating premises, saving on long-term rental expenses for using Ningbo Yuchang's factory space.