The State Administration for Market Regulation unconditionally approves the establishment of a joint venture between Guangzhou Huawang Semiconductor and Shanghai Fugiya.

On November 12, the State Administration for Market Regulation released the list of concentration cases unconditionally approved from October 27 to November 2, 2025, which includes the establishment of a joint venture between Guangzhou Huawang Semiconductor Technology Co., Ltd. and Fuyouya Automotive Seat Systems Co., Ltd. According to the public notice of concentration simple cases, Guangzhou Huawang Semiconductor Technology Co., Ltd. and Fuyouya Automotive Seat Systems Co., Ltd. have signed an agreement to jointly establish a new joint venture, which will mainly engage in the research and development, production, and sale of micro motors for automotive seats. After the transaction, Guangzhou Huawang will hold 55% of the shares in the joint venture, while Shanghai Fuyouya will hold 45% of the shares, and both parties will jointly control the joint venture.