TCL Technology's subsidiary plans to acquire a 10.77% stake in Shenzhen Huaxing Semiconductor for 6.045 billion yuan to further strengthen its core business.

News from the Securities Times APP, TCL Technology (000100.SZ) announced that its holding subsidiary TCL Huaxing Optoelectronics Technology Co., Ltd. ("TCL Huaxing") plans to acquire a 10.7656% stake in Shenzhen Huaxing Semiconductor Display Technology Co., Ltd. ("Shenzhen Huaxing Semiconductor") held by Shenzhen Major Industries Development Phase I Fund Co., Ltd. for a cash consideration of 6.045 billion yuan. After the completion of the transaction, the company's total stake in Shenzhen Huaxing Semiconductor will increase from 84.2105% to 94.9761%, and it is expected that the company's profitability will be effectively enhanced.