SMIC: Intends to acquire 56.24% equity of Zhan Cheng Technology for 157 million yuan.

Sai Microelectronics announced that the company plans to acquire 56.24% equity of Qingdao Zhancheng Technology Co., Ltd. for 157 million yuan. After the transaction is completed, the company will hold a total of 61.00% equity of Zhancheng Technology, making Zhancheng Technology a subsidiary of the company. Zhancheng Technology was founded in May 2002 and specializes in IC design services and EDA software development.