Shanghai Fullhan Microelectronics Co., Ltd. (SZSE:300613) agreed to acquire remaining 49% stake in Mouxin Technology (Shanghai) Co., Ltd. from Hai Feng Investment Holding Limited, Shanghai Lingxin Enterprise Management Center (Limited Partnership), Shanghai Shiqing Enterprise Management Center (Limited Partnership) and Yang Songtao on May 17, 2023. Under the terms, consideration will be paid in cash for CNY 51.73 per share and by issuance of shares. Transaction has been approved by Shanghai Fullhan Microelectronic's controlling shareholders and board and is subject to approval from Shareholders, Mouxin Technology's shareholders, Shenzhen Stock Exchange and CSRC. For the period March 2023, Mouxin Technology's had CNY 379.1852 million of total assets. As of February 5, 2024, the total consideration price is CNY 607,644,800 which will be paid by issuance of 4,179,535 shares, issuance of 1,588,223 convertible bonds and payment of CNY 290,000,000 cash.

Shen Jialin, Zou Xiaodong, Lu Xiaonan, Pan Peixian, Qi Changyue and Xu Kuangji of Huatai United Securities Co., Ltd. acted as independent financial advisor, BDO China SHU LUN PAN Certified Public Accountants LLP acted as accountant and Yang Zhenhua, Chen Fuan and Wang Anrong of King & Wood Mallesons, China acted as legal advisor to Shanghai Fullhan Microelectronics.