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Shanghai Bright Power to Acquire Chinese Charging Chip Maker for $457 Million

Summarized by NextFin AI
  • Shanghai Bright Power Semiconductor will acquire a 100% stake in Sichuan Yichong Technology for 3.28 billion yuan ($457 million), enhancing its product offerings.
  • The acquisition aims to broaden product lineup and improve competitiveness in the semiconductor industry.
  • The deal will be settled through a combination of cash and share issuance, as stated in a filing on the Shanghai Stock Exchange.

AsianFin -- Shanghai Bright Power Semiconductor said it will acquire a 100% stake in Sichuan Yichong Technology, a Chinese wireless charging chip maker, for 3.28 billion yuan ($457 million), aiming to broaden its product lineup and boost competitiveness.

The Shanghai-listed company said the deal with Yichong’s shareholders will be settled through a combination of cash and share issuance, according to a filing on the Shanghai Stock Exchange Tuesday.

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