According to a report from Zhitong Finance APP, Netac Technology (300042.SZ) announced that in December 2022, the company established a joint venture with Zhengyuanxin Semiconductors (Shenzhen) Co., Ltd. ("Zhengyuanxin") to set up Shaoxing Langzheng Data Semiconductors Co., Ltd. ("Shaoxing Langzheng") and cooperate in building a storage chip packaging and testing factory. In September 2023, Zhengyuanxin transferred all its 45% equity stake in Shaoxing Langzheng to Shaoxing Chuanxin Source Technology Co., Ltd. ("Chuanxin Source").

Due to insufficient orders, Shaoxing Langzheng has had low revenue and continuous losses since its establishment, and the company has encountered disagreements with the joint venture partner Chuanxin Source on the operation and investment matters of Shaoxing Langzheng. In order to effectively safeguard the interests of the company and all shareholders, the company, taking into account the industry's development situation, has decided to close Shaoxing Langzheng.