Cnstock News APP reported that Shanghai Gentech (688596.SH) announced its intention to use its own funds of 0.336 billion yuan to acquire a total of 30.5032% equity stake from minority shareholders (LIU ERZHUANG, Tian Linlin, Hong Kong Fengge Co., Ltd., Xu Zhiyong, Jiehongye Co., Ltd., Zhang Xiaomei) in Honghe Semiconductor Equipment (Shanghai) Co., Ltd., increasing its direct shareholding from 60% to 90.5032% after the transaction.

Honghe Semiconductor mainly engages in the business of comprehensive semiconductor process equipment modules and subsystems. This transaction is based on Shanghai Gentech's high recognition of the value and good expectations for the future development of Honghe Semiconductor, aligning with the company's development strategy and overall development plan. After the completion of this transaction, the company's direct stake in Honghe Semiconductor will increase from 60% to 90.5032%, which, along with the enhanced future profitability of Honghe Semiconductor, will bring sustained positive impacts on the company's overall profitability and core competitiveness.