China Resources plans to acquire 22.54% of the shares of Changdian Technology, a leader in packaging and testing, becoming the latter's largest shareholder

According to the stock announcement of Changdian Technology, China Resources plans to acquire 22.54% of the shares of Changdian Technology, the leader in packaging and testing, through its subsidiary Panshi Hong Kong, becoming the largest shareholder of Changdian Technology and gaining control.

According to the agreement, the National Integrated Circuit Industry Investment Fund Co., Ltd. (the "Big Fund") and Core Semiconductor agreed to respectively transfer their holdings of Changdian Electronics Co., Ltd. at a price of 29 yuan per share. Technology's 9.74% and 12.79% shares were transferred to China Resources, with a total transfer price of 11.69 billion yuan.

After the transfer transaction is completed, the large fund will still hold 3.50% of the shares of Changdian Technology, and Core Semiconductor will no longer hold shares of Changdian Technology.

Inquiries on this site revealed that Core Semiconductor is an indirect wholly-owned subsidiary of SMIC.

Public information shows that Changdian Technology is the world's third largest OSAT (outsourced packaging and testing) manufacturer after ASE and Amkor. It achieved business of 8.257 billion yuan in the third quarter of 2023 Revenue and net profit attributable to shareholders were RMB 478 million.

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