Jiwei Network news, on February 24, Chuangyao Technology issued an announcement that the company intends to acquire 10.52% of the equity of Shanghai Lingyun Microelectronics Co., Ltd. for a consideration of 10 million yuan, and the company has not appointed directors and does not have control over its operation and management.
According to the disclosure, Shanghai Lingyun Microelectronics Co., Ltd. was established in September 2021; Lingyun Micro focuses on the field of digital-analog hybrid chips, developing high-performance high-speed interface chips and control chips for applications in the fields of vehicle and industrial interconnection. Based on a deep understanding of key technologies in analog, digital and algorithms, Lingyun Micro has built a high-speed digital-analog hybrid interface chip development platform, and strived to create a competitive high-speed interface chip for multiple market segments such as automotive and industrial interconnection. Lingyunwei is currently developing products for vehicle Ethernet transceivers, industrial and consumer Ethernet transceivers. At present, most of the market share is occupied by European and American enterprises, and the domestic supply space is huge. Ethernet transceivers are complex digital-analog hybrid chip systems that require specific and deep technical experience in digital, analog, and algorithmics. The core team of Lingyun Micro has more than 15 years of design and development experience in the fields of digital, analog and algorithm, and has experience in mass production of more than 100 million chips.
Based on the judgment of the value of Lingyunwei's investment, on February 24, 2022, after the deliberation and approval of the 18th meeting of the first board of directors and the 8th meeting of the 1st supervisory board, Chuangyao Technology plans to sign an investment agreement with Lingyunwei to acquire 10.52% of the shares of Lingyunwei for a consideration of 10 million yuan, and this investment does not involve the appointment of directors to Lingyunwei.
Chuangyao Technology said that Lingyun micro is the main business for high-speed digital-analog hybrid interface and control chip research and development and manufacturing production, and Chuangyao Technology's research and development direction has a synergistic effect, its Ethernet transceiver field products, and Chuangyao Technology's home gateway chips and other network communication products to form a complete solution, and in terms of product performance, power consumption, cost and other aspects to provide customers with more competitive, differentiated products, in line with the industrial investment philosophy adhered to by Chuangyao Technology.
The source of funds for this transaction is its own funds, and the investment scale is small, which will not have a significant adverse impact on the company's financial and operating conditions, and there is no harm to the interests of the company and all shareholders. Regarding whether lingyunwei will continue to invest in the future, it will depend on the specific situation of the follow-up business cooperation. (Proofreading/New)