On June 13th, Gelunhui reported that Shannon Semiconductor Technology Co., Ltd. (300475.SZ) has signed a joint venture agreement with Wuxi Xinlianpu Investment Partnership Enterprise (Limited Partnership) (hereinafter referred to as "Wuxi Xinlianpu", "Party B"), Wuxi Haipu Tongchuang Investment Partnership Enterprise (Limited Partnership) (hereinafter referred to as "Haipu Tongchuang", "Party C"), Jiangsu Ji Quan Jun Hai Rongxin Investment Partnership Enterprise (Limited Partnership) (hereinafter referred to as "Jun Hai Rongxin", "Party D"), Hainan Yin Song Investment Partnership Enterprise (Limited Partnership) (hereinafter referred to as "Yin Song Investment", "Party E"), Wuxi Xinzhu New District New Investment and Financing Smart Entrepreneurship Investment Partnership Enterprise (Limited Partnership) (hereinafter referred to as "New Investment and Financing", "Party F"), and Shenzhen Dapu Microelectronics Co., Ltd. (hereinafter referred to as "Dapu Micro", "Party G"). The company plans to jointly establish Wuxi Haipu Semiconductor Technology Co., Ltd. (tentative name, hereinafter referred to as "target company", subject to registration with the industrial and commercial registration department).
The registered capital of the target company is RMB 150 million, of which: the company contributes 30% equity of Shenzhen Haipu Storage Technology Co., Ltd. (hereinafter referred to as "Shenzhen Haipu") for RMB 9 million, accounting for 6% of the registered capital of the target company; and contributes RMB 52.5 million in cash, accounting for 35% of the registered capital of the target company; the total contribution is RMB 61.5 million, accounting for 41% of the registered capital of the target company. Based on the equity structure and board of directors arrangement of the target company, the target company will be included in the company's consolidated financial statements and become a subsidiary of the company.
The company's cooperation with various parties to establish the target company is mainly to expand the company's product line, extend the product chain, and improve the enterprise-level DRAM product line based on Shenzhen Haipu's business. Wuxi, as a key location for China's semiconductor industry chain, has rich resources in various aspects of the industry chain. The newly established target company will receive greater development support and industry synergy after landing in Wuxi.