Kingsemi: Controlling stake transfer to NAURA progresses

Kingsemi (SSE:688037) announced that its shareholders, Shenyang Zhongke Tiansheng Automation Technology Co., Ltd., and Shenyang Advanced Manufacturing Technology Industry Co., Ltd. are in the process of transferring shares to Northern Microelectronics (NAURA). Zhongke Tiansheng has agreed to transfer 16,899,750 shares, or 8.41% of Kingsemi's total equity, to NAURA at a price of CNY 85.71 per share, totaling CNY 1,448,477,572.50. Shenyang Advanced Manufacturing is selling 19,064,915 shares, representing 9.49% of equity to NAURA for CNY 88.48 per share. Completion of both transfers would give NAURA a 17.90% stake, making it the largest shareholder, and enable it to seek control through a board restructuring. The transfer is pending regulatory approvals and Shanghai Stock Exchange compliance confirmation. There's uncertainty regarding NAURA successfully securing control through board changes.