JCET Group finalizes SanDisk semiconductor (Shanghai) acquisition payment

Jiangsu Changjiang Electronics Technology Co., Ltd. (JCET Group) announced the payment of the third and final installment for the acquisition of 80% equity in SanDisk Semiconductor (Shanghai) Co., Ltd. On September 27, 2025, JCET’s management company, the acquirer, and the seller, SanDisk China Limited, signed an "Amendment (I)" to the equity transfer agreement. This amendment stipulated a reduction in the acquisition price due to increased working capital requirements for SanDisk Semiconductor (Shanghai) stemming from changes in raw material procurement.

Following the agreed-upon adjustment, on September 29, 2025, the acquirer paid $27.4044m (tax inclusive) as the third acquisition installment, after a reduction of $10.0356m. This payment concludes the acquisition process, which saw prior payments of $26.219m (tax inclusive) on September 30, 2024, and $20.9735m (tax inclusive) on January 6, 2025.

The acquisition was initially approved on March 4, 2024, for approximately $624m. Regulatory approvals from the State Administration for Market Regulation and the Shanghai Minhang District Planning and Natural Resources Bureau were secured, and the target company's industrial and commercial registration changes were completed by September 24, 2024.