Chang Chuan Tech to establish joint venture

Hangzhou Chang Chuan Technology announced its plan to establish a joint venture, Hangzhou Chang Yue Technology, with Shanghai Semiconductor Equipment Materials and Ben Jian Core Chain Equity Investment. The joint venture's registered capital will be CNY 100 million, with Chang Chuan Tech contributing CNY 50 million for a 50% stake. Shanghai Semiconductor Equipment Materials will contribute CNY 30 million for a 30% stake, and Ben Jian Core Chain will contribute CNY 20 million for the remaining 20%. The joint venture will focus on the research, development, production, sales, and service of high-end packaging and testing equipment. The aim of this investment is to enhance domestic integrated circuit equipment technology, expand Chang Chuan's product line, and enhance its core competitiveness. The company will fund its investment from its own capital or loans.