TongFu Microelectronics completes indirect investment in AAMI acquisition

TongFu Microelectronics announced the completion of its investment in a limited partnership, leading to indirect ownership of AAMI. The company had initially committed to acquiring a 31.90% stake in Chuzhou Guangtai for CNY 200,000,000 on October 16, 2024, followed by an additional CNY 15,000,000 investment in Jiaxing Jingyao on February 28, 2025. These investments were part of a broader acquisition by Zhizheng Co., Ltd.

As of the announcement date, Zhizheng Co., Ltd.'s acquisition of AAMI has been approved by the Shanghai Stock Exchange and registered with the China Securities Regulatory Commission. All property interests and related rights held by TongFu Microelectronics in Chuzhou Guangtai and Jiaxing Jingyao have been transferred to Zhizheng Co., Ltd. In return, TongFu Microelectronics has received 6,718,750 shares of Zhizheng Co., Ltd., valued at CNY 215,000,000 based on a share issue price of CNY 32.00 per share.

The company cautioned that future market, policy, and industry environment changes could impact Zhizheng Co., Ltd.'s operational performance, potentially affecting the value of TongFu Microelectronics' shares.