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Zhongwei Semiconductor: Plans to Increase Capital Investment of 160 Million Yuan in Zhuhai Boya to Acquire 20% Equity Stake
The Beijing News Shell Finance reported that on March 22, Zhongwei Semiconductor announced that, based on strategic planning considerations and the company’s need to accelerate the development of its storage chip business, it plans to use 160 million yuan of its own funds to increase its investment in Zhuhai Boya Technology Co., Ltd. (referred to as “Zhuhai Boya”), subscribing to 12.5 million yuan of its new registered capital. The remaining 147.5 million yuan will be recorded as capital reserve. After the transaction is completed, the company will hold a 20% stake in Zhuhai Boya, becoming a shareholder.