Zhonglian Development Holdings (00264) plans to establish a strategic partnership with Priway

Zhitong Finance App News, Zhonglian Development Holdings (00264) announced that on January 6, 2026, the company signed a non-legally binding Memorandum of Understanding (Memorandum) with Priway Limited (partner). The company plans to establish a strategic partnership with the partner to share resources and discuss the establishment of an advanced power semiconductor technology research and development center (cooperation project) in Hong Kong.

The R&D center will be based in Hong Kong, facing the world, and will focus on becoming a highland of technological innovation in the field of third-generation power semiconductors. The R&D center will focus on wide-bandgap semiconductor technologies such as silicon carbide (SiC) and gallium nitride (GaN), build a complete R&D system from material research to system application, promote innovation in power electronics technology, and serve the global energy transition and green industry development. The R&D center will carry out systematic research and development around four core directions: first, product design, covering high-voltage high-frequency chip structure innovation, special device development, and advanced simulation modeling; second, testing and reliability, establishing an international standard test system to thoroughly study failure mechanisms and application scenario verification; third, application development to provide complete solutions covering topology, drive, and thermal management for key fields such as new energy vehicles and renewable energy; and fourth, advanced manufacturing technology, focusing on epitaxial growth, key process optimization and intelligent manufacturing cost control to build a complete technology chain from design to mass production.

The partner is a limited company incorporated in Hong Kong. It is a wholly-owned subsidiary of Longteng Semiconductor. Longteng Semiconductor is a leading provider of power semiconductor devices and system solutions, and the main enterprise in the key industrial chain (semiconductor and integrated circuit) chain in Shaanxi Province, China (it is also a “little giant” enterprise specialized in the Ministry of Industry and Information Technology).

Longteng Semiconductor and its subsidiaries are power semiconductor IDM companies mainly engaged in R&D and design, wafer manufacturing, module packaging, and testing applications. They focus on providing efficient, reliable, and cost-effective power devices and system solutions.

Through the cooperative project, the contracting parties intend to jointly establish a research team to carry out commercial cooperation under the premise of legality and compliance, achieve mutual benefit, and make full use of Longteng Semiconductor's experience and advantages in power semiconductor product design, process development, production and operation to jointly realize the cooperative project.

The Group has been actively seeking to expand the Group's business to diversify its business and expand into areas with potential for growth. The board of directors believes that the Memorandum of Understanding and the proposed cooperation projects under it are consistent with the Company's development strategy, that its terms are fair and reasonable, and that the cooperation project conforms to the overall interests of the Company and shareholders, and creates sustainable value for the Company's shareholders.