Xinwei Communications announced that the company plans to acquire 55% of the shares of the participating company Xinwei Electronic Technology Co., Ltd. through its wholly-owned subsidiary Xinwei Communications Co., Ltd. After the acquisition is completed, the shareholding ratio of the wholly-owned subsidiary is expected to increase to 70% and gain control. The parties also agreed on subsequent capital increases. Since Haorong Electronics Executive Partner Peng Yufei is a director of the company, this matter constitutes a related matter, but it does not constitute a major asset restructuring. The board of directors agreed to advance the acquisition with no more than 1.1 billion yuan of its own or self-funded funds. Related directors Peng Hao and Peng Yufei avoided voting, and the bill passed with 7 votes in agreement.

Xinwei Communications announced that the company plans to acquire 55% of the shares of the participating company Xinwei Electronic Technology Co., Ltd. through its wholly-owned subsidiary Xinwei Communications Co., Ltd. After the acquisition is completed, the shareholding ratio of the wholly-owned subsidiary is expected to increase to 70% and gain control. The parties also agreed on subsequent capital increases. Since Haorong Electronics Executive Partner Peng Yufei is a director of the company, this matter constitutes a related matter, but it does not constitute a major asset restructuring. The board of directors agreed to advance the acquisition with no more than 1.1 billion yuan of its own or self-funded funds. Related directors Peng Hao and Peng Yufei avoided voting, and the bill passed with 7 votes in agreement.