Hangxin Technology (300424.SZ) plans to acquire 51% of Shanghai Xinsheng's shares for 280 million yuan to 295 million yuan

According to Zhitong Finance App, Hangxin Technology (300424.SZ) announced that on September 18, 2026, the company signed an “Share Acquisition Intent Agreement” with the shareholders of Shanghai Xinsheng Electronics Co., Ltd. Shanghai Xinxian Investment Partnership (Limited Partnership), Shanghai Xinsheng Investment Partnership (Limited Partnership), Shanghai Xinsheng Investment Partnership (Limited Partnership), and Zhang Bing (Shanghai Xinsheng Real Controller). The company plans to acquire 51% of Shanghai Xinsheng's shares through a cash purchase. After the transaction is completed, Shanghai Xinsheng will become the company's holding subsidiary.

The overall valuation of the target company of this transaction is expected to be no more than 580 million yuan. The total consideration for this transaction is initially estimated at RMB 280 million to RMB 295 million, and the final transaction price is based on the assessed value. This transaction does not constitute a related transaction and is not expected to constitute a major asset restructuring.

The board of directors of the company believes that the target company's MCU products have been verified by the market for a long time, the technical indicators are mature and stable, and can directly target and replace similar imported core devices. The controlling interest in the target company of the acquisition is in line with the company's strategic transformation needs and helps to give full play to business synergy effects. If the acquisition is successfully completed, the target company will be incorporated into the company's consolidated reporting system to obtain sufficient capital to guarantee the target company's R&D, expansion of production scale, and market development.