Huang Zewei agreed to acquire a 5% stake in Shannon Semiconductor Technology Co., Ltd. from Liu Xiang and Liu Jun for approximately CNY 450 million.

Huang Zewei agreed to acquire a 5% stake in Shannon Semiconductor Technology Co., Ltd. (SZSE:300475) from Liu Xiang and Liu Jun for approximately CNY 450 million on August 29, 2022. Under the terms, Huang Zewei will acquire 21,000,000 shares of Shannon Semiconductor. Post acquisition, Liu Xiang will hold 8.55% stake and Liu Jun will hold 0% stake in Shannon Semiconductor.