Hunan Sanan and STMicroelectronics' joint venture plan

Hunan Sanan and STMicroelectronics established a joint venture in Chongqing, AnYifa, with Hunan Sanan holding 51% and STMicroelectronics holding 49%. The joint venture will produce silicon carbide epitaxy and chips and sell them exclusively to STMicroelectronics. It is expected to be put into operation by the end of 2024 and gradually release production capacity in 2025.