Nanochip successfully acquires shares of Magtron to strengthen magnetic sensor business

Nanochip announced that it has successfully acquired 31.72% of MagnTek's shares and acquired 68.28% of MagnTek's shares through other means, and directly and indirectly holds 100% of MagnTek's shares. This acquisition will help Nanochip enrich its magnetic sensor product line, improve its technical strength, and enhance its competitiveness in the fields of automobiles, industrial control, robotics, etc.