Xidiwei intends to acquire 100% equity of Shenzhen Chengxinwei Technology

There is another new case of mergers and acquisitions of domestic chip companies. On the evening of November 4, Xidiwei announced that the company is planning to purchase 100% of the shares of Shenzhen Chengxinwei Technology Co., Ltd. and raise supporting funds by issuing shares and paying cash. As the audit and evaluation work is in progress, it is not yet possible to determine whether this transaction constitutes a major asset reorganization. This transaction is not expected to result in a change in the actual controller of the company. In order to ensure fair information disclosure, safeguard the interests of investors, and avoid a major impact on the company's securities trading, the company's securities will be suspended from November 5, 2024, and the suspension is expected to last no more than 5 trading days.