TCL Central: Holding subsidiary intends to acquire Xinxin Semiconductor by way of capital increase and share expansion

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36 Krypton learned that TCL Zhonghuan announced that the company’s holding subsidiary Zhonghuan Leading intends to acquire 100% of Xinxin Semiconductor’s equity by means of additional registered capital, realizing the complementary advantages of Zhonghuan Leading and Xinxin Semiconductor, and rapidly expanding silicon wafer production capacity. The newly increased registered capital of Zhonghuan Leading is 4.875 billion yuan. The shareholders of Xinxin Semiconductor subscribed for the newly increased registered capital of Zhonghuan Leading with their 100% equity of Xinxin Semiconductor. The transaction consideration is 7.757 billion yuan. After the transaction is completed, Xinxin Semiconductor Shareholders hold a total of 32.5% of Zhonghuan Leading. TCL Central also announced that it expects net profit in 2022 to be 6.6-7.1 billion yuan, a year-on-year increase of 63.79%-76.2%.
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