Chip Giant Unigroup to Transfer Linxens to Listed Arm

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING: AI Chipmaker Sunrise Doubles Valuation After Raising 2 Billion Yuan; Tencent Unveils Larger AI Model in Bid to Close Gap With Rivals; Z.AI Unveils Cheaper Model Running Entirely on Homegrown Chips

LATEST: Tencent Unveils Larger AI Model in Bid to Close Gap With Rivals; AI Chipmaker Sunrise Doubles Valuation After Raising 2 Billion Yuan; Analysis: Unitree Shares Slide as Investors Reassess Humanoid Robot Valuations; Baidu Shifts AI Agent Dumate Toward Industry-Specific Workflows; Z.AI Unveils Cheaper Model Running Entirely on Homegrown Chips; EHang Scraps Revenue Target in Wake of Fatal Aircraft Crash; XPeng to Raise $900 Million for Robotics Unit; China’s Advanced Chip Supply to Surge 46% Annually Through 2035, Goldman Says; Xiaomi Steps Up Chip Push With New Smartphone, AI and Self-Driving Processors; Alibaba’s $12 Billion Share Sale to Fund AI Push Sends Stock Lower; TikTok to Pay $400 Million to Settle U.S. Child Privacy Lawsuit; DeepSeek Enters the Multimodal AI Race with Experimental Vision Model; Alibaba’s Profit Plunges as E-Commerce Business Falters, AI Investment Jumps; YMTC Moves Closer to Shanghai IPO; Unitree Shares Decline as Founder Flags Limits of Humanoid Robots; AI Companies’ Success Lies in the Apps, Bain’s China Chairman Says; China’s LandSpace Recovers Booster in Reusable Rocket Breakthrough; Spacecom Raises $1.94 billion in Bet on China’s Starlink Rival; U.S. Appeals Court Orders Review of Pentagon’s DJI Designation; Unitree to Debut at 61 Billion Yuan Valuation in Closely Watched Shanghai IPO

By Qin Min and Han Wei / May 21, 2019 04:29 AM / Business & Tech

Photo: IC Photo

China’s top state chipmaker Tsinghua Unigroup Co. Ltd. is reshuffling subsidiaries to consolidate its semiconductor business into a listed arm.

Shenzhen-listed Unigroup Guoxin Microelectronics Co. Monday halted its share trading pending a major asset acquisition. Unigroup Guoxin said it plans to issue new shares to fully acquire Beijing Unigroup Liansheng Technology Co., a unit controlled by parent Unigroup.

The main asset of Unigroup Liansheng is Linxens, a French smart chip components maker that Unigroup acquired last year for a reported 2.2 billion euros ($2.6 billion). The Chinese company has yet to disclose the actual price of the deal.

A source close to Unigroup said the reshuffle is part of Unigroup’s efforts to consolidate its semiconductor assets into the listed arm to enhance business coordination.

Unigroup Guoxin reported 2.5 billion yuan ($360 million) of revenue in 2018, up 34% year on year. Net profit rose 24% to 348 million yuan.

Unigroup Guoxin hasn’t disclose detailed plans for the asset acquisition and said negotiations are still underway.

Share this article

Open WeChat and scan the QR code