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: EV-Maker Arcfox and Huawei Launch Urban Navigation System for Shanghai Drivers

LATEST: EV-Maker Arcfox and Huawei Launch Urban Navigation System for Shanghai Drivers; Cover Story: China’s Drive to Kick the Foreign IT Habit; Hype Is Hurting Consumer Interest in Self-Driving Vehicles, Executive Says; India’s Market Allure Comes With Host of Challenges for Foxconn, Analysts Say; Jack Ma Resigns as President of General Association of Zhejiang Entrepreneurs; China’s EV-Makers Race to Secure Orders Before Subsidies End; CATL Sets Up Subsidiary to Take Advantage of China’s Push to Electrify Ships; XPeng Warns of Quarterly Sales Crash as Losses Widen; Meituan Posts Surprise Profit Soon After Tencent Announces Exit; Chipmaker Gets Go Ahead for $1.7 Billion Shanghai IPO; Bosch Opens Shanghai R&D; Center to Take On Chinese Heavyweights in Autonomous Driving; TuSimple Tells SEC It Can’t Report Earnings on Time; Top Tencent Investor Naspers Considers Selling Meituan Shares; Chinese EV Startup Cuts Salaries Amid Ballooning Losses, Sources Say; Tencent Wins New Game License After 17-Month Drought; Former TuSimple Chairman Retakes the Wheel After Leadership Reshuffle; Tencent to Give $20 Billion Meituan Stake to Shareholders; In Depth: Rival Ride-Hailing Apps Challenge Didi in World’s Biggest Market; Tesla Cooperating With Investigators After Fatal Runaway Car Crash; China’s 5G Services Need an Upgrade as Popularity Slips, Ericsson Exec Says

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