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Thursday, 19 May 2022, 17:16 HKT/SGT

Source: HG Semiconductor Limited
HG Semiconductor Introduces New Strategic Investor
Further Enhancing Shareholding Structure and Financial Position
Set to Scale New Heights in Third-generation Semiconductor Business

HONG KONG, May 19, 2022 - (ACN Newswire) - HG Semiconductor Limited ("HG Semiconductor", together with its subsidiaries, "the Group"; stock code: 6908.HK) is pleased to announce the introduction of a new strategic investor, Wide Yield Investment Holding Limited ("Wide Yield Investment"), which supports the vision and expansion of the Group to building a world-class third-generation semiconductor industry chain platform.

Star Eagle Enterprises Limited disposed of 100,500,000 Shares (representing approximately 17.83% of the total issued shares of the Group) to Wide Yield Investment at the total consideration of HK$302,103,000. Upon completion, Wide Yield Investment and its ultimate beneficial owner has become a substantial shareholder of the Group.

The management of the Group is delighted to introduce Wide Yield Investment into HG Semiconductor as one of its major shareholders. The investment is a testament to the confidence of Wide Yield Investment in the Group's business strategies and prospects. Through strategic investor introduction, HG Semiconductor believes that its shareholding structure and financial position will be further strengthened, giving it a full play to develop and deepen its presence in gallium nitride (GaN) semiconductor sector. The Group will continue to build on its existing strengths, accelerating growth in its GaN semiconductor business, striving to generate continuous and stable returns for its shareholders in the long run.

About HG Semiconductor Limited
HG Semiconductor Limited (6908.HK) is principally engaged in semiconductor product business in China, including the design, development, manufacturing, subcontracting services and sales of light-emitting diode ("LED") beads, new generation of semiconductor gallium nitride ("GaN") chips, GaN components and related application products, as well as fast charging products. Leveraging its industry expertise in LED manufacturing, the Group is dedicated to accelerating its research and development and expansion in the application of GaN related products, with an aim to become a leading semiconductor company with the integration of design, manufacturing and sales of semiconductor chips, as well as providing total solutions with higher efficiency and competitive system cost.

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Topic: Press release summary
Source: HG Semiconductor Limited

Sectors: Electronics
From the Asia Corporate News Network

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