Qualcomm(US:QCOM) Nan Fang Du Shi Bao·2025-10-10 11:10Core Viewpoint - Qualcomm's acquisition of Autotalks is under investigation by China's market regulatory authority for failing to legally declare the concentration of operators, potentially violating the Anti-Monopoly Law of the People's Republic of China [2][3]. Group 1: Acquisition Details - Qualcomm announced the acquisition of Autotalks on May 8, 2023, but did not disclose the transaction price at that time [2]. - The acquisition raised concerns among multiple countries' antitrust regulatory bodies, leading to a temporary halt due to regulatory delays [2]. - The UK's Competition and Markets Authority (CMA) is investigating whether the acquisition would harm competition in the UK market [2]. Group 2: Regulatory Framework - According to the State Council's regulations on the declaration standards for operator concentration, companies must declare if their combined global revenue exceeds 12 billion RMB, with at least two companies having revenue over 800 million RMB in China [4]. - If the combined revenue in China exceeds 4 billion RMB, with at least two companies having revenue over 800 million RMB, a declaration is also required [4]. Group 3: Potential Implications - The State Council's antitrust enforcement agency can require a declaration even if the concentration does not meet the specified standards if there is evidence of potential anti-competitive effects [5]. - If the concentration is found to have anti-competitive effects, penalties may include a fine of up to 10% of the previous year's sales or less than 5 million RMB if no such effects are found [5]. - Experts suggest that if Qualcomm exclusively acquires Autotalks' V2X technology, it could negatively impact the related technology market and the smart automotive chip market [5].