Halo Micro(SH:688173) Ju Chao Zi Xun·2025-10-13 13:05Core Viewpoint - The company HMI has successfully gained control over Zinitix through a series of legal and corporate governance maneuvers, following a court ruling that supported HMI's request to convene a temporary shareholders' meeting for Zinitix [1][2][4]. Group 1: Legal Proceedings and Corporate Governance - On August 11, the Suwon District Court in South Korea ruled in favor of HMI, allowing it to convene a temporary shareholders' meeting for Zinitix [2]. - The shareholders' meeting held on September 29 resulted in the approval of two key resolutions: the election of a temporary chairman and the appointment of new directors, all nominated by HMI [2][3]. - Following the meeting, Zinitix's board is now entirely composed of HMI-appointed members, allowing the company to control a majority of the board seats [2][3]. Group 2: Management Control and Business Operations - Zinitix's former directors have transferred necessary management materials and documents to HMI, enabling the company to fully understand Zinitix's operational status and risks [3]. - HMI has effectively eliminated the risk of losing control over Zinitix, as it can now make significant decisions regarding management, personnel, and assets [3][5]. - Zinitix, a chip design firm listed on the KOSDAQ in South Korea, has established relationships with over 50 global smart device manufacturers and is part of Samsung Electronics' supply chain [3]. Group 3: Legal Issues and Allegations - HMI has identified alleged misconduct by former Zinitix personnel, including theft of trade secrets and breach of fiduciary duty, leading to their dismissal [4][5]. - Legal actions have been initiated against these individuals in both California, USA, and South Korea, with cases currently accepted but not yet heard in court [5].