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Core Viewpoint - Chip Origin Co., Ltd. plans to invest over 950 million yuan to acquire control of Zhudian Semiconductor through a special purpose company, Tian Sui Xin Yuan Technology (Shanghai) Co., Ltd. [2][3] Group 1: Acquisition Details - The acquisition involves a cash payment of 930 million yuan plus transaction costs for 97.89% of Zhudian Semiconductor's shares, with the total equity value set at 950 million yuan [3][4] - After the transaction, Tian Sui Xin Yuan will hold 100% of Zhudian Semiconductor, which will be included in the consolidated financial statements of Chip Origin [3][4] - Chip Origin will contribute 40% of the investment, while joint investors will cover the remaining 60% [3][4] Group 2: Financial Performance of Zhudian Semiconductor - In 2024, Zhudian Semiconductor reported revenues of approximately 385 million yuan and a net loss of 121 million yuan; in the first half of 2025, revenues were about 110 million yuan with a net loss of approximately 64.06 million yuan [5] Group 3: Business Continuity and Integration - Post-acquisition, Zhudian Semiconductor will continue to sell its existing chip products and maintain its IP licensing and chip design business, ensuring no change to Chip Origin's business model [6] - The acquisition is expected to allow Chip Origin to integrate customer resources and provide a comprehensive service from IP to customized chips [7] Group 4: Stock Incentive Plan - Chip Origin announced a restricted stock incentive plan for 2025, proposing to grant up to 8.11625 million shares, representing about 1.54% of the total share capital [8][9] - The plan includes a first grant of up to 6.493 million shares, accounting for approximately 1.24% of the total share capital, with the remaining shares reserved for future grants [8][9] Group 5: Market Position - As of October 15, Chip Origin's stock closed at 170.83 yuan per share, with a total market capitalization of 89.8 billion yuan [10]