Mei Ri Jing Ji Xin Wen·2025-12-30 22:37Core Viewpoint - The Chinese semiconductor investment firm Jian Guang Asset is forced to sell its 80.2% stake in FTDI due to a retrospective review initiated by the UK government under the National Security and Investment Act, citing national security risks [1]. Group 1: Company Background - Jian Guang Asset acquired 80.2% of FTDI for $414 million in December 2021, marking a strategic move into the high-end analog chip sector by Chinese capital [1]. - FTDI, established in 1992 and headquartered in Glasgow, UK, is a leading company in the global USB bridge chip market, serving over 50 countries with products across various sectors including consumer electronics and automotive [2]. Group 2: Investment Implications - The forced sale of FTDI's shares may occur at a price significantly lower than the company's true value, potentially leading to substantial losses for the company and its shareholders [1]. - The acquisition by Dian Lian Technology, which aimed to gain control over FTDI through its investment in Jian Guang Asset's funds, has not been implemented, although it holds a 21.17% stake in Feite Holdings, which controls FTDI [3]. Group 3: Legal and Regulatory Context - The UK government issued a formal order for FTDI to divest its shares due to national security concerns, reflecting a trend of increased scrutiny on foreign investments in sensitive sectors [3][4]. - Previous cases, such as the forced sale of Newport Wafer Fab by Wingtech Technology, indicate a growing regulatory environment affecting Chinese investments in the UK semiconductor industry [4].