Core Viewpoint - The company has decided to terminate the acquisition of Zhongxin Ningbo, but it will continue to seek strategic merger and acquisition opportunities in the future, indicating that the short-term impact on operations is limited [1] Group 1: Company Operations - The company states that its production and operational status remains normal despite the termination of the acquisition [1] - The decision to terminate the transaction was made after careful consideration and communication with the counterpart [1] Group 2: Strategic Direction - The company emphasizes a dual-driven strategy of "internal growth + external expansion," focusing on its core business and emerging sectors [1] - Future efforts will include seeking external acquisition opportunities that align with policy encouragement, reasonable valuations, and high strategic synergy [1]

Core Viewpoint - The acquisition of a stake in Star Semiconductor by Landun Optoelectronics was terminated due to considerations of the company's situation and the status of Star Semiconductor, aiming to control investment and protect the interests of all shareholders, especially minority shareholders [1][4]. Summary by Sections Transaction Details - Landun Optoelectronics announced the termination of a cash transaction worth 80 million yuan to acquire a 3.4783% stake in Star Semiconductor, which was initially planned to be executed in two payments of 30 million yuan and 50 million yuan [1][4]. - The acquisition was intended to enhance the company's stake and promote business cooperation, particularly in the application of domestic baseband chips in the 5G FWA and satellite internet sectors [1]. Reasons for Termination - The termination was influenced by the significant decline in Landun Optoelectronics' performance, with a 21.33% year-on-year decrease in revenue and a net loss of 59.02 million yuan in the first three quarters of 2025 [4]. - Star Semiconductor also faced continuous losses, reporting a net loss of 337 million yuan in 2024 and 141 million yuan in the first half of 2025, which contributed to the decision to terminate the deal [4]. - Regulatory scrutiny regarding the relevance of the main businesses and the reasonableness of the transaction premium also played a role in the termination [4]. Market Context - The termination of this acquisition is part of a broader trend in the M&A market, where several significant transactions have recently failed, including a major merger between Zhongke Shuguang and Haiguang Information, which was intended to create a "national-level computing power aircraft carrier" [5]. - Recent M&A failures exhibit three main characteristics: increased valuation discrepancies, tightening financing conditions, and stricter regulatory scrutiny [6]. - Companies are shifting their focus from aggressive expansion to concentrating on core businesses and controlling operational risks, indicating a more rational adjustment phase in industry consolidation [7].

Core Viewpoint - The acquisition of Zhongxin Ningbo by Guoke Micro has been terminated due to the inability to reach consensus on related matters within the expected timeframe, prioritizing the long-term interests of the company and its investors [1][6]. Group 1: Announcement of Termination - Guoke Micro announced the termination of the acquisition of Zhongxin Ningbo on November 28, following the approval of the board and supervisory committee [1][5]. - The termination was formalized through a signed agreement with relevant parties, including Zhongxin International's wholly-owned subsidiary [5]. Group 2: Background of the Acquisition - The acquisition plan was initially announced on June 5, where Guoke Micro intended to purchase 94.366% of Zhongxin Ningbo's shares through a combination of stock issuance and cash payment [4]. - Guoke Micro had issued multiple progress announcements regarding the acquisition from July to October [4]. Group 3: Reasons for Termination - The termination was attributed to the inability to reach agreement on various aspects of the transaction despite efforts from all parties involved [6]. - The decision was made after thorough communication and consideration, emphasizing a cautious approach to protect the interests of the company and its investors [6]. Group 4: Expert Opinions - Experts had previously expressed skepticism about the acquisition, noting the lack of synergy between Guoke Micro, a fabless chip design company, and Zhongxin Ningbo, a foundry specializing in RF devices and MEMS [7]. - The differing focuses of the two companies raised concerns about the limited collaborative potential between digital chip design and analog chip foundry services [7].

Core Viewpoint - Hunan Guoke Microelectronics Co., Ltd. has decided to terminate the acquisition of 94.366% equity in SMIC Integrated Circuit (Ningbo) Co., Ltd. due to the inability to reach an agreement on related matters within the expected timeframe, emphasizing the company's commitment to safeguarding the long-term interests of shareholders and maintaining operational stability [2][4]. Group 1: Acquisition Termination - The termination of the acquisition reflects the company's prudent decision-making and responsibility towards shareholder interests, as the negotiations did not yield a consensus within the anticipated timeline [4]. - The company stated that the termination will not adversely affect its production operations or financial status, and it does not imply a complete abandonment of future restructuring efforts [2][4]. Group 2: Strategic Focus - Guoke Micro has been focusing on its long-term strategic layout, continuing to strengthen its core business in smart display and high-definition visual technology while exploring new markets in automotive electronics, AI, and IoT [6]. - The company has been implementing its "ALL IN AI" strategy, developing AI System-on-Chip (SoC) products that cater to various applications, including AIoT and industrial computing [6]. Group 3: Future Outlook - Despite the termination of the acquisition, Guoke Micro remains committed to seeking merger and acquisition opportunities that align with its strategic goals, leveraging policy support for "hard technology" companies to enhance competitiveness [7]. - The company aims to drive long-term healthy development through a dual approach of internal growth and external expansion, focusing on technology, market, and product integration opportunities [7].

Core Viewpoint - Guokemicro announced the termination of the acquisition of 94.366% equity in Zhongxin Ningbo due to the inability to reach an agreement within the expected timeframe, prioritizing the interests of the listed company and its investors [2] Group 1 - The decision to terminate the acquisition was approved by the board of directors, supervisory board, and independent directors of Guokemicro [2] - A network interactive briefing will be held on December 2 from 15:00 to 16:00 via the Shenzhen Stock Exchange's "Interactive Easy" platform to communicate the termination details with investors [2] - Guokemicro had disclosed the acquisition plan on June 5, intending to acquire Zhongxin Ningbo and raise supporting funds, with five subsequent progress updates [2] Group 2 - Guokemicro operates in the fabless digital chip design sector, while Zhongxin Ningbo is involved in RF devices and MEMS wafer foundry, indicating limited synergy between the two companies [2]

Core Viewpoint - SMIC announced the termination of the asset purchase agreement, indicating challenges in reaching consensus among the parties involved [1] Group 1 - On November 28, 2025, the parties involved signed a termination agreement for the asset purchase agreement [1] - Following the termination, SMIC Holdings retains a 14.832% stake in SMIC Ningbo [1] - The parties had been actively working towards the transaction since its announcement, but were unable to reach an agreement within the expected timeframe [1]

Core Viewpoint - The acquisition of 94.366% stake in Zhongxin Ningbo by Guokaiwei has been terminated due to the inability to reach an agreement within the expected timeframe, but this will not significantly impact the financial status of either party [1][2]. Group 1: Company Overview - Guokaiwei is a leading integrated circuit design company in China, focusing on ultra-high-definition smart displays and smart vision, and has become a key supplier of related chip solutions [2]. - Zhongxin Ningbo possesses unique advantages in special process fields, with 6-inch and 8-inch wafer manufacturing lines, currently in the capacity ramp-up phase [2]. Group 2: Impact of Termination - The termination of the acquisition will not disrupt Guokaiwei's established operational pace, as the company continues to focus on its "ALL IN AI" strategy and the development of AI SoC products [3]. - Guokaiwei has stated that the termination does not mean a complete abandonment of restructuring, and the company will continue to seek external acquisition opportunities that align with policy encouragement and strategic synergy [3]. Group 3: Market Context - Despite the overall increase in M&A activity in the A-share market this year, there have been over 50 cases of companies terminating major asset restructuring plans, indicating a trend of cautious adjustments in the market [3].

Core Viewpoint - SMIC announced the termination of the agreement for the sale of 94.366% equity in SMIC Ningbo to Hunan Guoke Microelectronics due to the inability to reach consensus within the expected timeframe [1] Group 1 - The transaction was intended to involve Hunan Guoke purchasing a majority stake in SMIC Ningbo [1] - Following the termination, SMIC Holdings retains a 14.832% stake in SMIC Ningbo [1] - The termination of this transaction is not expected to have a significant impact on the company's financial condition [1]

Core Viewpoint - Semiconductor Manufacturing International Corporation (SMIC) announced the termination of a transaction involving the sale of a 94.366% stake in its subsidiary, SMIC Ningbo, to Hunan Guoke Microelectronics Co., Ltd. [1] Group 1: Transaction Details - SMIC's wholly-owned subsidiary, SMIC Holdings, and other shareholders of SMIC Ningbo signed an agreement with Guoke Microelectronics to sell the stake [1] - The transaction included a cash payment and share issuance by Guoke Microelectronics [1] - Following the announcement, the parties involved actively worked towards completing the transaction, but ultimately decided to terminate it due to an inability to reach consensus on related matters [1] Group 2: Post-Transaction Status - As of November 28, 2025, the parties signed a termination agreement, and SMIC Holdings retains a 14.832% stake in SMIC Ningbo after the transaction's cancellation [1]

Transaction Background - The original transaction plan involved a share purchase agreement signed on June 5, 2025, between SMIC Holdings, a wholly-owned subsidiary of SMIC, and Guokewai (300672.SZ), where Guokewai intended to acquire 94.366% of the shares of SMIC Ningbo through a combination of issuing shares and cash payments [1] - SMIC Holdings was set to sell its 14.832% stake in SMIC Ningbo [1] Termination Details - The termination agreement was signed by all parties on November 28, 2025 [1] - The reason for termination was that the parties could not reach an agreement on transaction-related matters within the expected timeframe [1] - Following the termination, SMIC Holdings retains its 14.832% stake in SMIC Ningbo [1] Impact Assessment - The termination of the transaction will not affect the normal production and operations of the company [1] - There will be no significant impact on the company's financial condition as a result of this termination [1] - The termination does not harm the interests of the company or minority shareholders [1]