Times Electric Joins Forces with Tsinghua Affiliates, China Southern Power Grid Entities, and a National Lab to Establish a Semiconductor Joint Venture

M&A · Partnership
โดย 中国基金报·Read original
Summary · why it matters

Times Semiconductor, a subsidiary of Times Electric, has partnered with five parties including the Beijing Huairou Laboratory, Huakong Technology Transfer Company Limited, and the China Southern Power Grid New Power System Research Institute to jointly invest 287 million yuan in establishing Beijing CRRC Times Huairou Semiconductor Company Limited. Times Semiconductor contributed 192 million yuan in cash for a 67 percent stake, achieving absolute control. The Beijing Huairou Laboratory, Huakong Technology Transfer Company Limited, and the China Southern Power Grid New Power System Research Institute contributed intangible assets for stakes of 22.50 percent, 6.00 percent, and 1.50 percent respectively, subject to the completion of intellectual property transfers and ownership certificate changes. The joint venture's board of directors consists of three members, with Times Electric recommending two, the Beijing Huairou Laboratory recommending one, and the chairman recommended by the Beijing Huairou Laboratory. This collaboration aims to deepen IGCT technology, expand the product portfolio and application areas, and enhance the core competitiveness of the semiconductor industry. As of December 31, 2025, Times Semiconductor had total assets of 18.083 billion yuan, net assets of 11.757 billion yuan, operating revenue of 5.532 billion yuan, and net profit of 926 million yuan.

Impact on stocks 1

Others▲ · 1 stocks

Theme Impact 1

Off-coverage companies 3

株洲中车时代半导体股份有限公司Private▲ Positive
Capitalrelevance

Times Semiconductor contributes cash for 67% stake in new JV, deepening IGCT technology and enhancing competitiveness.

北京中车时代怀实半导体有限公司Private▲ Positive
Capitalrelevance

Newly established JV aims to expand semiconductor product portfolio and application areas.

华控技术转移有限公司Private± Mixed
Capitalrelevance

Huakong Technology Transfer contributes intangible assets for a 6% stake, but impact is unclear.

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