FINWIRES · TerminalLIVE
FINWIRES

Pateo Connect Technology to Acquire 70% Interest in Communications Chip Company

By

Pateo Connect Technology (Shanghai) (HKG:2889) agreed to acquire 53.5 million shares, or a 70% stake, in Chengdu Meenyi Electronic Technology from six sellers for up to 1.4 billion yuan.

The target is an integrated circuit design enterprise specializing in the development of high-performance communication chips, according to a Friday filing. The sellers are Tianlang Electronic, Hainan Ruixin, Hainan Xunxin, Hainan Nuoling, Hainan Nuochuang and Tianlang SPV.

The acquisition will give the company the opportunity to further expand its capabilities in chips, optoelectronics, and AI servers.

Related Articles

Asia

Obayashi Profit Rises 116% in Fiscal Q1

Obayashi (TYO:1802) posted an 116% year-over-year increase in profit attributable to owners of the parent to 39.1 billion yen for the three months ended June 30 from 18.1 billion yen.The Japan-based construction company's basic earnings per share increased to 56.87 yen from 25.59 yen a year ago, according to a Tokyo Stock Exchange filing on Friday.Net sales jumped 19% to 623.4 billion yen from 523.8 billion yen in the year-ago period.For the fiscal year ending March 31, 2027, the company forecasts an attributable profit of 157 billion yen, a basic EPS of 228.39 yen, and net sales of 3 trillion yen.The company plans to pay a second quarter-end dividend of 47 yen per share for the current fiscal year.

TYO:1802
Asia

HMM Maintains Talks for Ultra-Long-Term Bulk Carrier Contracts

HMM (KRX:011200) is still in discussion with a counterparty to secure ultra-long-term contracts for bulk carriers, according to a Friday filing with the Korea Exchange.The disclosure is in response to a July 9 media report on the matter.The company will release another disclosure within three months or when specific details are finalized.Shares of the company rose more than 1% in recent trade.

KRX:011200
Asia

Southern Score Builders Arm Bags Order Worth MYR146.5 Million

SJEE Engineering, a subsidiary of Southern Score Builders Berhad (KLSE:SSB8), has secured an order worth 146.5 million ringgit from a local construction company to undertake a subcontract project, according to a Thursday filing with Bursa Malaysia.The company's shares were up nearly 2% in Friday's trade.The subcontract project is for Electrical Package 3 Works for a data center project, and is expected to be completed by Jan. 15, 2028.The project is expected to contribute positively to the net assets and earnings per share of the company from the financial year ending June 30, 2027, until the completion of the project.

KLSE:SSB8