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Shannon Semiconductor Technology Invests in AI Computing Company with Related Parties; Shares Up 5%

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Shannon Semiconductor Technology (SHE:300475) announced its acquisition of a 3% stake in Haiwei Zhisuan Jiangsu Technology for 150,000 yuan and will assume 2.9 million yuan in unpaid capital contribution obligations.

The move is part of a broader transaction where multiple investors will collectively acquire 29% of the artificial intelligence computing company from existing shareholder Su Xin, according to a Friday filing with the Shenzhen bourse.

Shannon Semiconductor produces washing machine gear clutches. Its shares rose 5% in recent trade.

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