APT Electronics announced that Guangzhou Tianze Jingxin Venture Investment Fund—where the company is a 40.12 % limited partner—will inject RMB449.60 million into AccoPower Semiconductor via a capital increase and pay RMB188.40 million for an equity transfer, bringing the total outlay to about RMB638.00 million.

Upon completion, Guangzhou Tianze will hold 9.58 % of AccoPower; APT Electronics’ indirect effective economic interest will be 3.84 %. The equity transfer covers 3.26 % of AccoPower’s pre-enlargement capital at RMB23.10 per share, while the capital increase adds 6.54 % of enlarged capital at RMB25.67 per share—1.51 % below the independent valuer’s benchmark price of RMB26.06.

AccoPower, a Guangdong-based SiC power semiconductor developer, booked a 2025 net loss of RMB187.30 million on revenue of RMB94.54 million (unaudited). Total assets stood at RMB954.55 million with net assets of RMB431.14 million. Following a recent share-swap, AccoPower will own 56.46 % of AscenPower Semiconductor, a SiC chip maker that recorded a 2025 net loss of RMB522.41 million on revenue of RMB64.52 million (unaudited).

The transaction is classified as both a discloseable and connected transaction under Hong Kong’s Listing Rules, given that key vendors and AccoPower are ultimately controlled by APT Electronics’ chairman Mr. Xiao Guowei. The deals therefore require independent shareholders’ approval. An extraordinary general meeting is scheduled for 9 June 2026 in Guangzhou.

Special rights for Guangzhou Tianze as a Series D investor include liquidation preference equal to 100 % of investment cost, anti-dilution protection, tag-along and redemption rights, plus the appointment of a non-voting board observer at AccoPower.

APT Electronics views the investment as a strategic move to extend from “endogenous development” to “extensional layout” in third-generation semiconductors, aiming to create synergies with its existing LED-based intelligent vision products for automotive and display applications.