Huaqin Technology Co., Ltd. (ASX: 03296) has announced a significant share purchase. The company's wholly-owned subsidiary, Huaqin Communications, executed an on-market transaction on the Hong Kong Stock Exchange on July 16, 2026.

The acquisition involved a total of 4,409,700 H shares of Nexchip Semiconductor Corporation (ASX: 688249). This represents approximately 0.20% of Nexchip's total issued share capital as of the announcement date.

The total consideration for the transaction was approximately HK$139 million, excluding associated transaction costs. This equates to an average price of about HK$31.55 per share.

Following the completion of this acquisition, the Huaqin group now holds approximately 10.20% of the total issued share capital of Nexchip Semiconductor Corporation.