HUAQIN (03296) announced the completion of its acquisition of a 5% equity stake in Nexchip Semiconductor Corporation (688249). The company, along with its wholly-owned subsidiary Hefei Qinhe, entered into a share transfer agreement with Powerchip Venture Capital on April 28, 2026. Based on a long-term investment value assessment of Nexchip, Hefei Qinhe conditionally agreed to purchase, and Powerchip Venture Capital conditionally agreed to sell, 100.4 million target shares, representing approximately 5.0% of Nexchip's total issued share capital as of the announcement date. The total cash consideration for the transaction is RMB 2.651 billion, equivalent to RMB 26.41 per target share. Hefei Qinhe and Powerchip Venture Capital have recently obtained the "Securities Transfer Registration Confirmation" issued by China Securities Depository and Clearing Corporation Limited. The share transfer registration procedures for the target shares have been completed, with the share transfer registration date being May 19, 2026. Prior to this acquisition, HUAQIN directly held 120 million shares of Nexchip, equivalent to 6.00% of its total issued share capital. Following the completion of the acquisition, HUAQIN's direct shareholding in Nexchip remains unchanged, while Hefei Qinhe now holds 100.4 million shares of Nexchip, equivalent to 5.00% of its total issued share capital. Consequently, upon completion of the acquisition, the HUAQIN group holds a total of 220.7 million shares in Nexchip Semiconductor Corporation, representing 11.00% of its total issued share capital.