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Following the renaming from "新華聯" to "盈新發展" in June of this year, the company has taken new steps by planning to acquire a controlling stake in a semiconductor company. On the evening of October 21, Winnovation announced its intention to acquire an 81.8091% stake in Guangdong Changxing Semiconductor Technology Co., Ltd. (hereinafter referred to as Changxing Semiconductor).

Notably, Winnovation's stock price has hit the daily limit on both Monday and Tuesday of this week. As of October 21, the stock closed at 1.98 yuan per share, with a market capitalization of 11.6 billion yuan.

Winnovation Plans to Control Changxing Semiconductor Strategic Focus on "Cultural Tourism + Technology" On the evening of October 21, Winnovation announced that it had signed a "Share Acquisition Intent Agreement" with Guangdong Changxing Information Management Consulting Co., Ltd. and Zhang Zhiqiang, planning to acquire the total 81.8091% stake in Changxing Semiconductor through a cash payment. Upon completion of this transaction, the company expects to achieve control over Changxing Semiconductor.

Preliminary studies and assessments indicate that this transaction is not expected to constitute a major asset reorganization as defined by the "Measures for the Administration of Major Asset Restructuring of Listed Companies." The transaction does not involve the issuance of shares and will not lead to any change in the control of the company. Furthermore, it does not constitute a related transaction.

Established in November 2012, Changxing Semiconductor is a high-tech enterprise focusing on the packaging, testing of memory chips, and the manufacturing of storage modules. The company has developed an integrated business model for R&D, packaging, and testing, with wafer testing and repair technologies, and capabilities in eight-layer stacked die packaging, BGA, SiP, CSP, among other packaging technologies. It produces consumer-level NAND FLASH modules and DRAM memory modules. The company holds 76 valid patents, including 22 invention patents and 54 utility model patents, and is recognized as a national high-tech enterprise and a "little giant" enterprise specialized in innovation in Guangdong province.

Winnovation indicated that the signing of this agreement aligns with its business development needs and its strategic focus on "cultural tourism + technology." This acquisition represents a combination of upgrading the company's traditional business and laying the groundwork for emerging industries, which will enhance the overall strength and competitiveness of the company.

The company emphasized that this is a letter of intent, and the final transaction arrangement for this share acquisition is subject to the completion of due diligence, auditing, evaluation, and further negotiations among the parties involved, subject to necessary decision-making and approval procedures, leading to the signing of a formal acquisition agreement.

Operating Performance Challenges Stock Price Surges 20.73% This Week It is worth noting that on June 25 of this year, "新華聯" officially changed its name to "Winnovation." The company stated that the name change corresponds with its development strategy, highlighting the importance of the Tongguanyao cultural park and enhancing the influence of its main business, while matching its name with its industry focus and development direction.

In recent years, the company has transitioned from traditional real estate to cultural tourism real estate and is now venturing into the semiconductor technology sector. However, the company has been struggling financially, posting consecutive losses. In 2024, it achieved a revenue of 3.043 billion yuan, a year-on-year decline of 21.47%, and a net profit attributable to shareholders of -533 million yuan. In the first half of 2025, the company's revenue stood at 772 million yuan, down 50.97%, with a net loss attributable to shareholders of -161 million yuan.

This week, Winnovation's stock has shown strong performance, with the stock hitting the daily limit on October 20th and 21st, climbing as much as 20.73% since the beginning of the week. However, the stock has exhibited a generally weak trend this year, down 9.59% since the start of the year; as of October 21, it closed at 1.98 yuan per share, with the latest total market capitalization at 11.6 billion yuan.

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