Xi'an Peri Power Semiconductor Converting Technology (SHE:300831) entered a strategic framework agreement with controlling shareholder Xidian Institute.
Under the agreement, the two parties will co-develop medium- and high-voltage insulated gate bipolar transistor (IGBT) devices.
The company will manage packaging and testing, while Xidian Institute will handle chip design and production.
Shares of the power semiconductor device manufacturer closed 2% lower Wednesday.
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