Shenzhen Newway Photomask Making Co., Ltd (SHSE:688401) agreed to acquire an additional 24.60% stake in Chengdu Newway Optoelectronics Co., Ltd. from Chengdu Hi-Tech Investment Group Co.,Ltd. for approximately CNY 130 billion on May 30, 2024. A cash consideration will be paid by Shenzhen Newway Photomask Making Co., Ltd. As part of consideration, an undisclosed value is paid towards common equity of Chengdu Newway Optoelectronics Co., Ltd. Upon completion, Shenzhen Newway Photomask Making Co., Ltd will own 75.60% stake in Chengdu Newway Optoelectronics Co., Ltd. The transaction is subject to approval of offer by acquirer board and approval of offer by target shareholders. The deal has been approved by the board.