Sunway Communication: Plans to acquire a 55% equity stake in a participating company and increase capital to accelerate its high-end MLCC business development

SVI Communication Co., Ltd. announced that, to further meet the demand of rapidly growing global customers for high-end MLCC products, its wholly owned subsidiary, SVI Communication (Yiyang) Co., Ltd., plans to acquire 55% of the equity interest in Yiyang Electronic Technology by paying cash. After completion of this acquisition, the company’s wholly owned subsidiary is expected to directly hold an equity interest of 70% in the target company and obtain control over it. The company’s board of directors has approved moving forward with this equity acquisition using its own funds or funds raised, not exceeding 1.1 billion yuan.
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