If the objection to the equity transfer is accepted, the entry of Jilin State-owned Assets into JSMC may change

Zhitong
2025.07.13 11:34

The highly anticipated acquisition of a 1.6 billion yuan stake in Jilin Province State-owned Assets by ST Microelectronics has encountered a slight change. According to reports, former vice chairman of ST Microelectronics, Wang Yufeng, recently received a notice from the Shanghai Stock Exchange, stating that it will accept the objections raised by Wang Yufeng and his family regarding the transfer of ST Microelectronics shares. Previously, ST Microelectronics was penalized by regulatory authorities due to a 1.49 billion yuan fund occupation by its controlling shareholder, Shanghai Pengsheng Technology Industry Co., Ltd. According to relevant regulations of the Shanghai Stock Exchange, the deadline for ST Microelectronics to recover the aforementioned fund occupation is August 12, 2025. If the deadline is exceeded, it will face suspension of trading, and if it still fails to rectify within two months after the suspension, it will be delisted

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