CHINA AEROSPACE: Aerospace Science and Technology Semiconductor has entered into a settlement agreement with Majié Suzhou and Yitengmai

According to the announcement from Aerospace Holdings (00031), the company has received a notification from Hangke Semiconductor that on October 2, 2025, Hangke Semiconductor entered into a settlement agreement regarding arbitration with the applicant Maji Technology (Suzhou) Co., Ltd. (Maji Suzhou) and its related parties, Intermec Technologies (S) Pte Ltd (Yitengmai) (collectively referred to as "the Applicants"). The main terms of the settlement agreement are outlined as follows:

1. Hangke Semiconductor shall pay USD 1.3154 million to Yitengmai within 5 working days after the effective date of the settlement agreement to repurchase the chips under the relevant main supply agreement. After payment, Yitengmai will ship the chips (returned chips) to Hangke Semiconductor at its own expense.

2. Maji Suzhou shall pay USD 398,900 to Hangke Semiconductor within 5 working days after the effective date to purchase the inventory and materials used for manufacturing the equipment under the relevant main supply agreement. After payment, Hangke Semiconductor will ship the inventory and materials to Maji Suzhou at its own expense.

3. Maji Suzhou shall pay accounts receivable of USD 816,500 to Hangke Semiconductor within 5 working days after the effective date.

4. To achieve mutual benefits, Maji Suzhou commits to placing and fulfilling certain orders with Hangke Semiconductor, either itself or by prompting its related parties, under certain ordering conditions for a period of 6 years starting from January 1, 2026, while Hangke Semiconductor also commits to providing rebates to Maji Suzhou in subsequent business dealings.

5. After Hangke Semiconductor and Maji Suzhou have made proper payments according to the aforementioned clauses 1, 2, and 3, the Applicants and Hangke Semiconductor shall immediately withdraw all their respective requests/counterclaims in the arbitration within 3 working days after the last payment is made. All obligations or liabilities arising from or related to quality disputes between the Applicants and Hangke Semiconductor shall be mutually exempted and permanently waived and abandoned.

6. Hangke Semiconductor and the Applicants shall bear their respective costs and expenses incurred in the arbitration, including attorney fees, fees paid to the arbitration committee (to be shared equally by the parties to the arbitration), and any other related costs and expenses