Toread Sinks as Chinese Outdoor Sports Brand Unveils USD95.8 Million Takeover of Two Chip Firms
I'm PortAI, I can summarize articles.
Toread Holdings Group's shares fell 12.1% after announcing a USD95.8 million acquisition of controlling stakes in two chip companies, Betterlife Science and Technology and Tongtu Semiconductor Technology. This move aims to strengthen Toread's semiconductor business, complementing its existing operations and boosting competitiveness. Despite a 50% stock gain this year, Toread's core outdoor goods business has struggled, impacting net profit and revenue. The acquisitions will provide access to mature products, intellectual property, and R&D staff, enhancing Toread's growth in the semiconductor sector.
Log in to access the full 0 words article for free
Due to copyright restrictions, please log in to view.
Thank you for supporting legitimate content.
Source: Yicai The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments