China Electronics Technology Group Corporation's subsidiary acquired 45.67% of SiChuang Electronics' shares and became the actual controller

SiChuang Electronics released a "Summary of the Acquisition Report". The summary mentioned that the purpose of this acquisition is to fully implement the overall requirements of the Party Central Committee and the State Council on deepening the adjustment of the layout of the state-owned economy, deepening the reform of state-owned assets and state-owned enterprises, and improving the modern enterprise system. With China Electronics Micro as a platform, it will accelerate the integration of resources, reconstruct the business system, optimize the business layout, deepen the reform of the organizational system and operating mechanism, and promote the "Physical Space Security and Smart Perception" sector of China Electronics Technology Group Corporation to become stronger, better and bigger.

It is reported that as early as March this year, the 38th Institute Director's Office decided to transfer the 45.67% of the shares of SiChuang Electronics held by the 38th Institute to Zhongdian Bowei free of charge. Subsequently, Zhongdian Bowei held a general manager's office meeting and agreed to accept the 45.67% of the shares of SiChuang Electronics held by the 38th Institute free of charge, and submitted the matter to the board of directors for deliberation.

On September 2 of the same year, China Electronics Technology Group Corporation issued the "China Electronics Technology Group Corporation's Reply on the Free Transfer of State-owned Shares of Anhui Sichuang Electronics Co., Ltd." (China Electronics Technology Group Corporation Letter [2019] No. 108). According to the relevant provisions of the "Regulations on the Supervision and Administration of State-owned Equity of Listed Companies" (State-owned Assets Supervision and Administration Commission, Ministry of Finance, China Securities Regulatory Commission Order No. 36) and other relevant regulations, China Electronics Technology Group Corporation agreed to transfer all 45.67% (72,700,012 shares) of Sichuang Electronics held by the 38th Institute to China Electronics Bowei for free.

According to the information, the business scope of China Electronics Bowei covers: research and development and services of radar detection, microwave imaging, communication and data fusion, reconnaissance interference and decoy systems and related electronic equipment; research and development and services of information countermeasure equipment; research and development and services of aerostat systems; integrated circuit design, manufacturing, packaging, testing and services; artificial intelligence and big data design and development; microsystems and hybrid microelectronics and related electronic packaging, metal casings, ceramic casings, electronic materials, low-temperature refrigeration and vacuum, low-temperature superconducting electronics, intelligent environmental control, microwaves and millimeter waves, optical fiber cables, optical fiber sensors, optoelectronic conversion, power supplies, special components product technology development, production, sales, testing and inspection; industrial electric kilns, surface treatment equipment, environmental protection engineering equipment, special optical cable equipment, unmanned driving equipment, robots, terahertz and millimeter wave technology products, intelligent equipment product technology development, production, sales, testing and inspection; system security integration services; technical research, technical consultation, technical services, technology transfer in the field of public security, etc.

After the completion of this acquisition, China Electronics Bowie will directly hold 72,700,012 shares of SITRONICS, accounting for 45.67% of the total share capital of SITRONICS; China Electronics Technology Group Corporation holds shares of SITRONICS through China Electronics Bowie and remains the actual controller of SITRONICS.

In the summary of the report, SiChuang Electronics pointed out: "This acquisition is conducive to streamlining the management hierarchy and management relationship of China Electronics Technology Group Corporation's platform company Zhongdian Bowei, listed company SiChuang Electronics and other subordinate units in the "Physical Space Security and Intelligent Perception" segment, and is conducive to the overall planning of the subsequent asset integration and capital operation of China Electronics Technology Group Corporation's "Physical Space Security and Intelligent Perception" segment."