Recently, Unigroup Guoxin Microelectronics (stock code: 002049) completed the update of its reply to the first round of inquiry letters from the Shenzhen Stock Exchange (SZSE) regarding the acquisition of WeEn Semiconductor. The company also intensively disclosed multiple documents, further publicizing the acquisition plan and the revenue progress of WeEn Semiconductor, indicating that the acquisition case has entered the later stage of the SZSE's review and inquiry. According to public information disclosure, the transaction of Unigroup Guoxin Microelectronics acquiring WeEn Semiconductor was initiated at the end of 2025, with the following core milestones:
December 2025: Unigroup Guoxin Microelectronics announced its plan to acquire a controlling stake or all equity of WeEn Semiconductor through issuing shares and paying cash; it has signed the "Letter of Intent for Acquisition" with Nanchang Jian'en, Beijing Guangmeng, and Tianjin Ruixin. May 2026: Unigroup Guoxin Microelectronics disclosed the restructuring report (draft), clarifying the transaction price at CNY 1.9 billion, of which the share consideration is CNY 1.52 billion and the cash consideration is CNY 380 million, with an issue price of CNY 61.75 per share. June-August 2026: The application documents for this transaction were accepted by the Shenzhen Stock Exchange and entered the review stage; the SZSE issued an inquiry letter, and Unigroup Guoxin Microelectronics completed the reply to the first round of inquiries and revised the declared documents.
September 2026: Unigroup Guoxin Microelectronics held the third meeting of the ninth Board of Directors, reviewing and approving the extended audit report, the pro forma review report, and the revised draft of the restructuring report. The audit base date was updated to June 30, 2026, with simultaneous updates to financial data, equity structure, risk warnings, and other contents.
Specifically, Unigroup Guoxin Microelectronics plans to acquire the 100% equity of WeEn Semiconductor held collectively by 14 counterparties, including Nanchang Jian'en, Beijing Guangmeng, Tianjin Ruixin, and Jianyin Huake, through issuing shares and paying cash. It also plans to issue shares to no more than 35 specific investors to raise matching funds. On the one hand, Unigroup Guoxin Microelectronics will pay CNY 1.52 billion by issuing shares, with the issue price adjusted to CNY 61.45 per share, issuing approximately 24.7355 million shares; on the other hand, it will pay CNY 380 million in cash. The total amount of matching funds raised will not exceed CNY 396 million, which will be used to pay the cash consideration for this transaction, intermediary agency fees, transaction taxes, and other M&A integration expenses.
Upon completion of the transaction, WeEn Semiconductor will become a wholly-owned subsidiary of Unigroup Guoxin Microelectronics and be included in the consolidated financial statements. Unigroup Guoxin Microelectronics stated that this transaction constitutes a connected transaction, does not constitute a major asset restructuring or a backdoor listing, and still requires the approval of the SZSE and the registration approval of the China Securities Regulatory Commission (CSRC).
Unigroup Guoxin Microelectronics also disclosed the "Audit Report on the Financial Statements of WeEn Semiconductor Technology Co., Ltd." The document revealed that in the first half of 2026, the total revenue of WeEn Semiconductor was approximately CNY 473 million, of which the revenue from SiC diodes was approximately CNY 78 million.
Currently, WeEn Semiconductor owns two wafer fabs, namely Jilin RuiNeng and WeEn Beijing, as well as the WeEn Shanghai module packaging and testing factory. Among them, the Beijing wafer fab was completed and put into production at the end of June 2026, with the first phase designed capacity of 250,000 6-inch wafers per year. The Jinshan module packaging and testing factory mainly produces module products and single-device packaging and testing. The output is counted according to the number of packaged power device products or modules, with a capacity of 66.6 million power device products per year and 1.42 million module products per year.
The main products sold by WeEn Semiconductor are thyristors, power diodes, and silicon carbide (SiC) devices (mainly SiC diodes), which cumulatively account for more than 90% of its revenue. In the first half of 2026, its SiC device sales volume reached 26.7486 million units.
Currently, the end customers of WeEn Semiconductor cover fields such as consumer electronics, industrial manufacturing, new energy, and automotive. Among them, users in the consumer electronics field include Whirlpool, Gree, Midea, Haier, Little Swan, etc.; users in the industrial manufacturing and new energy fields include communication equipment manufacturers and Delta Electronics, Mean Well, Megmeet, Lite-On Technology, etc.; users in the automotive electronics field include UUGreenPower, TVS, BAJAJ, etc. Unigroup Guoxin Microelectronics is one of the leading comprehensive IC (Integrated Circuit) listed companies in China. With special ICs and smart security chips as its two main businesses, it also expands its presence in fields such as quartz crystal frequency devices, providing chips, system solutions, and terminal products for multiple industries including mobile communications, finance, government affairs, automotive, industrial, and IoT (Internet of Things).
Regarding this acquisition, Unigroup Guoxin Microelectronics stated that prior to this transaction, they already had a certain level of technology reserves and market applications in the power semiconductor segment. Through this transaction, Unigroup Guoxin Microelectronics can integrate its power semiconductor product matrix, quickly make up for the manufacturing segment, improve the layout of the semiconductor industry chain, further consolidate its existing advantageous position in the industry, and enhance the company's comprehensive competitiveness in the semiconductor industry.
At the product level, the power semiconductor product matrix of Unigroup Guoxin Microelectronics will be significantly expanded. Based on the existing silicon-based MOSFETs and IGBTs, new products such as thyristors, power diodes, SiC diodes, SiC MOSFETs, and power modules will be added to build a more diverse product system that covers multiple materials and full voltage levels.
At the level of technology and production synergy, Unigroup Guoxin Microelectronics' existing power semiconductor business adopts an asset-light Fabless operation model, with a core focus on front-end design and R&D, while wafer manufacturing and packaging and testing are entirely completed by foundries. WeEn Semiconductor mainly adopts the IDM (Integrated Device Manufacturing) model and possesses partial wafer manufacturing and power module packaging and testing capabilities. Upon completion of this transaction, both parties can achieve complementary advantages in business models and realize production synergy by sharing internal and external wafer manufacturing resources.