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Infineon plans to acquire 100% equity of China Hong Kong Power and invest in a wholly-owned subsidiary
Infineon Electronics (Hangzhou) Co., Ltd. recently announced that it had reached a "Share Purchase Framework Agreement" with 14 shareholders, including Nanjing Microchip Investment Management Partnership (Limited Partnership), Beijing Guotai Jiaze Venture Capital Center (Limited Partnership), and Suzhou Qingyan Automobile Industry Venture Capital Enterprise (Limited). The agreement involves the acquisition of 100% of the equity of China-Hong Kong Power, which is currently held by the transferor, through a cash payment.
China Hong Kong Power, established in 2013, specializes in manufacturing core components for new energy vehicles. Its clean energy vehicle products are extensively utilized in various models, including pure electric and hybrid passenger vehicles as well as pure electric commercial vehicles such as buses and special vehicles. These products have gained the trust and collaboration of leading global and domestic clean energy vehicle manufacturers like BAW New Energy, Dongfeng Nissan, Changan, and Jianghuai.
According to the terms of the agreement, Infineon will acquire the shares held by the transferor using cash. Post-completion of the transaction, Infineon will own 100% of China Hong Kong Power’s shares. Following initial negotiations, the estimated value of the underlying assets was provisionally set at 200 million yuan.
The transferor also committed to specific performance targets. During the profit commitment period—either 2017-2019 or 2018-2020, depending on when the transaction is finalized—the net profits for each year must reach at least 10 million, 14 million, and 20 million yuan respectively. Should the transaction conclude in 2018, the commitment period will shift to 2018-2020, with respective minimum net profits of 14 million, 20 million, and 21 million yuan.
Infineon expressed that acquiring full ownership of China-Hong Kong Power aligns with the company's strategy to accelerate its presence in the new energy vehicle sector, strengthening its core business while benefiting shareholders. Concurrently, Infineon announced plans to establish a wholly-owned subsidiary in Zhejiang Province’s Tonglu County, named Zhejiang Yingfei Special Energy Technology Co., Ltd. This new entity will focus on researching, developing, and producing electric vehicle charging stations, onboard charging products, and related electronic goods. Additionally, it will engage in the construction and operation of electric vehicle charging infrastructure.
With a registered capital of 10 million yuan, Infineon New Energy will operate as an independent entity within Infineon. This move aims to leverage Infineon's expertise in switching power supplies to enhance brand recognition and market competitiveness. Furthermore, it seeks to expand the company's operational scale, optimize its industrial structure, and ultimately fortify its position in the industry, ensuring long-term growth.
[Image: Logo of Infineon Technologies]
This strategic expansion reflects Infineon’s commitment to advancing sustainable technologies and meeting the growing demand for eco-friendly transportation solutions.