Parkland Plans to Acquire Majority Stake in Hualan Microelectronics
By Reporter Huang Sheng, Edited by Wen Duo
September 28 evening, Parkland (SH605303, stock price 23.68 yuan, market value 38.18 billion yuan) disclosed its "Issuance of Shares and Payment of Cash to Purchase Assets and Collect Matching Funds Plan". The company plans to acquire 93.5031% of the shares of Hangzhou Hualan Microelectronics Co., Ltd. (hereinafter referred to as "Hualan Microelectronics") through the issuance of shares and payment of cash, and issue shares to no more than 35 specific investors to collect matching funds. The company's shares will be suspended from trading on September 14, 2026, and will resume trading on September 29.
Parkland Plans to Acquire Majority Stake in Hualan Microelectronics
According to the plan, Parkland plans to acquire 93.5031% of Hualan Microelectronics' shares from Hangzhou Hualan Creative Enterprise Management Consulting Partnership (Limited Partnership) and 98 other Hualan Microelectronics shareholders. The issuance price for the acquisition of shares will be determined at 19.20 yuan per share, which will not be lower than 80% of the stock's average trading price over the past 120 trading days before the pricing benchmark date. As of the date of signing the plan, the audit, evaluation work related to this transaction has not been completed, and the transaction price of the target assets has not been determined. The final transaction price will be determined in reference to the evaluation value stated in the evaluation report issued by the asset evaluation institution, and will be disclosed in the reorganization report.
Hualan Microelectronics focuses on the research and development, design, and sales of domestic storage control chipsets and modules, as well as array controller chipsets and modules. Its products cover two major types: single-disk storage products and array storage products. The company mainly targets the computer hard disk market and hardware solutions for high-performance computing storage systems. Prior to this transaction, Parkland and its wholly-owned subsidiary Yunhe Technology held a combined 6.4969% stake in Hualan Microelectronics. After the completion of this transaction, Parkland will control Hualan Microelectronics, and its core business scope will expand to the field of storage control chipsets and array controller chipsets.
Parkland stated that this transaction will help the company's second main business develop strategically, establish new profit growth points, enhance profitability and anti-risk capabilities. This transaction is expected to constitute a major asset restructuring, and is expected not to constitute a related transaction, and is not expected to constitute a reorganization listing, which will not result in a change in the company's control.
This transaction still needs to go through multiple approval procedures, including the company's re-convening of the board of directors, shareholder meeting approval, Shanghai Stock Exchange review, and China Securities Regulatory Commission registration approval. The plan also points out multiple risks, including approval risks, risks of the transaction being temporarily suspended, cancelled, or terminated, risks of the audit and evaluation work not being completed, and the transaction price not being determined, as well as trade disputes risks, research and development risks, and cumulative un-remitted losses risks.
According to unaudited financial data, Hualan Microelectronics' net profit for the past two years was -1.99 billion yuan and -4804.83 million yuan, respectively, and its cumulative undistributed profits as of June 30, 2026, were -7.05 billion yuan.
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