Trek Technology to acquire 20% stake in China Chips Star Semiconductors

The chip company recorded $4.44m in revenue with net assets of $4.11m.

Trek Technology will acquire a 20% stake in China Chips Star Semiconductors Co. Ltd. (CCSS) for a consideration of $2.09m.

This equates to 2,750,000 ordinary shares. Following the acquisition, Trek Technology may nominate representatives to the CCSS board, with no more than one-third of the directors.

Founded in 2022 and based in Shenzhen, with branches in Hong Kong and Nanjing, CCSS provides storage solutions, catering primarily to the telecommunications and electronics sectors in China. Despite being a relatively new company, CCSS has generated $4.44m in revenue and reported net assets of $4.11m as of 31 July.

This investment will enhance Trek Technology's market presence in China, aligning with its expansion plans.

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