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china's no. 1 mems sensor company goertek plans to list in hong kong

2024-09-15

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goertek co., ltd. is advancing its new strategy, and its subsidiary goertek microelectronics plans to list independently on the hong kong stock exchange.

according to mems consulting, on the evening of september 13, goertek (002241.sz) announced plans to spin off its holding subsidiary goertek microelectronics co., ltd. ("goertek micro") to achieve a separate listing on the main board of the hong kong stock exchange. after the spin-off, goertek's equity structure will remain stable and it will continue to retain its controlling position in goertek microelectronics.

goertek microelectronics (and its holding subsidiaries) is the only entity within the goertek group that focuses on the research and development, production and sales of mems (micro-electromechanical systems) devices and microsystem modules. in terms of equity allocation, goertek, as the main shareholder of goertek microelectronics, holds 87.75% of its shares.

china's no. 1 mems company restarts spin-off, having terminated its listing on the chinext in the first half of the year

the author has previously noticed that goertek has been planning to spin off and list goertek microelectronics for many years.

since 2021, goertek has been preparing for listing on the a-share gem. although it passed the review on october 19, 2022, it did not advance to the registration stage. until may 2024, goertek announced the suspension of goertek's listing plan. regarding this decision, goertek explained that in view of the current market environment and the overall consideration of capital operation, after in-depth discussions and prudent evaluations from multiple parties, the company decided to withdraw goertek's listing application on the gem and terminate the relevant spin-off process.