June 1, 2021, Shanghai, China – Changdian Technology (SSE: 600584), the world’s leading integrated circuit manufacturer and technical service provider, announced today that it has officially completed the acquisition of Analog Devices Inc. (hereinafter referred to as “ADI”) The acquisition of the testing plant in Singapore, the testers of the plant will be gradually transferred to the production environment of Changdian Technology in the near future. Since Changdian Technology and ADI reached a strategic consensus to initiate the acquisition in December 2019, the two parties have actively promoted relevant work in accordance with the agreement, and successfully completed the acquisition as scheduled through regular joint meetings and close communication and running-in during the takeover process. While the good cooperative relationship between the two parties continues to deepen, the testing business of Changjiang Electronics Technology in Singapore has continued to expand, and the global operation layout has moved forward rapidly and steadily.

Congratulations, Changdian Technology! Completed the acquisition of ADI’s Singapore test plant!

JCET is one of the first manufacturing service providers to provide packaging and testing in Singapore. The acquisition of ADI’s Singapore testing facility will further enhance JCET’s market competitiveness. Mr. Qiu Lijian, General Manager of Changjiang Electronics Technology’s Singapore subsidiary, said:

“Xingke Jinpeng, a subsidiary of Changjiang Electronics Technology, and ADI have gone through a journey of tacit cooperation in Singapore for more than 20 years. The completion of this acquisition is not only a part of Changdian Technology’s first-class test manufacturing and engineering capabilities in Singapore. This recognition also reflects ADI’s strong confidence and trust in our partnership. We look forward to further expanding our semiconductor business in Singapore with our strong partnership.”

Singapore has been at the top of the “Global Innovation Index” for several consecutive years, and its superior innovation system and innovation environment have provided a lasting impetus to promote the progress of the global semiconductor industry. Mr. Gan Zhiqiang, Senior Vice President and Head of Semiconductor Industry, Singapore Economic Development Board said:

“Semiconductor industry is one of the pillar industries of Singapore’s manufacturing industry. Many companies have carried out diversified operations in Singapore, including setting up R&D centers and high-value manufacturing. We congratulate Changdian Technology on its continuous expansion in the Singapore market and the addition of new advanced Testing capabilities. This also demonstrates Singapore’s competitiveness as a key link in the semiconductor industry chain and as an advanced manufacturing and innovation hub. We look forward to closer cooperation with Changdian Technology at a new height to create more business opportunities and employment for the industry Chance.”

Steve Lattari, senior vice president of global operations and technology at ADI, said:

“This is a new milestone in the partnership between ADI and JCET. This consignment of factory sales and test assets represents our mutual commitment to providing continuity of support to our supply chain, employees and customers.”

Changdian Technology has been deeply involved in the Singapore market for a long time, and this acquisition will open a new chapter in the development of Changdian Technology in Singapore. Mr. Zheng Li, Chief Executive Officer of Changdian Technology, said:

“We are very pleased that the Xingke Jinpeng Singapore team, the Singapore subsidiary of JCET, has been fully prepared to accept the resources of ADI’s Singapore factory including excellent engineering and operation teams. We appreciate the sincere cooperation of both parties and firmly believe that This collaboration will strengthen our more than two decades of partnership with ADI, providing high-quality test capabilities to the global semiconductor industry.”

  

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