# Xinjinlu acquires 53.55% stake in Tianbing Technology for $41.5M

Xinjinlu, a chlor-alkali chemical company, agreed to acquire a 53.55% stake in Anhui Tianbing Electronic Technology Co., Ltd. for RMB 300.25 million (approx. $41.5 million), expanding into military electronics.

- Type: Acquisition
- Announced: 2023-06-25
- Where: China
- Value: $41.5M (300.2M CNY)
- Status: announced
- Products: microwave millimeter wave chips, microwave millimeter wave components, subsystems
- Sectors: [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md)

## Companies

- [Xinjinlu](https://endata.com/companies/71058.md) (acquirer)
- [Anhui Tianbing Electronic Technology Co., Ltd.](https://endata.com/companies/71059.md) (target)

## Sources

- [zqrb.cn](http://www.zqrb.cn/gscy/gongsi/2023-06-26/A1687765035436.html), 2023-06-26: "天兵科技技术实力雄厚，相关军工资质齐备，通过此次交易，公司将置入盈利能力较强的优质资产，主营业务将拓展至军工电子新领域"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.