Lonten Semiconductor Co Ltd

China International Development Corporation Limited and Powex Limited, a subsidiary of Lonten Semiconductor, signed a non-legally binding MOU to establish a strategic partnership and explore setting up an advanced power semiconductor technology R&D center in Hong Kong.

China International Development Corp, a leather goods maker, signed an agreement with Lonten Semiconductor's largest shareholder to explore acquiring the semiconductor company for up to HK$9 billion ($1.16 billion). The deal involves engaging with remaining shareholders.