ICC News reported on June 24 that Beijing Vantone New Development Group Co., Ltd. (hereinafter referred to as "Vantone Development") announced that it intends to acquire Source Photonics in cash Holdings (Cayman) Limited ("Source Optoelectronics") is 60.16% owned in a transaction valued at US$324 million.

It is understood that the transaction between Vantone Development and Source Optoelectronics will be completed by way of agreement transfer. Specifically, Vantone Development will work with Diamond Eleven counterparties, including Hill and Shanghai Lucun, signed the Share Transfer Agreement to acquire a total of 115,518,410 shares of Source Optoelectronics held by them. At the same time, Vantone Development will also sign a Share Transfer Agreement with PSD to acquire 8,235,293 shares of Source Optoelectronics held by PSD. Upon completion of the transaction, Vantone Development will hold a total of 123,753,703 shares of Source Optoelectronics, representing a shareholding ratio of 60.16%, thus becoming the controlling shareholder of Source Optoelectronics.

As a well-known supplier of optical modules, Source Optoelectronics has strong technical strength, R&D capabilities and customer influence. The company is mainly engaged in the research and development, production and sales of optical chips, optical devices and optical module products, which are widely used in data centers, telecommunications and other scenarios. Its product line covers the entire industrial chain from optical chip design, research and production, to optical device production, to optical module design, assembly and testing. Especially in the field of high-speed optical modules, Source Optoelectronics has achieved large-scale mass production of 400G/800G high-speed optical modules, and has the ability to vertically integrate 1.6T optical modules for the next generation of AI computing centers.

Vantone Development said that the acquisition of Source Optoelectronics is a major investment decision in the established strategic direction of communication and digital technology. Through the acquisition, Vantone Development will further promote the strategic layout in the field of communication and digital technology, and enhance the company's sustainable development ability and comprehensive competitiveness. At the same time, this is also in line with the strategic transformation needs of Vantone Development in the context of the industrial restructuring of the domestic real estate industry, and actively exploring the industries and directions supported and encouraged by the state.

Vantone Development is an A-share listed real estate development company, and in recent years, it has begun to strategically shrink its traditional real estate business segment and actively explore new growth points. The field of communication and digital technology is one of the important directions that Vantone is optimistic about. Through the acquisition of Source Optoelectronics, Vantone Development will not only gain access to an optical transceiver supplier with strong R&D strength and market influence, but will also further consolidate its position in the field of communication and digital technology.

 www.sourcephotonics.com

As a leading global provider of advanced technology solutions for communications and data connectivity, we add value to our customers by developing next-generation solutions that enable their growth by meeting the rapidly increasing demands of cloud infrastructure, wireless communications, routing, and fiber-to-the-premises applications worldwide. Through lean management, manufacturing, and our Source Lean Quality (SLQ) system, we run our world-class operation at maximum efficiency, identifying and eliminating waste in our processes to create more value for our customers.

Our technical expertise in R&D runs deep with manufacturing process development expertise and highly specialized engineering teams based around the globe — experts in optoelectronic devices, optical subassembly, and module design. Source Photonics has key R&D and manufacturing facilities in California, Taiwan, Shanghai, Chengdu, and Jintan, China.