Maxone Semiconductor president Zhou Ming has transferred 10.86 percent of the company's shares to his ex-wife in a settlement worth approximately 6 billion yuan.
Key facts
- •Zhou Ming, 53, transferred half of his personal equity holdings to his ex-wife.
- •The transferred stake represents 10.86 percent of the company's total issued shares.
- •The settlement is valued at approximately 6 billion yuan (US$886 million).
- •Maxone Semiconductor is the first domestic probe card maker listed on Shanghai’s Sci-Tech Innovation Board.
- •The company held its initial public offering in December.
Maxone Semiconductor Suzhou Co. president Zhou Ming has completed a share transfer following his divorce, moving 10.86 percent of the company's total issued shares to his ex-wife. The transfer, valued at approximately 6 billion yuan based on recent closing prices, is the largest asset split involving a Chinese A-share firm owner this year.
By the numbers
Market Impact and Corporate Governance
The announcement of the share division has prompted concerns among retail investors regarding corporate governance and potential share price volatility. The transfer occurred less than one year after the company's initial public offering on Shanghai’s Sci-Tech Innovation Board in December.
Company Share Performance
Maxone Semiconductor's share price saw significant growth following its debut, reaching a record intraday high of 671 yuan on July 1. However, the stock has since declined in line with broader tech sector trends, closing at 417 yuan per share on the Thursday following the announcement.
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This article was independently rewritten by ManyPress editorial AI from reporting originally published by SCMP Business.
