ST Michael: Planning to acquire assets transactions, pre-reorganization may affect progress

ST Mic announced that the company is planning to issue shares and pay cash to acquire the controlling interest in Shenzhen Wandesi Optoelectronic Technology Co., Ltd. and raise matching funds. The company's stock was suspended from trading on December 18, 2025, and resumed trading on January 5, 2026. On April 29, 2026, the company received a pre-reorganization registration notice from the Urumqi Intermediate People's Court, which may affect the progress of the transaction. The transaction needs to be approved by the Board of Directors, shareholders' meeting, and regulatory authorities, and there is uncertainty about whether it will be approved.