# Ningbo Yongqiang

From Diapers to Wafers: A Chinese Hygiene-Materials Maker Moves into Semiconductor Supplies

Yanjiang Co., a Shenzhen-listed maker of diaper and hygiene-product materials, has proposed to acquire 98.54% of Ningbo Yongqiang Technology, a semiconductor-materials company, using a mix of shares and cash. The transaction is incomplete: audits and valuation are pending, and the deal will likely be treated as a related-party transaction because certain sellers will hold more than 5% of the listed stock post-deal.