Chinasoft International uses 15-day-old Xi'an unit to acquire 29.68% stake in Jingwei for $1.3B
Chinasoft International (00354.HK) acquired a 29.68% controlling stake in Hangzhou Jingwei Information Technology (301390.SZ) for 9.44 billion yuan ($1.3B) through a newly formed Xi'an subsidiary established on September 1, 2026, just 15 days before the September 16 announcement. The subsidiary had not yet conducted business. Jingwei, a power and new energy services firm, has seen declining revenues and a net loss of 23.12 million yuan in H1 2026. Analysts view the deal as a strategic move to integrate Chinasoft's AI and software capabilities into the energy sector.
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Chinese software firm uses 15-day-old Xi'an unit to buy $1.3B stake in power engineering company
Chinese software firm Chinasoft International (00354.HK) has agreed to acquire a 29.68% controlling stake in Hangzhou Jingwei Information Technology (301390.SZ) for 9.44 billion yuan (about $1.3 billion) through a newly formed subsidiary, Chinasoft (Xi'an) Intelligent Technology. The subsidiary was established on September 1, 2026, just 15 days before the deal was announced, and had not yet conducted any business. The acquisition price of 53 yuan per share values the target at a high multiple given its declining financial performance: Jingwei's 2025 net profit fell 85% year-on-year to 5.27 million yuan, and it posted a net loss of 23.12 million yuan in the first half of 2026. The article, citing the source media 每日经济新闻, suggests the deal is not a typical financial investment but a strategic move by Chinasoft to integrate its AI, software, and computing capabilities into the energy and power sector, where Jingwei operates. The choice of Xi'an as the acquisition vehicle's base is linked to Chinasoft's long-standing presence in the city's software industry and recent smart-city contracts, positioning Xi'an as a potential hub for AI-energy convergence.
Read source15-day-old Xi'an company buys 29.68% stake in A-share firm for 944 million yuan
On September 16, 2026, China Software International (CSII) announced that its newly formed subsidiary, CSII (Xi'an) Intelligent Technology Co., Ltd., established just 15 days earlier on September 1, will acquire a 29.68% stake in Hangzhou Jingwei Information Technology Co., Ltd. for 944 million yuan (53 yuan per share). The transaction will make CSII Xi'an the controlling shareholder of Jingwei, an A-share listed company specializing in power consulting, new energy, and digital intelligence applications. The analysis notes three key details: the acquisition vehicle was newly formed in Xi'an, CSII chose not to acquire directly but through this new entity, and Jingwei operates in the power and energy sector. The article suggests this is not merely a control transfer but a strategic move by CSII to extend its AI, software, and computing capabilities into real-world energy scenarios, leveraging its long-standing presence in Xi'an's software industry. Jingwei has experienced declining revenues and profits, with 2026 first-half net loss of 23.12 million yuan, indicating CSII values its industry position over current financial performance.
Read source15-day-old Xi'an company buys 29.68% stake in A-share firm for 944 million yuan
On September 16, 2026, China Software International (CSI) announced that its newly established Xi'an subsidiary, CSI (Xi'an) Intelligent Technology Co., Ltd., founded on September 1, 2026, will acquire a 29.68% stake in Hangzhou Jingwei Information Technology Co., Ltd. for 944 million yuan at 53 yuan per share. The transaction will make CSI Xi'an the controlling shareholder of Jingwei, a company specializing in power consulting, new energy, and digital intelligence applications. Jingwei has experienced declining revenues and net losses in 2025-2026. The article suggests CSI's strategic interest lies in integrating its AI, software, and computing capabilities with Jingwei's energy sector expertise, leveraging CSI's long-standing presence in Xi'an. CSI has been in Xi'an since 2010 and recently won a 245 million yuan smart traffic project there. The deal is seen as a move to combine AI with real-world energy scenarios, with Xi'an as a potential convergence point.
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Xi'an Firm Founded 15 Days Ago Buys 29.68% Stake in A-Share Company for $1.3 Billion
Chinese software company Chinasoft International Ltd. (00354.HK) has agreed to acquire a 29.68% controlling stake in Hangzhou Jingwei Information Technology Co., Ltd. (301390.SZ) for 9.44 billion yuan (about $1.3 billion) through a newly established subsidiary, Chinasoft International (Xi'an) Intelligent Technology Co., Ltd. The Xi'an-based SPV was founded on September 1, 2026, just 15 days before the deal was announced on September 16. The acquisition price is 53 yuan per share. The target company, Jingwei, provides power consulting, design, engineering, and digital application services, and has seen declining revenues and a net loss in the first half of 2026. The article notes that Chinasoft International has had a presence in Xi'an since 2010 and is deepening its role in the city's smart city and AI infrastructure projects. Analysts suggest the deal is not a typical financial acquisition but a strategic move to extend Chinasoft's AI and software capabilities into the energy and power sector, leveraging Xi'an as a hub for this integration.
Read sourceChinese software firm uses 15-day-old Xi'an unit to buy A-share company for $1.3 billion
Chinese software firm Chinasoft International (00354.HK) has agreed to acquire a 29.68% controlling stake in Hangzhou Jingwei Information Technology (301390.SZ) for 9.44 billion yuan (about $1.3 billion) through a newly established Xi'an subsidiary, Chinasoft (Xi'an) Intelligent Technology, founded just 15 days before the deal. The acquisition, announced on September 16, 2026, involves purchasing shares from multiple existing shareholders at 53 yuan per share. The deal is notable for three reasons: the acquisition vehicle was established only days prior, Chinasoft chose not to acquire directly but through this new entity, and the target company Jingwei specializes in power and new energy services. Analysts view the transaction as a strategic move by Chinasoft to extend its AI, software, and computing capabilities into the energy sector, leveraging its long-standing presence in Xi'an, where it has operated for over a decade. Jingwei, despite recent financial declines, provides real-world energy industry scenarios and expertise that complement Chinasoft's AI and digital capabilities.
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