New semiconductor enterprise settles in Zhangjiang
A new semiconductor enterprise has been formed in Zhangjiang National Innovation Demonstration Zone, Shanghai, with the registered capital for the company reaching 9 billion yuan ($ 1.31 billion).
According to the official announcement on Jan 3, National Integrated Circuit Industry Investment Fund, Shanghai Guosheng Assets and two funds established by GCL Group, leveraged their respective resource advantages and jointly set up Xinhua Semiconductor Holding (Shanghai) Co., Ltd.
In 2019, Xinhua Semiconductor will integrate GCL's semiconductor industry entities, as well as the company assets of Shanghai Silicon Industry Investment. It will focus on investing in the silicon material industry and the IC industry.
“With the strategic industrial partner as the GCL Group, we believe that the company will integrate capital and human resources to create a stronger semiconductor wafer and IC materials ecosystem,” said Wang Xi, chairman of Xinhua Semiconductor.
Zhangjiang has been developing its IC industry for more than 20 years. It has become one of China’s most advanced industrial hubs in terms of industrial chain layout, industrial scale, technical level and comprehensive strength.
In 2017, the total profit of Shanghai's IC industry was around 8.79 billion yuan, up 18 percent year-on-year, among which the equipment and material industry experienced the largest year-on-year growth, reaching 95.7 percent.
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