Aug 17, 2023 04:44 AM

BUSINESS

State Investors to Inject $1.7 Billion in Shenzhen Wafer Foundry

By Liu Peilin and Han Wei

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Runpeng in February raised 2.3 billion yuan to fund the Shenzhen wafer production project

Runpeng in February raised 2.3 billion yuan to fund the Shenzhen wafer production project

State investors including China’s biggest government-backed chip investment fund agreed to pour 12.6 billion yuan ($1.7 billion) into a wafer production project in Shenzhen as the country strives to boost its domestic chipmaking capacity.

Shanghai-listed China Resources Microelectronics Ltd. (CR Micro) said in an exchange filing Tuesday that its board has approved a plan for its Shenzhen subsidiary Runpeng Semiconductors to sell shares to several investors.

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