TECH

Chinese Chipmaker CanSemi Shares Surge 223% in Trading Debut

Published: Oct. 14, 2026 3:07 p.m. GMT+8

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CanSemi debuted on the Shenzhen Stock Exchange’s ChiNext board on Tuesday. Photo: VCG

Shares of Guangzhou CanSemi Technology Inc. more than tripled in their trading debut on the Shenzhen Stock Exchange as investors piled into the Chinese mainland’s sole large-scale producer of 12-inch silicon photonics wafers.

The strong market reception highlights robust investor appetite for domestic semiconductor manufacturers poised to capitalize on the AI boom, despite the analog chipmaker’s massive ongoing losses.

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CanSemi (301660.SZ) surged 223.1% on ChiNext debut to 38.8 yuan, reaching ~111.7 billion yuan market cap; IPO raised 6.2 billion yuan, below its 7.5 billion target.
As the mainland's sole large-scale 12-inch silicon photonics wafer producer, it attracts AI-driven demand despite losses; monthly capacity hit 63,300 wafers with 96.4% utilization in 2025.
Revenue grew 57.3% CAGR (2023–2025) to 2.6 billion yuan, but net losses totaled 6.5 billion yuan; CanSemi expects profitability by 2029 with government subsidies.

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Who’s Who

Guangzhou CanSemi Technology Inc.: Guangzhou CanSemi Technology Inc. is the Chinese mainland's sole large-scale producer of 12-inch silicon photonics wafers. Founded in 2017 and headquartered in Guangzhou, it debuted on the Shenzhen Stock Exchange's ChiNext Board in 2026, with shares surging 223.1%. Despite rapid revenue growth, the analog chipmaker sustains heavy losses, expecting profitability by 2029.

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What Happened When

2017：: CanSemi was founded and is headquartered in Guangzhou.

2022：: Funds were raised for the 16.3 billion yuan project targeting automotive and industrial chips.

Between 2023 and 2025：: Revenue grew at a compound annual rate of 57.3%, increasing from 1 billion yuan to 2.6 billion yuan; annual net losses were 1.9 billion yuan, 2.3 billion yuan, and 2.3 billion yuan, respectively; annual equipment depreciation costs rose from 1.5 billion yuan to 2.3 billion yuan.

Late 2024：: CanSemi launched pilot production on a 12-inch 90 nanometer silicon photonics platform.

September 2025：: Chairman Chen Jin noted that the company's capacity utilization rate climbed from 55.2% in 2023 to 96.4% in 2024, with sales consistently matching production output.

End of 2025：: CanSemi operated two 12-inch fabs with a combined monthly production capacity of 63,300 wafers.

January 2026：: CanSemi launched a 25.2 billion yuan project aimed at cutting-edge optical and electronic integration processes down to 22 nanometer.

As of April 2026：: According to Frost & Sullivan, CanSemi was the only enterprise in the Chinese mainland with large-scale mass production capability for 12-inch silicon photonics wafers.

First half of 2026：: Revenue rose 68.8% year-on-year to 1.8 billion yuan, while net loss excluding nonrecurring items narrowed to 1.2 billion yuan from 1.3 billion yuan in the first half of 2025.

2026：: CanSemi's shares more than tripled in their trading debut on the Shenzhen Stock Exchange, highlighting robust investor appetite for domestic semiconductor manufacturers.

Tuesday, October 13, 2026：: CanSemi (301660.SZ) closed at 38.8 yuan ($5.8) a share on its first day of trading on the ChiNext Board, surging 223.1% from its IPO price of 12.01 yuan, giving a market capitalization of about 111.7 billion yuan; the firm raised about 6.2 billion yuan by issuing 513 million shares, falling short of its 7.5 billion yuan target.