Chinese semiconductor thread II

[sunnymaxi]

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There is basically a wave of IPOs from multiple Chinese Ai/GPU chip companies.

Biren Technology too listed in HK Stock Exchange just now.

shared surged nearly 120% on the Hong Kong Stock Exchange by midday on Friday after the company raised 5.58 billion Hong Kong dollars.

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All sanctioned/blacklisted companies successfully returned.

 

[huemens]

I would just ignore the SMIC north part of this.

It seems like gov't is just making a major investment into SMIC to make sure it has enough funding needed for all the expansion projects it needs to do in this AI race. After all, they injected $7.8 into the SMSC JV recently. So, I'm not surprised if they also bought into SMIC itself to provide SMIC with more liquidity. Maybe part of the agreement is that they need to use more domestic equipments.

SMIC North 49% acquisition was not a cash translation. Instead they paid the government shareholders of SMIC North by issuing new shares in the parent company. So this share increase is likely the result of that.
The new investment into SMSC is separate.

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Semiconductor Manufacturing International Corp. (SMIC), China’s largest chipmaker, plans to acquire the remaining 49% stake in its Beijing subsidiary for 40.6 billion yuan ($5.8 billion) through a share issuance, consolidating control over a key production hub for mature-node chips.

According to a filing released on Tuesday, SMIC will issue approximately 547 million new shares at 74.2 yuan each to five minority shareholders. The sellers include the China Integrated Circuit Industry Investment Fund, known as the “Big Fund,” as well as investment vehicles backed by the Beijing municipal government.

 

[ForcedTrend]

they say Tianqiong can be further used across materials, chips and manufacturing.

 

[Michael90]

50% access is still kind of generous on part of the Chinese government considering that what US stooges, especially Biden stooges, try attempt in China was basically an assassination attempt.

I think it’s more like it’s hard to require 100% localisation since domestic suppliers are still in building up and transition face. Not sure they can fully replace all foreign products without issues. So it takes time, slowly but surely , no need to rush things when they are already doing fine