SMIC Acquires Minority Stake in SMNC to Boost Production Capacity
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- SMIC is acquiring a minority stake in SMNC, a 12-inch wafer foundry service provider, with shareholders including the state-backed Big Fund.
- This move aims to enhance SMIC's asset quality, improve business synergies, and address its production capacity shortages, according to company filings and an industry expert.
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Warum es wichtig ist
SMIC's acquisition of a minority stake in SMNC, a 12-inch wafer foundry, is intended to improve asset quality and enhance business synergies.
The shareholders, which includes the state-backed National Integrated Circuit Industry Investment Fund, also known as the Big Fund, will be among the top owners of SMIC after the deal. SMIC said in an earlier filing in April that this transaction would “further improve the company’s asset quality, enhance business synergies and promote long-term development”.
SMNC, founded in 2013, focuses on 12-inch wafer foundry services and has been an important manufacturing base for SMIC in Beijing.
“SMIC’s acquisition of minority stake in SMNC is essentially aimed at addressing its production capacity shortage and converting the premium from external shareholders into internal strategic benefits,” said Lu Kelin, founder of consultancy Lukedao Tech.
