Nexchip to inject RMB 5.1B into subsidiary in RMB 9.1B capital raise

Cointime update: Nexchip announced it will join Hefei Construction Investment and Hefei Qinhe in injecting a combined RMB 9.1 billion into wholly owned subsidiary Jingyi Integrated at RMB 1.00 per registered capital, with Nexchip contributing RMB 5.1 billion. Registered capital rises from RMB 2 billion to RMB 11.1 billion, cutting Nexchip’s stake from 100% to 63.96% while it remains the controlling shareholder. Jingyi is the build entity for Nexchip’s phase-four project, a RMB 35.5 billion 12-inch wafer fab targeting about 55,000 wafers per month in 40nm and 28nm CIS, OLED and logic processes.