Shenyang Siasun Microelectronics Equipment, a subsidiary of China’s state-owned robotics manufacturer Siasun Robot & Automation, is raising 400 million yuan ($55.3 million) in its first external equity fundraising.
Siasun Microelectronics attracted nine investors in its equity financing by publicly selling shares on the China Beijing Equity Exchange, a Chinese government-run bourse for trading shares of state-owned enterprises, the parent firm announced in a stock exchange filing.
The filing shows that the 10-billion-yuan ($1.4 billion) Beijing Integrated Circuit Equipment Industry M&A Fund, managed by Beijing-based fund management firm NUO Capital, intends to contribute 130 million yuan ($18 million) as the lead investor.
Meanwhile, the over-200-billion-yuan ($27.6 billion) second phase of China’s National Integrated Circuit Industry Investment Fund, also known as “Big Fund II,” plans to subscribe 103 million yuan ($14.2 million) as the co-lead investor.
The two anchor investors, along with another seven domestic investors, will pick up a combined stake of almost 28.6% in Siasun Microelectronics, while its parent will hold the remaining 71.4% stake and continue to be the controlling shareholder, the filing shows.
The planned investment marks the first equity financing by Siasun Microelectronics, which was officially created in 2023 from the semiconductor equipment division of Shenzhen-listed Siasun.
Headquartered in Shenyang City in northeastern China, Siasun Microelectronics focuses on the R&D, production, sales, and technical services of integrated wafer transfer solutions. As an important front-end process of semiconductor manufacturing, wafer transfer requires high precision and speed while moving incoming wafers from a shipping cassette to a work-in-progress production cassette.
This equity financing will help the firm rope in strategic investors such as Advanced Micro-Fabrication Equipment (AMEC), which also uses solutions from Siasun Microelectronics in its semiconductor manufacturing.
The investment will “allow Siasun Microelectronics to forge deeper cooperation with strategic investors at both the business and capital levels,” said the parent. This can be beneficial to Siasun Microelectronics in its market expansion and promotion of domestic replacements in the semiconductor sector.
Siasun said that the equity financing will also enable its subsidiary to replenish working capital, expand production, and build international competitiveness.
In the first four months of 2024, Siasun Microelectronics booked 134.4 million yuan ($18.6 million) in revenue and over 5.5 million yuan ($760,235.3) in net profit. The gross value of its assets stood at over 529.3 million yuan ($73.2 million) as of April 30, according to unaudited financial results cited in the filing.