On May 15, the evening announcement of Shangfeng Cement showed that the company invested 42.6 million yuan to establish a private equity fund, Suzhou Puhong Venture Capital Partnership (Limited Partnership), in a joint venture with professional institutions. At present, Suzhou Puhong has completed the investment in two projects of Anhui Ruidi Microelectronics Co., Ltd. (Hereinafter referred to as "Ruidi Micro") and Xinying Technology Co., Ltd. (Hereinafter referred to as "Xinying Technology"), with the investment amount of 20 million yuan. After the investment, Suzhou Puhong holds 1.7196% and 1.4104% of the shares of Reddiwei and Xinying Technologies respectively.
It is understood that Reddy Micro was founded on June 28, 2019 with a registered capital of RMB 100 million. It was jointly funded by Wuhu Chery Technology Co., Ltd., Enlightenment New Materials (Wuhu) Co., Ltd., Yijiang District Government and technical team to engage in research and development, packaging, testing and sales of IGBT modules. The company focuses on IGBT/FRD and silicon carbide MOS/SBD chip design, power module packaging and testing and system application solutions, focusing on the layout of new energy markets such as electric vehicles, wind power, photovoltaic, energy storage, charging piles, while taking into account the needs of power quality and industrial control, which is the strategic layout of Chery Group's core components of new energy vehicles. Founded in 2016 by listed company Zhongying Electronics Co., Ltd. (Stock Code 300327)
, Xinying Technology Co., Ltd. is a research and development company of display driver chips, which integrates design, research and development, and manufacturing. It provides users with flexible AMOLED driver chips, high-definition AMOLED driver chips, full high-definition AMOLED driver chips and other products, which are widely used in mobile phones, sports bracelets, instruments and other fields. Xinying Technology has achieved mass production of AM-OLED mobile phone panel driver chips, and is also one of the world's major suppliers of PM-OLED driver chips. The company has a research and development team of more than 100 people and more than 50 intellectual property rights.
In recent years, Shangfeng Cement has made steady progress and comprehensive improvement by virtue of the strategy of "one main body and two wings". Among them, the new economic equity investment wing focuses on new energy and the high-quality target of the semiconductor industry chain has been steadily promoted. The first semiconductor project invested by the company, Hefei Jinghe Integration, has been successfully listed on the Shanghai Stock Exchange. The investment in Ruidiwei and Xinying Technology is in line with the Company's key investment direction, and maintains strong competitive advantages in their respective industries. The continuous expansion of the new economic equity investment wing has played a positive role in promoting the optimization of the Company's industrial structure and the upgrading and extension of its main business, and has built an important support for resisting the risk of fluctuations in a single industrial cycle and enhancing its comprehensive competitiveness.