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National Silicon Industry Group to Increase Capital in Subsidiary

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National Silicon Industry Group (SHA:688126) and Shanghai Guosheng (Group) will jointly increase the capital of subsidiary Shanghai Xinsheng Semiconductor Technology, according to a Friday filing with the Shanghai bourse.

The listed company will purchase 1.24 billion yuan in newly registered capital of Shanghai Xinsheng through a contribution of its 46.7354% stake in Shanghai Xinsheng Jingtou Semiconductor Technology, 49.1228% stake in Shanghai Xinsheng Jingke Semiconductor Technology, and 48.7805% stake in Shanghai Xinsheng Jingrui Semiconductor Technology for 7.45 billion yuan.

The capital increase will help promote the company's 300-millimeter silicon wafer capacity upgrade project and meet its funding needs.

Guosheng will invest 4 billion yuan to subscribe for 664.9 million yuan of newly registered capital of Xinsheng.

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