China Resources Microelectronics Explained

China Resources Microelectronics Limited
Trading Name:CR Micro
Native Name:华润微电子有限公司
Former Name:CSMC Technologies
Type:Public
State-owned enterprise
Predecessor:Wuxi Huajing Electronics
Location:Wuxi, Jiangsu, China
Key People:Chen Xiaojun (Chairman)
Li Hong (CEO)
Revenue: (2023)
Net Income: (2023)
Assets: (2023)
Equity: (2023)
Num Employees:10,249 (2023)
Parent:China Resources
Industry:Semiconductors
Footnotes:[1]

China Resources Microelectronics (CR Micro;) is a partially state-owned publicly listed Chinese semiconductor company headquartered in Wuxi, Jiangsu. It is the largest integrated device manufacturer in China.

CR Micro is a subsidiary of China Resources.

Background

The origins of CR Micro can be traced to Wuxi Huajing Electronics, a state-owned semiconductor plan in Wuxi. In September 2002 it was acquired by China Resources and transferred to its subsidiary, China Resources Logic (now China Resources Gas).[2] It was renamed to Wuxi China Resources Microelectronics.[3]

In May 2006, China Resources Logic became the controlling shareholder of CSMC Technologies, another semiconductor company that was listed on the Hong Kong Stock Exchange with the ticker '597'.[4] In November 2007, China Resources Logic sold its entire semiconductor business to CSMC Technologies. This was to consolidate the semiconductor business.[5] In March 2008, CSMC Technologies changed its name to CR Micro.[6]

In July 2011, it was reported that China Resources was considering taking CR Micro private via buyout.[7] Later that year, it delisted from the Hong Kong Stock Exchange.[8]

In February 2020, CR Micro listed on the Shanghai Stock Exchange STAR Market making it the first Red chip company to be listed on the Shanghai Stock Exchange.[9]

In August 2023, CR Micro approved a plan for its Shenzhen subsidiary, Runpeng Semiconductors to sell shares to several investors such as the China Integrated Circuit Industry Investment Fund. The aim was to build a 12-inch wafer foundry in Shenzhen.[10]

In March 2024, CR Micro acquired a 22.5% stake in JCET making it the controlling shareholder.[11]

See also

Notes and References

  1. Web site: 2023 Annual Report . Sina.
  2. Web site: Sito . Peggy . 10 May 2002 . Logic uses upturn to tap market for $160m . 7 October 2024 . South China Morning Post . en.
  3. Web site: 6 November 2007 . 華潤再次重組半導體業務 勵致上華可能二選一 . 7 October 2024 . 4 March 2016 . https://web.archive.org/web/20160304200134/http://finance.people.com.cn/BIG5/6491400.html . dead .
  4. Web site: Li . Joyce . 16 May 2006 . China Resources Offers CSMC Buyout . The Wall Street Journal.
  5. Web site: Kandy . Wong . 29 November 2007 . CR Logic to sell chip business to CSMC . 7 October 2024 . South China Morning Post . en.
  6. Web site: 5 March 2008 . CHANGE OF NAME AND STOCK SHORT NAME, TRADING ARRANGEMENT AND FACILITY AGREEMENT WITH SPECIFIC PERFORMANCE COVENANT OF CHINA RESOURCES MICROELECTRONICS LIMITED .
  7. Web site: 5 July 2011 . Buyout talk boosts shares in CR Microelectronics . 7 October 2024 . South China Morning Post . en.
  8. Web site: 新浪财经综合 . 31 March 2019 . 华润微电子启动科创板上市步伐 2011年曾私有化退市 . 7 October 2024 . finance.sina.com.cn . 1 April 2019 . https://web.archive.org/web/20190401233031/https://finance.sina.com.cn/roll/2019-03-31/doc-ihsxncvh7163770.shtml . live .
  9. Web site: 28 February 2020 . Wuxi red chip enterprise releases first domestic IPO . 7 October 2024 . regional.chinadaily.com.cn . 7 October 2024 . https://web.archive.org/web/20241007130346/https://regional.chinadaily.com.cn/jiangsu/wuxi/2020-02/28/c_459800.htm . live .
  10. Web site: Liu . Pelin . 19 August 2023 . China state investors to inject $1.7bn in Shenzhen wafer foundry . 7 October 2024 . Nikkei Asia . en-GB . 3 October 2024 . https://web.archive.org/web/20241003101622/https://asia.nikkei.com/Spotlight/Caixin/China-state-investors-to-inject-1.7bn-in-Shenzhen-wafer-foundry . live .
  11. Web site: Fan . Xuehan . 27 March 2024 . JCET Gains as China Resources Takes Over Chip Packaging Firm for USD1.6 Billion . 7 October 2024 . www.yicaiglobal.com . en . 7 October 2024 . https://web.archive.org/web/20241007130344/https://www.yicaiglobal.com/news/jcet-gains-as-china-resources-takes-over-chip-packaging-firm-for-usd16-billion . live .

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