SMIC Joins Hands with State-Owned Companies to Expand Production Capacity

SHANGHAI, Nov 15 (SMM) - SMIC entered into a Lingang joint venture agreement on November 12 with National Integrated Circuit Fund II and Hailinwei to jointly establish a Lingang joint venture. The registered capital of the Lingang joint venture is $5.5 billion, and the capital contributions of the above three companies account for 66.45%, 16.77% and 16.78% of the registered capital of the Lingang Joint Venture, respectively.