Zhuzhou CRRC Times Electric Subsidiary Forms Joint Venture for Semiconductor Firm in Beijing

Stock News07-31

Zhuzhou Crrc Times Electric Co.,Ltd. (688187.SH) has announced that its subsidiary, Zhuzhou CRRC Times Semiconductor Co., Ltd. (referred to as "Times Semiconductor"), will jointly establish a new company with Beijing Huairou Laboratory and other entities.

The new company, to be named Beijing CRRC Times Huai Shi Semiconductor Co., Ltd., will be located in the Huairou District of Beijing. The total investment for the joint venture is 287 million yuan, with Times Semiconductor contributing 192 million yuan, representing a 67% stake in the registered capital.

The initiative aims to deepen the development of IGCT power semiconductor technology and foster industrial collaboration. This move is expected to enhance the core competitiveness of the semiconductor business, expand the product portfolio, and broaden application areas. The joint venture will be consolidated into the financial statements of Times Semiconductor.

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