Forehope Electronic Announces 10.3 Billion Yuan Investment for Third-Phase Advanced IC Packaging and Testing Facility

Stock News06-26

Forehope Electronic(Ningbo)Co.,Ltd. (ASX: 688362) has announced a significant investment initiative to capitalize on industry opportunities and enhance its market position.

The company plans to invest in the construction of a "Third-Phase Advanced Microelectronics IC Packaging and Testing Project" within the Sino-Italian Ningbo Eco Park.

This move involves signing an investment agreement with the park's administrative committee and its holding group company.

The total planned investment for the project amounts to 10.3 billion yuan, covering costs for land acquisition, factory construction, and equipment procurement.

The construction period for the facility is estimated to span 96 months.

This strategic project is expected to significantly boost the company's research and development capabilities as well as its industrial production capacity in the high-end chip packaging sector.

It will provide stronger support for the R&D and testing of the company's new generation of advanced products, deepening its business footprint in wafer-level advanced packaging.

This initiative positions the company to seize favorable opportunities arising from the rapid growth of the integrated circuit industry and the trend of domestic substitution for high-end chip packaging.

Furthermore, the project will contribute to elevating the domestic production level of advanced packaging chips, playing a crucial role in ensuring the stability of China's chip industry supply chain.

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