JCET Group to Invest 404 Million Yuan in New Semiconductor Equity Investment Fund

MT Newswires Live01-02

JCET Group (SHA:600584) plans to invest in a new private equity fund focused on the semiconductor supply chain, according to a Thursday filing with the Shanghai Stock Exchange.

The company, which provides semiconductor assembly, testing, and manufacturing services, will contribute 403.8 million yuan to establish the Jiaorong Xinzhi (Shanghai) Equity Investment Fund Partnership.

The size of the investment fund is set at 1.35 billion yuan and JCET, through its subsidiary Shanghai Yunjiaolong Enterprise Management, will serve as limited partner holding a 30% stake.

Bank of Communications' (HKG:3328, SHA:601328) unit Bank of Communications Capital Management will serve as fund manager and general partner, while Industrial and Commercial Bank of China's (HKG:1398, SHA:601398) unit ICBC Capital Management will also serve as general partner.

The fund will invest in semiconductor chip manufacturing, testing, and upstream and downstream of the industry chain.

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