SMIC's Wafer Production Hhave Been Subscribed by Qualcomm and Others

    SMIC, the largest foundry company in China, recently announced that the company and National Integrated Circuit Fund and Qualcomm have invested a total of 280 million US dollars in cash to subscribe for preferred shares of SMIC (Cayman). The company said that the subscription will help expand the wafer production capacity of Jiangyin's joint venture subsidiary and accelerate the construction progress. Analysts pointed out that global wafer production capacity will be increasingly concentrated in mainland China.