China Integrated Circuit Industry Investment Sparks Board Reshuffling at JCET
China Integrated Circuit Industry Investment Drives Changes at JCET
China's largest chip-packaging firm, Jiangsu Changjiang Electronics Tech (JCET), has undergone a significant board reshuffle as China Resources Group emerges as its largest shareholder with a 22.5% stake. Veteran chairman Gao Yonggang and two directors, Peng Jin and Zhang Chunsheng, have resigned, reflecting a shift in the company's governance following the recent acquisition.
Impact of Corporate Shake-Up on Semiconductor Manufacturing
China Resources has had an increasing presence in the local semiconductor industry, already owning China Resources Microelectronics. The transaction demonstrates the ongoing consolidation within the sector, established through partnerships among state-owned enterprises and government-backed funds. Advanced packaging has gained importance for China, especially as it struggles with advanced chipmaking due to Washington's trade constraints.
- Board meeting scheduled for November 29 to elect new supervisor
- Gao has resigned from JCET's board but has a history with SMIC
- First three quarters saw JCET's revenue increase by 22.26% year-on-year
With a shift in power dynamics and an emphasis on self-sufficiency in semiconductors, JCET's latest developments underscore the strategic significance of China's integrated circuit industry investment.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.