Dexin Chip Technology has bagged over $38 million in fresh funding, while Nuode New Materials is planning to acquire a 90.2% stake in futures company Cloudfutures for 454.6 million yuan ($62.8 million).
Dexin Chip Technology pockets over $38m in fresh funding round
Semiconductor firm Dexin Chip Technology has snapped 280 million yuan ($38.7 million) in a fresh equity financing round that roped in several new investors including state-owned investment firm Suzhou International Development Venture Capital Holding and a fund managed by Oriza Holdings.
Other new investors which joined the round include a wholly-owned subsidiary of CanSemi Technology, a firm that focuses on the mass production of 12-inch silicon wafers; while existing backers including Shenzhen-listed discrete semiconductor products maker Suzhou Good-Ark Electronics also re-upped, regulatory filing dated April 17 showed.
Founded in 2022, the Suzhou-based firm will use the proceeds to build the first phase of 6-inch silicon wafers production plan as well as in R&D and market expansion.
Nuode New Materials acquires 90.2% stake in Cloudfutures
Shanghai-listed Nuode New Materials has planned to acquire a 90.2% stake in futures company Cloudfutures for 454.6 million yuan ($62.8 million), according to a regulatory filing.
Founded in 1993, the Urumqi-registered futures firm saw its audited operating revenue widen from around 106.2 million yuan ($14.7 million) in 2022 to almost 508 million yuan ($70.2 million) in the first 11 months of 2023, while its net loss narrowed to around 36.8 million yuan ($5.1 million) in the first 11 months of 2023 compared to 55.7 million yuan ($7.7 million) in 2022, per the filing.
Although Nuode said in the filing that the acquisition will help the firm diversify risk as well as optimise its supply chain, the Shanghai Stock Exchange has filed a subsequent letter demanding Nuode to explain how the acquisition could help optimise the supply chain of the copper foil supplier as well as the reasons behind the net loss facing Cloudfutures, among others.
