Guangzhou-based CanSemi Technology on September 23 opened subscriptions for a Shenzhen Stock Exchange initial public offering priced at 12.01 yuan a share and targeting up to 6.16 billion yuan (about $918.5 million) at base size - or roughly 7.08 billion yuan ($1.06 billion) if the overallotment is exercised in full.
Yuexin Semi Bulks Up 12-Inch Capacity
CanSemi, formally known as Yuexin Semiconductor Technology, plans to sell 512.6 million new shares before the overallotment option and up to 589.54 million with it. Proceeds will fund additional 12-inch wafer capacity for consumer electronics, industrial control, automotive and AI applications - a strategic priority as Beijing pushes domestic self-reliance under U.S. export controls.
Alibaba, Goodix And Biwin Anchor
Strategic backers will collectively purchase 50% of the offered shares, including Hangzhou Alibaba Cloud Feitian Information Technology, Shenzhen Goodix Technology and Biwin Storage Technology. The three anchor commitments give Alibaba, a leading fabless designer and a memory-module maker deeper interest in CanSemi's fabs at a moment when data-center chip revenue is exploding.
Where The Money Goes
CanSemi said the fundraise will bankroll additional 12-inch fab lines, working capital and R&D for higher-node processes. The listing joins a wave of Chinese semiconductor IPOs in 2026 as A-share markets emerge as the preferred domestic funding route for chip self-reliance.
Reporting based on coverage from Bloomberg, Reuters, The Standard and Whalesbook.