News: Microelectronics
19 May 2022
HG adds Wide Yield as new strategic investor
Hong Kong-based HG Semiconductor Ltd has gained the new strategic investor Wide Yield Investment Holding Ltd, supporting its expansion to building a ‘third-generation semiconductor’ industry chain platform.
Star Eagle Enterprises Ltd disposed of 100,500,000 shares (about 17.83% of the total issued shares of HG) to Wide Yield Investment for a total of HK$302,103,000. Upon completion, Wide Yield Investment and its ultimate beneficial owner will become a substantial shareholder in HG.
Through strategic investor introduction, HG Semiconductor believes that its shareholding structure and financial position will be further strengthened, enabling it to develop and deepen its presence in the gallium nitride (GaN) sector. HG aims to continue to build on its existing strengths, accelerating growth in its GaN business, generating continuous and stable returns for shareholders in the long term.
HG Semiconductor is principally engaged in semiconductor product business in China, including the design, development, manufacturing, subcontracting services and sale of LED beads, a new generation of GaN chips, GaN components and related application products, as well as fast-charging products. Leveraging its expertise in LED manufacturing, HG is accelerating its R&D and expansion into GaN-related products, targeting the integration of design, manufacturing and sales of chips, as well as providing solutions with higher efficiency and competitive system cost.
Last November, HG made a strategic investment in GaN Systems Inc of Ottawa, Ontario, Canada (a fabless developer of gallium nitride-based power switching semiconductors for power conversion and control applications).
HG completes share placement to boost R&D
