The $2.2 billion integrated circuit industrialization project of GalaxyCore has launched in Lingang New Area


With the successful signing of a ten billion project, the integrated circuit industry ecology in the Lingang New Area of Shanghai Free Trade Pilot Zone will be further completed.

On March 5, 2020, GalaxyCore (HongKong) Limited (hereinafter referred to as "GalaxyCore") signed a cooperation agreement with the management committee of Lingang New Area of China (Shanghai) Free Trade Pilot Zone. GalaxyCore plans to invest in the R&D and industrialization of the featured technology of 12-inch CIS integrated circuit in the Lingang New Area. With an estimated investment of $2.2 billion, the project will be launched in mid-2020.

The two parties made preliminary contact before the Spring Festival, and formally negotiated after the Spring Festival. In less than a month, the management committee of Lingang New Area and GalaxyCore discussed, finalized and signed the investment agreement. This is the substantive completion of another major project after the "cloud signing" of 20-billion-yuan project signed on February 13.

Overall Development Plan of China (Shanghai) Pilot Free Trade Zone Lingang New Area clearly points out that Lingang New Area will establish a cutting-edge industrial cluster focusing on making breakthroughs in core technologies. In terms of integrated circuits, the Lingang New Area will develop into a comprehensive industrial base, optimize the whole-process bonded supervision mode of imported materials, support multinational companies in setting up offshore R&D and manufacturing centers, and promote the development of key areas such as core chips, featured processes, key equipment and basic materials.

At present, a number of integrated circuit enterprises, such as ASMC (GTA semiconductor) and Zing Semi, have gathered in Lingang New Area, covering the whole industrial chain of design, manufacturing, packaging, testing, materials and equipment. GalaxyCore’s investment in the R&D and industrialization of the featured technology for 12-inch CIS integrated circuit, which on the one hand is beneficial to extend the industrial chain and improve the competitiveness of the enterprise, on the other hand, which will also help Lingang New Area to improve the integrated circuit industry ecology, promote the industrial agglomeration and upgrade the industrial scale.