Meituan-Affiliated Company Invests in Rong Semiconductor, Sending Registered Capital Soaring to 380 Million Yuan

Rong Semiconductor (Ningbo) Co., Ltd. has had many changes on its industrial and commercial registration page as of late, showing that its registered capital increased from 232 million yuan ($35.937 million) to 380 million yuan, according to commercial inquiry platform Tianyancha.

Kuxun Interactive Technology Co., Ltd., Shenzhen Longzhu Equity Investment Fund Partnership (limited Partnership) and Ingenic Semiconductor Inc. have been added as shareholders.

The partners of Shenzhen Longzhu Equity Investment Fund Partnership (Limited Partnership) include Tianjin Sankuai Technology Co., Ltd. and Shenzhen Tencent Industrial Fund Co., Ltd.. Tianjin Sankuai Technology Co., Ltd. is an affiliated company of Meituan and holds over 82% of Rong Semiconductor’s shares.  Beijing Kuxun Technology Co., Ltd. is wholly owned by Xigua Limited, which also holds 100% of Shenzhen Meituan Technology Co., Ltd.

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Rong Semiconductor was established in April 2021 and its legal representative is Han Bing. The firm’s main business scope is the manufacturing of semiconductor discrete devices and integrated circuit products and the designing of Integrated circuits.

According to a report by Chinese media Latepost on August 4, Rong Semiconductor recently completed a round of financing with a trio of investors, including Sequoia, Meituan and the founder of Will Semiconductor.

It is reported that Meituan has three major investment institutions: its flagship brand Meituan, Meituan Dragon Ball and Meituan Zhantou. From June to September this year, Meituan has invested in five chip companies.