Geely Invests in Semiconductor Firm Jingneng Microelectronics
Maijie Investment, a subsidiary of Chinese automaker Geely, added a new entity to its portfolio on Monday. The recent addition is Zhejiang Jingneng Microelectronics, with Maijie claiming an investment ratio of 88%.
According to domestic business inquiry platform Qichacha, Jingneng Microelectronics was established on June 20, 2022. The legal representative is Pan Yunbin, and it has a registered capital of 10 million yuan ($1.495 million). Its business scope includes the manufacturing of discrete semiconductor devices, special equipment for semiconductor components and design and production of integrated circuit chips. Except for the 88% of shares held by Maijie Investment, the remaining 12% of shares are owned by Hangzhou Lichen Enterprise Management.
Geely Maijie Investment was established on October 27, 2015, with Xu Zhihao as its legal representative and a registered capital of 433 million yuan. 55% of the company’s shares are owned by Ningbo Ruima Enterprise Management and 44.7% are owned by Geely Technology Group, Ltd. Specifically, Ningbo Ruima Enterprise Management’s 99.99% of shares are held by Eric Li, the Founder and Chairman of Geely.
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This is not the first time Geely has invested in the chip industry. Suzhou Photon Matrix, established in May 2021, is a company focusing on integrated circuit chip design and services. The legal representative of the company is Shen Ziyu, who is also the CEO of ECARX, a subsidiary of Geely. The company is actually jointly owned by Hubei ECARX and Shanghai Guangfei Enterprise Management. Most likely, the largest shareholder, ultimate beneficiary, and the suspected actual controller of ECARX is Eric Li.
In addition, Wuhan Lotus Technology was established in December 2022, focused on integrated circuit chip design and services. The entity’s legal representative is Feng Qingfeng, the vice president of Geely Auto Group and CEO of Lotus Group. Public information shows that Zhejiang Geely Holding Group holds 60% equity in the company.
