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

Sep 03, 2021, 19:05pm2021/09/03 20:05:17 Pandaily

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<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> Industrial Fund Co., Ltd.. Tianjin Sankuai Technology Co., Ltd. is an affiliated company of Meituan<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> 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<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> Technology Co., Ltd.

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<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> and the founder of Will Semiconductor.

It is reported that Meituan<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> has three major investment institutions: its flagship brand Meituan<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder />, Meituan<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> Dragon Ball and Meituan<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> Zhantou. From June to September this year, Meituan<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> has invested in five chip companies.