WND sees first company with market value over 100b yuan

China Resources Microelectronics Limited (CR Micro), located in the Wuxi National Hi-tech District, reported 100.2 billion yuan ($15.51 billion) in market value on June 15.

The company was listed on the Shanghai Stock Exchange's sci-tech innovation board, commonly known as the STAR market, on Feb 27, 2020 with an issue price of 12.8 yuan per share.

The company's closing price hit 75.9 yuan per share on June 15, making it the first listed company in the WND with a market value of over 100 billion yuan, as well as the third such company in Wuxi.

CR Micro was the first red chip enterprise to be listed on the Shanghai Stock Exchange and the first company in Wuxi to be listed on the sci-tech innovation board after the Spring Festival holiday in 2020.

In April, CR Micro raised 5 billion yuan in funds through private placement, which will mainly be used to support its power semiconductor packaging and testing base project.

The company also realized 21 percent year-on-year growth in its operating income and a 140 percent year-on-year growth in net profits in 2020, while its market value nearly doubled.

CR Micro is a high-tech enterprise under the control of China Resources (Holdings) Co Ltd (CR). It is involved in investment, development, and operations management of microelectronics businesses. It is also one of the largest and most influential comprehensive microelectronics enterprises in China.