Representatives of Fosun Group and Hefei High-tech Zone sign the agreement. [Photo/WeChat ID: hefeigaoxinfabu]

With a total investment of 800 million yuan ($112.06 million), Chinese diversified multinational conglomerate Fosun Group signed up to settle the headquarters of its subsidiary Genesys Microelectronics in the Hefei High-tech Zone – located in Hefei city, capital of East China's Anhui province on Nov 21.

Before the signing ceremony, the two sides held talks on expanding cooperation in various fields to achieve mutually beneficial development.

Genesys Microelectronics plans to invest a total of 800 million yuan to build a headquarters in Hefei as a center for its overall business operations, original equipment manufacturer or OEM customer expansion, strategic planning, application solution developments and global services.

Mainly engaged in the research and development of automotive intelligent cockpits and autonomous driving chips, the center is expected to provide a range of solutions. These will be based on high-performance chips for automotive electronics, AI and general computing with leading chip design capabilities and artificial intelligence algorithms.

The company is mainly engaged in the research and development of automotive intelligent cockpit and ADS/ADAS chips, in a bid to promote the development of the automotive industry and enhance people's travel experiences.