Shenzhen-listed Fastprint Circuit Tech’s shares gained by the daily trading limit yesterday after the chipmaker laid out plans to build an integrated circuit substrate plant in Guangzhou for about RMB3 billion (USD436.2 million.)
Fastprint Circuit (SHE: 002436) signed an agreement with the Guangzhou Economic and Technological Development Zone to set up production lines for integrated circuit substrate and relevant products. Investment in the plant, which is needed to both supply major global customers and meet future domestic demand, will be made in two phases of CNY1.6 million and CNY1.4 billion.
The company officially became a supplier to Samsung last year and its existing monthly output of 10,000 sqm of IC package substrate is already at full capacity and needs expanding. Readmore.