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China chipmaker CanSemi raises $672m to boost output

Company wants to build new production facilities to supply south of country

China's CanSemi Technology has raised around $672 million to fund the construction of new facilities and expand its production.  (Screenshot from CanSemi website)

HONG KONG -- China's CanSemi Technology has raised 4.5 billion yuan (about $672 million) in a new funding round to invest in the construction of new facilities and expand its production of industrial and automobile chips.

CanSemi, which focuses on the mass production of 12-inch silicon wafers, secured the fresh capital from investors including Guangzhou Yuexiu Industrial Investment Fund Management, the private equity unit of Chinese listed company Yuexiu Financial Holdings.

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