Yongsi Electronics' 800 million high-density integrated circuit and module packaging project for communications received financing

On May 25, the "2020 Syndicated Financing Project Signing Ceremony" of Yongsi Electronics (Ningbo) Co., Ltd. was held.

It is reported that Yongsi Electronics has signed a syndicated financing project with a bank consortium led by Bank of Communications for a total amount of RMB 560 million. All funds will be used for the construction of Yongsi's 800 million packaging project.

According to official news from Yongsi Electronics, the signing of this syndicated project financing will timely and effectively guarantee the needs of Yongsi Electronics' annual production of 800 million high-density integrated circuits and module packaging projects for communications. Wang Shunbo, general manager of Yongsi Electronics, said that in 2020, Yongsi Electronics will continue to work hard to focus on mid-to-high-end semiconductor chip packaging and testing, and provide high-quality packaging and testing turnkey services for domestic and international first-class customers.

Yongsi Electronics is a semiconductor packaging and testing company. It was established on November 13, 2017 and started a high-end IC packaging and testing project in December of the same year. The project completed the preliminary preparations such as factory decoration, equipment procurement and commissioning, and product samples in more than 5 months. On June 1, 2018, the first batch of packaging and testing projects of Yongsi Electronics was successfully launched.

At the opening ceremony of Yongsi Electronics on October 23, 2018, Wang Shunbo, general manager of Yongsi Electronics, said that Yongsi Electronics plans to invest 2.2 billion yuan in the "annual production of 2.5 billion high-density integrated circuits and module packaging projects for communications" within five years.

It is reported that Yongsi Electronics achieved profitability 18 months after its establishment, and its cumulative shipments in 2019 reached 1 billion units.

The "Annual production of 800 million high-density integrated circuits and module packaging projects for communications" may be part of the "Annual production of 2.5 billion high-density integrated circuits and module packaging projects for communications."

Han Baishun, member of the Yuyao Municipal Party Committee and director of the Sino-Italian Ningbo Eco-Park Management Committee, said at the signing ceremony that the successful signing of the Yongsi Electronics syndicated project provided strong financial support for the company's next development and laid a solid foundation for the company's continued growth and strength.