Yuanjie Semiconductor Technology (SHA:688498) will invest $50 million to establish a production base in the US, expanding its presence overseas, according to a Shanghai Stock Exchange disclosure on Tuesday.
The Chinese semiconductor chip manufacturer will inject the funds through its Singaporean subsidiary, Yuanjie Technology. The funds will be used entirely for its chip-making US subsidiary, YST Semiconductor Technology Corporation, and the production base.
The company's shares jumped 3% in recent trade.
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