Xiamen Hengkun New Material Technology is listed on Nov 18. [Photo/WeChat account of Xiamen FTZ]
Xiamen Hengkun New Material Technology, funded by the sub-fund under the Xiamen Free Trade Zone Industry Guidance Fund, was listed on the tech-focused STAR Market of Shanghai Stock Exchange on Nov 18, becoming the first A-share listed company in Xiamen this year and boosting the development of the semiconductor industry.
Founded in 2004, the company mainly engages in the research and development, production and sales of photoresist materials and precursor materials, which are indispensable for the integrated circuit wafer fabrication. Its revenue has reached 548 million yuan ($77 million) in 2024.
The company's listing reflects the Xiamen FTZ Industry Guidance Fund's achievements in technological innovation and strategic plans for investing in emerging industries.
The Xiamen FTZ Industry Guidance Fund was established in 2016. So far it has invested over 2 billion yuan in 31 sub-funds, bringing the total size of sub-funds to more than 55.5 billion yuan and leveraging social capital 27-fold. Its sub-funds have invested in more than 380 projects, among which 48 projects have achieved initial public offerings (IPOs). What's more, over 1.1 billion yuan has been invested into 38 projects in Xiamen.