Shanghai (ZXZC)- Guangdong Xinyueneng Semiconductor Co.,Ltd., a semiconductor developer whose 40% stake is indirectly owned by Geely, was founded on May 17, marking Geely's new deployment of semiconductor business.

Photo credit: Geely Holding

The newly-built company involves a registered capital of 400 million yuan ($62.127 million) and its business scope extends to cover the design, manufacturing and sale of integrated circuits, and the manufacturing of discrete semiconductors, according to Tianyancha, a Chinese business information provider.

As for the equity structure, 40% equity interests of in Guangdong Xinyueneng is held by Viridi E-Mobility Technology (Ningbo) Co.,Ltd., a sub-subsidiary wholly owned by Geely Auto Group.

According to Tianyancha, two chip companies affiliated with Geely was set up over the past six months. The one is named Suzhou Guangzhiju Optoelectronics Technology, which was established on May 6 and focuses on the design and services related to integrated circuits. Its legal representative is Shen Ziyu, CEO of ECARX, a Geely invested company developing smart and connected vehicle technologies.

At the end of 2020, Wuhan Lotus Technology Co.,Ltd. was set up to work on the design and services of chips as well. Feng Qingfeng, vice president of Geely Auto Group and CEO of Group Lotus, serves as its legal representative. Besides, Zhejiang Geely Holding Group owns 60% equity interests in the chip company.