- More than 20 chip companies have secured fresh funding this year, while nearly 10 are pursuing public listings
- Backed by policy support and demand for domestic alternatives, firms across the supply chain are expanding capacity
Jiangsu’s semiconductor sector is experiencing a wave of fundraising and IPO activity, with more than 20 chip companies securing financing this year and nearly 10 lining up for public listings, according to a report by China’s state-run Xinhua Daily.
The province’s semiconductor firms raised an average of more than 100 million yuan ($14.76 million) per deal, with several transactions exceeding that threshold.
Meanwhile, four of the 14 Jiangsu companies that have listed on China’s A-share market this year come from the semiconductor industry.
The biggest semiconductor financing
Among the largest deals, Wuxi-based Pioneer Semiconductor Research (无锡研微半导体) completed a nearly 700 million yuan Series A round in February, the biggest semiconductor financing in Jiangsu so far this year.
Founded just over three years ago, the company has achieved repeated deliveries of its self-developed thin-film deposition equipment, attracting backing from a number of leading domestic investors.
Suzhou-based Macrocore Semiconductor (中瑞宏芯半导体) announced a Series B+ round worth more than 100 million yuan on March 17.
Rather than traditional venture capital firms, the backers included analog chipmaker Novosense (纳芯微) and charging-module manufacturer UUGreenPower (优优绿能), signaling support from companies across the semiconductor value chain.
Other notable transactions include a 150 million yuan Series B+ round completed in May by Smartvision (芯视半导体), a silicon-based microdisplay supplier that has emerged as a leading domestic player in the segment.
The IPO pipeline
On the IPO front, Jiangsu Changjing Electronics Technology (长晶科技) received approval from the Shenzhen Stock Exchange to proceed with a main-board listing application on June 10.
The power semiconductor company is among the few domestic discrete-device manufacturers operating an integrated device manufacturer, or IDM, model. Shareholders include Xiaomi, Gree, OPPO and Transsion.
Suzhou-based Watech Electronics (华太电子) also saw its IPO application accepted by the Shanghai Stock Exchange in May. The company has shipped more than 200 million radio-frequency devices and supplies products to the world’s six largest telecommunications base-station equipment vendors.
The high-flyers
Among newly listed firms from Jiangsu, Semight Instruments (联讯仪器) has drawn particular attention due to its stock performance since the April debut on Shanghai’s STAR Market. The company now commands a market capitalization of about 24.9 billion yuan.
Jiangsu’s IPO candidates span a broad range of semiconductor segments, including equipment components, wet-cleaning systems, metrology equipment, power semiconductors and semiconductor materials, reflecting one of China’s most complete chip industry ecosystems.
Policy-led momentum
The momentum comes as integrated circuits receive growing policy backing. Jiangsu’s 2026 government work report identified semiconductors as the leading sector among six emerging pillar industries. Following this policy move, the provincial science and technology department has designated integrated circuits as one of eight priority research areas.
The province’s semiconductor industry has developed around core hubs in Nanjing, Suzhou and Wuxi, supported by secondary clusters in cities such as Yangzhou, Nantong and Taizhou.
Most of the companies raising capital or pursuing listings have positioned domestic substitution as a key strategic focus.
Industry observers say the combination of policy support and market demand could help accelerate technology development and capacity expansion across the sector.
