SHANGHAI: Chinese chipmaker Loongson Technology is banking on its upcoming initial public offering (IPO) in Shanghai to beef up its research and production of advanced semiconductor technologies. Loongson’s plans dovetail with Chinese technology companies’ efforts to strengthen the security of supply chains and achieve self-sufficiency in crucial technologies. Loongson’s journey as a business started in 2001 with a research team under the Chinese Academy of Sciences. The rest of the proceeds, expected to be around 1.2 billion yuan (RM771mil), might be used as liquid capital. Loongson’s 2020 revenue hit 1.08 billion yuan (RM694mil), a five-fold increase from 2018.

Source: The Star July 02, 2021 01:18 UTC