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Representatives of Semiconductor Manufacturing Electronics (Shaoxing) strike a gong during the company's debut at the Shanghai Stock Exchange on May 10. [Photo/WeChat account: sxfabu]

Semiconductor Manufacturing Electronics (Shaoxing) Corporation (stock code: 688469) was listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange on May 10.

The company issued 1.95 billion shares at a price of 5.69 yuan (81.33 cents) per share, raising nearly 10 billion yuan and setting a record for the amount of funds raised by listed companies in Shaoxing.

Founded in March 2018, the company is a leading domestic analog circuit chip and module foundry enterprise. Its wafer manufacturing and packaging testing technology capabilities in power devices and micro-electromechanical sensors are at the global cutting edge. Its products are widely used in artificial intelligence, mobile communications, new energy vehicles and power grids.

Shaoxing Mayor Shi Huifang congratulated the company, saying that as a leader in Shaoxing's integrated circuit industry, the company has made significant breakthroughs in building a complete manufacturing platform, improving independent research and development capabilities.