[News] China No.3 Foundry Nexchip Reportedly Files for Hong Kong Listing as Domestic Mature-Node Expansion Gains Pace

China’s push for chip self-sufficiency is advancing, as a major domestic foundry moves toward a Hong Kong listing. According to The Next Web, Nexchip Semiconductor filed for a listing on the Hong Kong Stock Exchange on Tuesday. The Hefei-based foundry, China’s third-largest after SMIC and Hua Hong, is seeking a dual listing alongside its existing Shanghai shares, a move aimed at tapping international capital to support a large-scale industrial expansion.

As the report highlights, the filing comes just weeks after Nexchip completed full-process development of its 28nm logic platform, a milestone announced on March 11 that signals its move into higher-value chipmaking. Until recently, its core capabilities were concentrated in the 55nm to 150nm range, typically used for display drivers, power management ICs, and image sensors. The shift to 28nm marks a notable step up within the mature-node landscape, positioning Nexchip to tap demand from AI-enabled smartphones, smart vehicles, and OLED display panels.

The Hong Kong filing places Nexchip within a broader wave of Chinese semiconductor listings. As noted by The Next Web, Biren Technology surged nearly 120% on its Hong Kong debut earlier this year after raising HK$5.58 billion. Baidu’s chip unit Kunlunxin has also filed confidentially, while GigaDevice Semiconductor is targeting a HK$4.68 billion raise.

Nexchip Listing Backed by Expansion Push

The scale of funding required helps explain Nexchip’s Hong Kong listing. According to the report, the company broke ground in January on its Phase IV project in Hefei’s Xinzhan High-Tech Zone, a RMB 35.5 billion ($5.1 billion) investment that will add a new 12-inch fab with a designed monthly capacity of 55,000 wafers at the 40nm and 28nm nodes. Equipment installation is scheduled for the fourth quarter of this year, with initial production to follow and full capacity targeted by the second quarter of 2028.

According to TrendForce, Nexchip ranked ninth among the global top 10 foundries by revenue in 4Q25, ahead of Taiwan’s PSMC, with revenue down 5.3% QoQ to $388 million. The decline was attributed to the company’s decision to defer shipments of certain products to 1Q26 after meeting its 2025 shipment and revenue targets.

Separately, the company has announced a 10% increase in foundry fees starting June 2026, as 8-inch capacity tightens and costs rise, according to TechNews.

China Strengthens Mature-Node Position Through Expansion and Consolidation

The mature-node segment, where Nexchip is positioned, represents one of the more coherent areas of China’s semiconductor strategy. According to TrendForce’s latest research, China accounted for 22% of mature-node capacity in 2021, with its share projected to reach 53% by 2030.

China’s mature-node expansion is also extending beyond capital investment. As The Next Web notes, consolidation among domestic foundries is accelerating. SMIC recently acquired the remaining 49% stake in its mature-node subsidiary SMIC North for $5.7 billion, while Hua Hong absorbed Shanghai Huali Microelectronics for $1.2 billion, adding 38,000 12-inch wafers per month of capacity at the 65nm to 40nm nodes.

Read more

• [News] China’s No.3 Foundry Nexchip to Hike Prices 10% from June, Following SMIC, Hua Hong
• [News] NexChip, Silan and Hua Hong Step Up Efforts in Advancing Mature-Node Foundry

(Photo credit: Nexchip)