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Forehope Electronic announced plans to establish a new manufacturing facility in Malaysia, investing approximately CNY2.1 billion (USD300 million) to expand its international footprint and strengthen its position within the industry.
The upcoming plant will be situated in Penang and will focus on producing products related to Artificial Intelligence of Things, power modules, and various other sectors. Currently, the project is in the early planning stages, with specific details such as production capacity yet to be revealed.
Penang is a key center for the semiconductor sector in Malaysia, hosting numerous global chip manufacturers. Leveraging this strategic location, the new factory aims to capitalize on the local industry landscape, deepen strategic relationships with major international clients, and increase its market share in global IC packaging and testing services.
Forehope Electronic mainly offers packaging and testing solutions for integrated circuit designers, generating revenue through processing fees. The company’s chip packaging volume saw a 45% increase in 2024, reaching 5.19 billion units compared to the previous year.
In 2024, overseas sales revenue exceeded CNY624.3 million (USD89.5 million), representing 18% of total revenue, up from 7% in 2023, according to its annual financial report.
The company’s stock closed today at CNY41.63 (USD5.97), up 0.2%. Despite the slight increase, the broader Shanghai Stock Exchange Science and Technology Innovation Board Composite Index dropped by 2.7%. Since the end of last year, the stock has risen 28%, reaching its highest point since July 2023.
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