CanSemi jumps 270% in Shenzhen IPO, hitting $19.4B market cap
What's the deal? CanSemi listed on the Shenzhen Stock Exchange's ChiNext board on October 13 at US$1.65 per share, then surged more than 270% at the open. That pushed its market capitalisation to nearly US$17.9B, making it the first wafer fabrication company to list on ChiNext and Guangzhou's largest chip IPO of 2026.
Why now? The Pearl River Delta hosts dense clusters of smartphone, home appliance, and automotive manufacturers, yet long lacked local 12-inch wafer capacity. CanSemi targeted that gap, focusing on mature process nodes from 180nm to 55nm for analog chips, power devices, and silicon photonics.
What's the endgame? Founded in late 2017 in Guangzhou's Huangpu district by Chen Wei and Li Yongxi, the company went from groundbreaking to mass production in 18 months. It became the Greater Bay Area's first 12-inch wafer fab to reach volume output.
By the numbers: Revenue grew from US$143.6M in US$278.2B to US$355M in 2025. Cumulative losses topped US$893.8M, and profitability is not expected until 2029.
Who cashed in? Guangdong state capital backed every funding round, including Science City GroupDealroom has a profile for this one. Try Dealroom →, the Guangdong Semiconductor and Integrated Circuit Industry Investment FundDealroom has a profile for this one. Try Dealroom →, Guangzhou Industrial InvestmentDealroom has a profile for this one. Try Dealroom →, Yuexiu Industrial FundDealroom has a profile for this one. Try Dealroom →, Guangdong Finance Holdings, GAC CapitalDealroom has a profile for this one. Try Dealroom →, and SDIC Venture CapitalDealroom has a profile for this one. Try Dealroom →. Science City Group alone sits on paper gains exceeding US$1.38B.
The signal: CanSemi's rise has drawn nearly 150 upstream and downstream companies to Guangzhou, making it a landmark case in the Greater Bay Area's semiconductor catch-up race.
Read more: finance.biggo.com
Image credit: CanSemi
