Wei Jianjun, Founder and Chairman of Great Wall Motor (GWM), Eric Li, Chairman of Geely, and Wang Chuanfu, Chairman of BYD, are all top executives of China’s leading new energy vehicle manufacturers. Compared with the heads of other domestic auto firms, Wei tends to operate in a very low-key manner, but the new energy business map he has been developing is impressive.
On October 21, GWM announced that it plans to use its own funds with Wei Jianjun and Wensheng Technology (Tianjin) Co., Ltd. to jointly establish Xindong Semiconductor Technology Co., Ltd., with registered capital of 50 million yuan ($6.85 million). Wensheng Technology, which is actually controlled by Wei Jianjun, has subscribed capital of 35 million yuan in the new company, accounting for 70% and making it the largest shareholder of Xindong Semiconductor.
According to a report by STAR Market Daily, in addition to holding a 99% share in Wensheng Technology, Wei Jianjun also indirectly holds shares in four related companies, including Hebei Synlight Semiconductor Co., Ltd. and Wuxi UtmoLight Technology Co., Ltd., all of which are new energy companies. It can be seen that Wei Jianjun’s layout in the field of new energy has grown to cover batteries, photovoltaics, semiconductors, automated driving and vehicles.
In October last year, Wuxi UtmoLight Technology, which focuses on photovoltaic perovskite, completed a pre-A round of financing totaling 220 million yuan. The investors included Country Garden Venture Capital, JZ Capital, CCB International and Yunlin Fund, while its controlling shareholder Wensheng Technology made additional contributions. In March this year, securities firm Huatai United Securities released a counseling report on the IPO of Hebei Synlight Semiconductor. The chip firm also signed an agreement with GWM at the end of last year, while the latter took a stake as the leading investor. GWM stated that this move means that it has “officially entered the third-generation semiconductor industry.”
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