Ziguang Zhanrui responded to 10 billion yuan financing: it will further expand automotive electronics, intelligent display and other emerging fields.

CTOnews.com February 14 news, previous sources said that Ziguang exhibition sharp plans to raise 10 billion yuan, is expected to determine the list of investment institutions in mid-late March to June, and complete this round of financing in mid-June.

In response to this rumor, Ziguang Zhanrui officially responded to a reporter from Science and Technology Innovation Board Daily: "this financing is mainly aimed at market-oriented investment institutions, and the financing scale is planned to be no more than 15 billion yuan. The recruitment of funds will serve the company's development strategy, further expand automotive electronics, smart display and other emerging areas on the basis of consolidating and upgrading the existing mobile phone and Internet of things business.

Ziguang Zhanrui also said: "adhere to the principle of market-oriented and international development, 80% of the company's products are sold overseas, and its business covers more than 130 countries and regions around the world. Zhan Rui is willing to work with global partners and market-oriented professional investment institutions to continue to develop innovative technologies and products, and actively promote high-quality development of the industry."

According to IT House, Ziguang Zhanrui, headquartered in Shanghai, competes with Qualcomm, MediaTek and Samsung in the field of mobile phone chips, and operates in 133 countries.

According to Counterpoint Research, Ziguang's share of the global mobile processor market increased to about 10 per cent by 2022. In a statement on February 8, Ziguang Zhanrui added that revenue had reached 14 billion yuan by 2022, Reuters said. The company's revenue in 2021 was 11.7 billion yuan, according to a statement in July 2022.