By Li Panpan

(JW Insights) Oct 17 -- Hong Kong Science and Technology Parks Corporation (HKSTP) and J2 Semiconductor (杰平方半导体) signed a memorandum of cooperation to establish a global R&D center focusing on third-generation semiconductors in the Hong Kong Science Park and open Hong Kong's first SiC 8-inch wafer fab, JW Insights learned.

In a partnership with the Hong Kong government, the total investment in the project is expected to reach HK$6.9 billion ($882.49 million). Its planned annual output is 240,000 silicon carbide wafers in 2028, with a yearly output value to exceed HK$11 billion ($1.41 billion). It will include chip and microelectronic product design, modularization, and production.

As one of the world's largest semiconductor import and export markets, Hong Kong is located at the core of the Greater Bay Area and has excellent potential to become a key hub for the global semiconductor supply chain and value chain, according to the local government.

Founded in October 2021 in Shanghai, J2 Semiconductor is a chip design company focusing on the research and development of automotive chips. It provides cutting-edge products such as high-performance silicon carbide chips and automotive Ethernet chips for power conversion and communications. It received investment from Xiaomi and other top investors, according to its website.