By Gabby Chen

Chinese semiconductor conglomerate Tsinghua Unigroup established Ziyue Semi (紫粤半导体), a new chip company with 80% equity ownership, according to the information revealed in China's enterprise data service platform Tianyancha (天眼查), JW Insights reported on December 22.

The new company has a registered capital of RMB100 million ($14.32 million) and the other 20% owner is GBA SIG (湾区半导体).

Ziyue Semi's business scope covers software services, IC chip design, manufacturing, sales and other related services, according to Tianyancha.

Founded in 1988, the Beijing-based Tsinghua Unigroup went bankrupt last year and was acquired by the new owner of Wise Road and JAC Capitals.

The company had previously had plans for chip and cloud network business. But its high debt suspended its execution before completing the judicial process of bankruptcy reorganization this July, said the JW Insights report.