By Li Panpan

(JW Insights) Apr 20 --Chinese IC company Sien IDM (芯恩) received subscribed capital of approximately RMB2.038 billion ($295.76 million) from Qinluhongchuang Technology, increasing its registered capital to RMB10.06721 billion ($1.46 billion), JW Insights learned from Tianyancha, Chinese corporation data and due diligence platform.

Qinluhongchuang Technology, which holds 20.24% shares of Sien IDM with the funding, is believed by a subsidiary of the Qingdao State-owned Assets Supervision and Administration Commission, as shown on Tianyancha.

Sien IDM’s shareholder Qingdao Aucma Yunlian Information Technology increased its registered capital to RMB5.747 billion ($834.87 million), accounting for 57.09% of all shares.

Founded in April 2018 in Qingdao, eastern China’s Shandong Province, Sien IDM provides IC & discrete device products and services for markets of consumer electronics, industrial control, and the Internet of Things.

It’s also worth noticing that Sien IDM was on the list of enterprises with potential in 2022, released by the local government recently.