JW Insights releases the Ranking of 86 overseas shareholder-held Chinese listed semiconductor companies by market cap

By Miranda Li

JW Insights released the Ranking of 86 Chinese semiconductor firms listed on the Shanghai Stock Exchange and Shenzhen Stock Exchange by the number and market capitalization of their overseas shareholdings on July 12.

The market cap of the 86 companies totals about RMB 93.286 billion ($13.88 billion), accounting for 2.32% of the total market cap of the 146 Chinese listed semiconductor stocks that JW Insights tracks as of June 30.

Will Semiconductor(韦尔半导体) tops the Ranking with a foreign shareholding market cap of RMB 10.963 billion ($1.6247 billion). 

Next is Zhonghuan Semiconductor(中环股份), RMB 8.964 billion ($ 1.3285 billion). 

The 3rd is NAURA (北方华创), RMB 6.992 billion ($1.0362 billion).

Among the 86 companies, 22 each have more than RMB1 billion ($148.8 million)  

Forty-one companies each have between RMB 100 million ($14.88 million) and RMB 1 billion ($148.8 million). 

The remaining 23 each have less than RMB 100 million($14.88 million).

In terms of the proportion of overseas holding shares in the circulating shares, there are three companies with overseas investors holding more than 10% of the companies’ circulation stocks: StarPower Semiconductor (斯达半导), 14.90%, Advanced Micro-Fabrication (中微公司), 10.34%, and Bright Power Semiconductor (BPS, 晶丰明源), 10.19%.

There are 11 companies of which the foreign-holding shares account for about 5% each. For another 23 companies, the foreign-holding shares account for 2% to 5% each. For the other 49 companies, foreign holdings account for less than 2%.

Compared with the beginning of 2022, overseas shareholdings increased in 48 of the 86 companies and decreased in 33.

Overseas holding shares increased by more than 200% in companies including Fenghua, Amlogic, Lion, China Resources Microelectronics, Bright Power Semiconductor (BPS), HC Semitek, SMIC international, Focus Lightings, Nata Opto-Electronic Material, and AccoTEST.

The number of overseas holding shares decreased by more than 50% in such companies as Shanghai Belling, Jingce Electronic, Goke Microelectronics, San’an Optoelectronics, Changsha Jingjia Microelectronic, and Trongly. 

For 39 companies, the market capitalization of overseas shareholdings increased, and 47 decreased.

The market capitalization of foreign shareholdings of Fenghua, Amlogic, Lion, China Resources Microelectronics, Bright Power Semiconductor (BPS), HC Semitek, and SMIC international increased by more than 200%.

The market capitalization of overseas shareholdings decreased by more than 50% in companies such as Shanghai Belling, Jingce Electronic, Goke Microelectronics, San’an Optoelectronics, Goodix Technology, Fullhan Microelectronics, Allwinner Technology, Trongly, Wingtech Technology, Will Semiconductor, and GigaDevice. 

Three companies newly received overseas funding include 3PEAK Incorporated, Shenzhen Sunmoon Microelectronics, and Hebei Sinopack Electronic Technology.

It is worth mentioning that as of June 30, the proportion of market capitalization of overseas shareholding to the entire A-share market capitalization was 2.82%, almost recovering to the level at the beginning of the year, 2.86%, with only a minor gap.

The proportion of overseas ownership of semiconductor shares to the total semiconductor equities in market value was 2.32%. Compared to 2.62% at the beginning of the year, there is a difference of 0.3 percentage points.

Mainland-Hongkong Stock Connect is a mutual stock market access mechanism that enables investors in the Chinese mainland and Hong Kong to trade eligible shares listed on the other’s market through their local securities companies or brokers.

The referred overseas investors mean the investors who have a Hong Kong stock account and buy Chinese mainland stocks through the Mainland-Hongkong Stock Connect. The overseas investment, or foreign shareholdings, or overseas shareholdings is calculated based on the trade of overseas investors clarified above.