GalaxyCore has announced a private placement to raise up to RMB 4.2 billion from no more than 35 specific investors, issuing up to 390 million A‑shares. The plan is subject to shareholder approval, Shanghai Stock Exchange review, and CSRC registration.
Fund allocation:
RMB 3.0 billion – 12‑inch CIS specialty process expansion
RMB 500 million – High‑performance, high‑pixel image sensor R&D and industrialization
RMB 700 million – Working capital supplement
12‑inch CIS expansion project: Total investment RMB 6.132 billion, with a 3‑year construction period. The project will build new production lines on GalaxyCore's existing 12‑inch CIS R&D and wafer manufacturing platform, adding 10,000 wafers per month of CIS capacity. It aims to strengthen high‑performance CIS manufacturing, improve yield and cost control, and support high‑pixel product expansion – while enhancing domestic high‑end CIS process capabilities and supply chain autonomy.
High‑pixel sensor project: Total investment RMB 577 million, 4‑year construction period. GalaxyCore will target 100MP and 200MP CMOS image sensors for mid‑to‑high‑end flagship smartphones, plus non‑phone devices like pocket gimbals, action cameras, and panoramic cameras. The project will develop single‑die, stacked, and 3D‑stacked architectures, with R&D on ultra‑small pixel structures, high‑speed readout circuits, wafer‑level stacking, and on‑chip image processing.
Working capital: RMB 700 million to support ongoing operations. GalaxyCore's revenue CAGR from 2023–2025 was 28.71% , driving sustained demand for working capital.
The company states all projects focus on its core IC business, strengthening CIS wafer manufacturing and high‑end product capabilities, accelerating domestic substitution, and enhancing supply chain collaboration.
ICgoodFind Takeaway:
GalaxyCore's RMB 4.2B raise signals a major push into high‑end CIS – both capacity and pixel performance. For domestic image sensor supply, this could accelerate the shift toward higher‑resolution, flagship‑tier products.
