Biwin Storage will spend CNY4.5B, about $672M, on a third phase of wafer-level advanced packaging and testing in Dongguan, the latest Chinese bet on the packaging steps that AI accelerators depend on.
The Shenzhen-listed memory maker and its subsidiary Guangdong Xincheng Hanqi plan to sign the agreement with the Songshan Lake High-tech Industrial Development Zone. Fixed-asset investment accounts for CNY4B of the total, and the project needs no new land. Biwin expects monthly wafer-level capacity of 5,000 wafers by the end of 2026 and 10,000 by the end of 2027, funded from internal resources and self-raised capital.
The earlier phases, with combined spending of CNY3.09B, have yet to produce mass-production revenue. Packaging is where the margin sits: the advanced packaging business ran a gross margin of 50.31 percent in the first half, well above the company average. Biwin reported first-half revenue of CNY15.575B and net profit of CNY7.166B, yet its shares are down more than half from their peak.
