SHANGFENG CEMENT(SZ:000672) Zheng Quan Ri Bao·2025-10-14 13:08Core Viewpoint - Gansu Shafeng Cement Co., Ltd. is actively investing in the semiconductor sector, marking a strategic shift towards high-tech industries, with a recent investment of 53.2 million yuan in a private equity fund aimed at supporting Hefei Xinfeng Technology Co., Ltd. [1] Investment Details - The company plans to invest 53.2 million yuan through its wholly-owned subsidiary, Ningbo Shangrong Logistics Co., Ltd., to establish a private equity fund, Suzhou Qihong Venture Capital Partnership, which will invest 50 million yuan in Xinfeng Technology, acquiring a 7.17% stake [1] - This investment follows a previous investment in Jiangsu Xinhua Semiconductor Technology Co., Ltd., indicating a focused strategy on the semiconductor industry [1] Company Background - Xinfeng Technology, established in November 2019, specializes in DRAM packaging and testing, primarily serving Changxin Storage Technology Co., Ltd., which accounts for over 99% of its revenue [2] - The close geographical proximity of Xinfeng Technology and Changxin Storage facilitates a "zero-distance" supply chain collaboration, enhancing operational efficiency [2] Strategic Implications - Hefei Xinhui Cheng Microelectronics Co., Ltd. is a key player in this investment, becoming the largest shareholder of Xinfeng Technology through acquisition, which aligns with Hefei's strategy to develop an integrated semiconductor ecosystem [3] - The investment by Shafeng Cement is part of a broader strategy to diversify its business model, aiming to cultivate a second growth curve by investing in high-end manufacturing sectors like semiconductors and new energy [3][4] Financial Commitment - Shafeng Cement has already invested 200 million yuan directly and indirectly in Changxin Technology, with total investments in new economy sectors reaching approximately 2 billion yuan [4] - This strategic investment approach complements the company's stable cash flow from its core cement business, providing a pathway for transformation and upgrading [4]