Vertical Divider
Kushan Government Takes Control of Visionox Shares
At the beginning of March, Visionox’ stock was suspended from trading on the Shenzhen Stock Exchange for up to 5 days, as the company was notified by its largest shareholder, Tibet Zhihe Capital Management that it would be transferring its shares to Visionox’s 2nd largest shareholder, the Kunshan Economic & Technological Development Zone, a city run management company that administers the special economic zone in Kunshan. The company confirmed the transaction and the stock reopened limit up, although the stock returned to pre-announcement levels today. Visionox is dependent on local government subsidies for both expansion and operations and will continue to be as new capacity comes online and begins depreciation. Visionox’ slow sales are likely the cause for the ownership change, just as yields are improving and the company adds another Gen 6 fab.
At the beginning of March, Visionox’ stock was suspended from trading on the Shenzhen Stock Exchange for up to 5 days, as the company was notified by its largest shareholder, Tibet Zhihe Capital Management that it would be transferring its shares to Visionox’s 2nd largest shareholder, the Kunshan Economic & Technological Development Zone, a city run management company that administers the special economic zone in Kunshan. The company confirmed the transaction and the stock reopened limit up, although the stock returned to pre-announcement levels today. Visionox is dependent on local government subsidies for both expansion and operations and will continue to be as new capacity comes online and begins depreciation. Visionox’ slow sales are likely the cause for the ownership change, just as yields are improving and the company adds another Gen 6 fab.
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