CoAsia Receives $100M Turnkey Order In China's AIoT Sector
CoAsia's System Semiconductor Division (CoAsia SEMI) announced on the 10th that it has won an AIoT (Artificial Intelligence of Things) turn-key project worth up to about 100 million dollars (about 132 billion won).
The customer is a Chinese AIoT system semiconductor company that has been selected as a potential unicorn by the Chinese government, and is a company in which China's Ping An (中国平安, PING AN) is participating as a strategic investor. CoAsia decided not to disclose further details in response to the client's trade secret request.
This project is evaluated as the result of CoAsia's active sales offensive so that the customer can choose Samsung Foundry instead of Taiwan's TSMC, which was its main partner.
In the second half of last year, CoAsia secured a large number of potential customers by dispatching elite members such as system semiconductor technology marketing to major cities in China, despite the high uncertainty environment such as China's corona blockade measures, and an opportunity for re-opening due to China's quarantine policy easing. It is of great significance that it led to a turnkey order.
Sales recognition of this project may vary depending on success, such as chip development and approval for mass production, but CoAsia will recognize the development cost of about 10 million dollars (about 13.2 billion won) as sales according to milestones (progression rate), and mass-produce Samsung foundry chips in 2025 It is expected to achieve up to about $ 100 million in sales over the next four years from the start of the city.
With this, CoAsia has already secured its second TSMC customer as Samsung Foundry this year alone, following Japanese company Sukuearuto in February. TSMC's sales last year were about NTD 2.264 trillion, of which China accounted for about 11% (NTD 245.2 billion). This is an increase of about 49% compared to about NT$ 164.6 billion in 2021.
Source: Electronic Newspaper Internet Reporter Heewon Seo (email@example.com)