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HONG KONG, Feb 16, 2017 - (ACN Newswire) - Hua Hong Semiconductor Limited ("Hua Hong Semiconductor" or the "Company", together with its subsidiaries, the "Group"; stock code: 1347.HK), a global leading pure-play 200mm foundry, today announced that its financial IC card chips shipment has more than doubled in 2016, up to about 200 million, including chips for bank IC cards, as well as social security and health cards with financial payment function.
Compared with traditional magnetic cards, financial IC cards featuring an embedded chip for data storage deliver such features as high security, large memory and versatility, which will gradually replace traditional magnetic cards. Now, the People's Bank of China is vigorously promoting the EMV (Europay, MasterCard and Visa) migration. In 2015, total shipment of locally fabricated bank IC cards was about 6 million, less than 1% of the market capacity. As the local chip makers improved their technologies and acquired regulatory approval for their products, localization of bank IC cards had gained the initial momentum in 2016. As anticipated, locally produced chips will make bigger contribution to China's financial IC card segment in 2017.
A celebrated Chinese IC manufacturer with a proven track record of 20 years, Hua Hong Semiconductor possesses proven 0.13/0.11um Embedded Non-Volatile Memory (eNVM) process technologies that feature outstanding stability, reliability and radiation resistance, as well as low power. Building upon its process expertise, the Company stays on course of technical upgrade and innovation, introducing the more advanced 90nm eNVM process for reduced die size to deliver more leading and competitive solutions to customers. In 2016, the financial IC cards produced on Hua Hong Semiconductor's eNVM process platform acquired the prestigious CC EAL5+ and EMVCo security certificates as well as MasterCard CQM certification, proving that the Company's process for financial IC card chip and security management system have reached the internationally advanced level and gained worldwide recognition, laying a solid foundation for the Company to tap potentials in the local and international financial market.
"Remaining focused on financial IC cards for years, Hua Hong Semiconductor has shaped a 'Made in China' brand that delivers the unique benefits of technology plus quality service." Said Mr. Fan Heng, Executive Vice President of Hua Hong Semiconductor, "Building upon our advanced specialty eNVM process technology and constant pursuit of highest-quality chips for financial IC cards, we will embrace the market opportunities to deliver excellent and secure services to our partners in the local and international financial sector with robust and quality chips, and bring the 'Made in China' financial IC card chips to worldwide."
Topic: Press release summary
Source: Hua Hong Semiconductor
Sectors: Electronics, Daily Finance, Daily News
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From the Asia Corporate News Network
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