Puya Semiconductor (Shanghai) · 普冉半导体（上海）股份有限公司

Fabless

The textbook double-case of 2025-26 fabless China: buying a distressed global asset to jump product tiers (SHM = ex-SK Hynix 2D NAND carve-out, world #4 SL…
Published

October 11, 2026

Chinese name: 普冉半导体（上海）股份有限公司 (Pǔrǎn)

TipWhy This Matters

The textbook double-case of 2025-26 fabless China: buying a distressed global asset to jump product tiers (SHM = ex-SK Hynix 2D NAND carve-out, world #4 SLC NAND — the 51% cash purchase closed November 2025 and the ¥23.46亿 H1 consolidated contribution proves the thesis), then riding the AI memory supercycle — H1 2026 revenue ¥39.59亿 (+336.7%) and net ¥8.27亿 (+1930%), versus FY2025 ¥23.20亿/+28.6% with profit down. The remaining 49% (¥2.47bn in shares+convertibles+cash) goes to the SSE’s M&A restructuring committee on 14 October 2026, the clearest near-term test of how domestic consolidation deals clear review. Its MCP modules already ship into HP/Motorola/Cisco/Bosch chains.

What does this firm design?

NOR/EEPROM/SLC-NAND/eMMC/MCP memory and general/motor MCUs, camera VCM/OIS drivers.

Key Facts

Category Fabless
Founded 2016
Location Shanghai, Shanghai Municipality
Product Focus NOR flash (global #5, 550M+ units 2025), EEPROM (leader in phone-camera VCM), MCUs, VCM/OIS drivers; SLC NAND/eMMC/MCP via the SHM acquisition
Node Sophistication 40nm/4x-nm specialty NOR+MCU (2nd-gen SONOS, 3rd-gen ‘40E’ in production); mature-node capacity scarcity (SMIC/Hua Hong) is its stated pricing driver
Entity List No
Last Verified Newest source dated 18 Aug 2026 (2 sources)

Design Score

3.8/5

Sources

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