(Yicai Global) Dec. 11 -- Capchem Technology will build a CNY70 million (USD10.7 million) ultra high purity process chemical plant in southeastern Jiangsu province to meet growing demand for ever finer chemicals used in the manufacture of increasingly complex semiconductor wafers.

The new production facility in Nantong will have an annual output of 15,000 metric tons of super purified ammonia and 10,000 metric tons of buffered oxide etchant compounds, the Shenzhen-based firm said yesterday.

Construction is expected to take one year, it said. The project should bring in net profit of CNY21 million (USD3.2 million) a year and revenue of CNY146 million, it added.

Capchem’s stock [SHE:300037] was trading down 0.36 percent at CNY97.28 (USD15) at 1:45 p.m. China time. It reached an all-time high of CNY102.88 on Dec. 7. The company’s share price has gained four-and-a-half fold since June 2019.

Editor: Kim Taylor