At the semi-annual results meeting on September 10, Wang Bing, chairman and general manager of Zhenbao Technology, explained when discussing overseas customer development that the company follows a “three-step” strategy: based on domestic and foreign fabs, steadily nurturing overseas customers, and promoting a medium- to long-term international layout. The company has a wholly-owned subsidiary in Singapore. With the Singaporean market as the core, it has achieved stable supply to UMC, GF and other manufacturers, while developing the Southeast Asian market. Overseas revenue growth rate exceeds 170% year on year, but most of its revenue still comes from domestic sources. If we only count revenue from the overseas market, the share of overseas revenue in the first half of 2026 was only 1.40%. Affected by geopolitical factors, some overseas customers have yet to make batch purchases. In the future, depending on business development, the overseas layout will be assessed in due course to meet local supply chain requirements; if the production capacity of domestic overseas manufacturers is included, the total related revenue accounts for about 10%, mainly because the domestic market is growing faster.

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