On December 22, 2014, SilTech Shanghai, one of SMIC's indirectly wholly owned subsidiaries; JCET; and China IC Fund entered into a co-investment agreement to form a consortium regarding the proposed acquisition of STATS ChipPAC, a provider of advanced semiconductor packaging and test services incorporated in Singapore, shares of which were listed on the Singapore Exchange Securities Trading Limited before the acquisition. On June 18, 2015, according to the co-investment agreement, SilTech Shanghai invested US$102 million as a capital contribution for 19.6% ownership interest in Changjiang Xinke, a company incorporated in Jiangsu province, China, which is accounted as an associate of the Group.