[2][3][4] In May 2015, Nexchip was originally established as a joint venture between Taiwanese company Powerchip and the Hefei City Construction and Investment Holding Group, a state-owned enterprise.

Its founder, Michael Tsai had previously served as President of Powerchip and had also held senior position at other Taiwanese technology companies.

According to Tsai, Nexchip was founded on the advantages of the local industrial supply chain, driven by BOE Technology to become the world's leading Display Driver ICs (DDI) chip foundry.

[2][3][5] In response to the United States New Export Controls on Advanced Computing and Semiconductors to China, anonymous sources have reported that Nexchip was purchasing everything it could including second-hand tools to keep its fabs running.

It is now in the risk-taking phase of mass production of 55 nm nodes Apart from the DDI sector, Nexchip is also involved in microcontrollers, CMOS Image sensors and Power Management ICs.