Universal Scientific Industrial (Shanghai) Co., Ltd. (USI, 环旭电子) plans to inject USD 120 million of internal funds into its wholly owned Vietnamese subsidiary to support a proposed second manufacturing site in Haiphong, northern Vietnam.
Universal Scientific Industrial
In a filing published on Aug. 27, USI said its board approved the investment on Aug. 25. The capital increase would lift the registered capital of Universal Scientific Industrial Vietnam Company Limited from USD 115 million to USD 235 million. The Vietnamese company will remain wholly owned through USI’s wholly owned subsidiary, Huanhong Electronics Co., Ltd.
USI said the funds are intended mainly for the planned expansion in Haiphong’s Trang Due Industrial Park and for capital expenditure associated with additional capacity. The company plans to acquire land, build a new factory and purchase production equipment. The project remains subject to relevant procedures and faces market, policy and operational risks, according to the filing.
The investment concerns a proposed second facility, rather than an expansion of USI’s existing Vietnam plant. USI’s first Southeast Asian production base, in Haiphong’s Dinh Vu Industrial Zone, broke ground in 2020 and began producing System-in-Package (SiP) modules for wearable devices in July 2021.
USI said its Vietnam subsidiary has become an important delivery base for smart-wearable SiP modules, industrial products and expanding optical-communications output. In December 2025, the company said its Haiphong facility had generated more than USD 800 million in revenue during that year from smartwatch SiP modules and industrial products; this was a company disclosure, not a separately audited site-level result.
USI is listed in Shanghai and is a subsidiary of ASE Technology Holding. It provides electronic design and manufacturing services across sectors including communications, computing and storage, consumer electronics, industrial applications and automotive electronics.
The transaction adds capital to a Vietnamese unit that is already in operation while preparing capacity for future customer demand. It does not, by itself, establish that the new Trang Due plant has started construction, secured production orders or entered commercial operation. Nor does USI’s filing identify tariffs or geopolitical risk as the stated reason for the investment.
For the regional electronics supply chain, the decision is most clearly a capacity-and-delivery move: USI is seeking to add owned manufacturing capability in Vietnam as its existing Haiphong operation handles wearables, industrial products and optical-communications expansion. The next milestones to watch are land acquisition, construction approvals, equipment installation and the start of production.
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