On May 20, the major domestic CMOS image sensor (CIS) manufacturer Weil Co., Ltd. issued a series of announcements, involving board of directors' elections, company articles of association revision, stock option incentive plan, company name change and other contents.

It is worth noting that Shanghai Weil Semiconductor Co., Ltd. plans to change its name to Ouwei Integrated Circuits (Group) Co., Ltd., with the securities abbreviation changed from "Wel Co., Ltd." to "Ouwei Group", and the securities code remains unchanged. This marks that the company will focus more on the CIS image sensor business and regard it as its main strategy in the future.

Weil Co., Ltd. was established in 2007 and was initially engaged in the distribution of semiconductor products. In 2013, Weil Co., Ltd. integrated two physical companies with the main distribution business under the founder Yu Renrong, Hong Kong Huaqing and Beijing Jinghongzhi, and their main businesses were transformed into two aspects: component distribution and semiconductor discrete devices. In August 2014, Weil Co., Ltd. acquired 100% of the equity of Taihe Zhiheng and expanded its business to the SoC chip field; in 2015, Weil Co., Ltd. acquired Wuxi Zhongpuwei and further expanded to the RF chip track. In 2015, Weil Co., Ltd.'s revenue increased by 40.89% year-on-year.

In May 2017, Weil Co., Ltd. was listed on the main board of the Shanghai Stock Exchange. After its listing, although Weil Co., Ltd. has been committed to expanding its chip business, its main revenue is electronic component agents and sales. According to the financial report, in 2017 and 2018, the revenue share of this business accounted for as high as 69.9% and 79.01%.

Currently, the company is one of the top ten IC design manufacturers in the world, and its three major business systems include: image sensor solutions, display solutions and simulation solutions.