On February 20, the investment community reported that according to a hard krypton report, Shenzhen Zhongji New Materials *** hereinafter referred to as Zhongji New Materials) a few days agoCompleted more than 100 million yuan in Series A financing, this round of financing was led by Oriza Puhua and Yida Capital, followed by CICC Capital, Oriza Holdings, Shenzhen Small and Medium-sized Dan, Liwan Venture Capital and other investorsNorth Beta Capital acted as exclusive financial advisor.
Focusing on the technology research and development of localized high-performance grinding and polishing materials, we provide customers with customized grinding and polishing industry solutions to jointly solve the long-standing "stuck neck" problem in the semiconductor industry. The funds from this round of financing will be used for production line upgrades, talent introduction and marketing.
In 2018, Chen Bin, chairman of Zhongji New Materials, led the team to set up a laboratory in the United States to carry out product development of precious and brittle hard silicon carbide agglomerated diamond, and officially established Zhongji New Materials in 2021. In the same year, the agglomeration diamond abrasive material independently developed by China Machinery New Materials was put into mass production, becoming the first new grinding solution in China, which can replace imported products.
Chen Bin said"Zhongji New Materials has been deeply involved in the grinding and polishing materials industry for more than 20 years, and compared with companies that only provide single grinding or polishing services, it focuses more on the whole process of cutting and polishing, covering the core technology of the whole chain, key raw materials, core auxiliary materials and strict quality control, and can provide complete process processing solutions. In addition, the core value of Zhongji is to help customers reduce costs and increase efficiency through technological innovation, taking polymerized diamond technology as an example, which effectively avoids environmental pollution problems in the manufacturing process of polycrystalline diamond, and improves the yield of customers' products in the process of use. ”
In terms of products and services, Zhongji New Materials provides two types of models: solutions and grinding and polishing materials. In the solution, customers in different development stages are affected by the uncertainty of the process, and need to continuously introduce and try a variety of processes and products, and adjust the parameters, and a single product cannot meet customer needs. According to customer needs, we can match a complete set of mature process solutions for them to help customers optimize the process in real time and improve efficiency in each section. In terms of grinding and polishing materials, Zhongji New Materials has consumables products in the whole process of cutting, thinning, rough grinding, fine grinding, rough polishing and fine polishing.
Chen Bin said"Our goal is to reduce the process from 4 to 3 and 2 through controllable processes, and customers may have to pay 1,000 yuan in the past, but only 500 yuan in the future." Achieve 50% or more cost reduction and efficiency increase in processing technology. ”
At present, China Machinery New Materials has successfully entered BYD, Tianyue Advanced, Tongguang Semiconductor, Tianyu Semiconductor, Hesheng Silicon Industry, Jingsheng Electromechanical, Roshow Technology and other leading enterprises, and is expected to enter more than half of the domestic silicon carbide substrate head manufacturers this year.
Yin Botao, managing director of Oriza PuhuaSaid: Zhongji New Materials has been working in the cutting and polishing materials industry for many years, has a deep understanding of the market and adheres to independent innovation, from 3C to semiconductors, it is rare to provide cutting, grinding and polishing related products at the same time. With the rapid development of the SiC market, the company has become a leading enterprise in the field of SiC, and we look forward to the company going further and becoming a leading enterprise in the field of silicon.
Rongming Xu, partner of Yida CapitalIt is said that the market scale of the domestic cutting and polishing industry is considerable, and the trend of import substitution is clear. As the leading enterprise in the industry, the team has been engaged in cutting and polishing consumables for more than 20 years, with rich experience, the company's comprehensive product line, strong technical capabilities, and the fist product agglomeration diamond grinding and polishing slurry has reached the leading level at home and abroad, and has entered the domestic mainstream customers in the field of silicon carbide to achieve batch supply, which has greatly promoted the import substitution process in the field of cutting and polishing consumables, and looks forward to the company continuing to deepen product research and development and customer expansion, and continue to maintain its leading position in the industry.
Li Xuan, head of CICC Greater Bay Area**Said: With the increase in the penetration rate of new energy vehicles, the demand for silicon carbide chips has shown explosive growth. Due to the expensive, brittle and hard characteristics of silicon carbide substrates, the demand for grinding and polishing consumables increases. With profound technical accumulation and forward-looking product layout, the team has taken the lead in developing agglomerated diamond liquid in China, and its products are benchmarked against overseas leading enterprises. We expect the company to become a leader in high-performance grinding and polishing materials as soon as possible, and make greater achievements in the field of domestic substitution of semiconductor materials.
Tang Bin, Investment Director of Oriza HoldingsSaid: The silicon carbide market is growing rapidly, and cutting and polishing consumables manufacturers have the opportunity to quickly introduce customers in the fast-growing market and occupy a certain market share. The founding team of Zhongji New Materials has many years of experience in the cutting and polishing consumables industry, and the company not only has the basic disk of consumer electronics and sapphire grinding and polishing products, but also gradually formed a whole industry chain product covering silicon carbide substrate cutting, grinding and polishing, and has strong competitiveness in agglomerated diamond slurry products. The company's products have been supplied in batches to some leading customers in the silicon carbide industry, and tested or supplied in small quantities to other customers. With the gradual expansion of product categories, the company has the opportunity to become a platform enterprise for cutting and polishing consumables in the future.
Feng Xianli, senior investment manager of small and medium-sized venture capitalSaid: silicon carbide substrate processing technology does not have a public mainstream technical route, we are still in the stage of exploration, will buy a variety of equipment, try a variety of process routes and consumables, hoping to find out in line with their own maximum benefit of the process route and consumables. Zhongji has a layout of processing consumables in the grinding and polishing process section of silicon carbide substrates, providing one-stop service for grinding and polishing silicon carbide substrates. In particular, Zhongji's unique agglomerated diamond slurry products have won the favor of head substrate manufacturers with their excellent performance. We believe that in the future, the market share of China Machine in the field of silicon carbide is expected to rise rapidly and become a leading enterprise in this field.
Zhan Guangjiu, general manager of Liwan Venture CapitalSaid: With the accelerated expansion of silicon carbide applications in the field of new energy vehicles and photovoltaics, the demand for silicon carbide substrates and epitaxial wafers will show explosive growth in the future, and new requirements such as low cost, high reliability, and domestic substitution have been put forward for consumables in the silicon carbide cutting and polishing process. The founding team of Zhongji New Materials has been deeply involved in the industry for many years, with a technologically leading and young and energetic R&D team and an experienced industrialization team, and has independent intellectual property rights and mature solutions in the field of reunion diamond grinding and polishing consumables, and has reached cooperation with many leading customers. Liwan Venture Capital is optimistic about the potential of Zhongji New Materials in product research and development, market development, etc., and it is expected to become a leading enterprise in the field of silicon carbide cutting, grinding and polishing.