Recently, Beijing Jichuang Northern Technology Co., Ltd. (hereinafter referred to as “Jichuang Northern”) announced on its official website that it has completed the completion of the E round of financing. According to Chipone North, the total scale of this round of financing exceeds 6.5 billion yuan, and the company’s valuation exceeds 30 billion yuan.
Regarding this round of financing, Chipone Northern Chairman and CEO Zhang Jinfang said: This round of financing reflects the support and recognition of the company from new and existing shareholders. The rapid growth of the company in recent years has verified the company’s continuous and deep cultivation of the strategic determination of the Display industry. In this process, it has forged a brave and capable technical and management team for the company to expand into new Display technologies and new product categories. At the same time, it has also built the systematic service capabilities of the company and global well-known brand customers in terms of technology, quality, and capacity assurance.
According to Chairman Zhang Jinfang, this round of financing funds will be used to increase Chipone Northern’s continuous investment in R&D expenditures, team expansion, and new technology deployment, and to help the company establish long-term and continuous production capacity partnerships with core suppliers to show the world The industry provides a stable, safe and sustainable chip supply chain. As a responsible company, Chipone North announced in August this year that it had signed a long-term wafer supply agreement with Malaysian company SilTerra.
According to the agreement, SilTerra needs to provide Chipone North with a total value of approximately US$400 million in wafers during the period of the agreement. In the context of previous IC price increases and shortages, Chipone North’s international strategic layout can not only guarantee the wafer production capacity of its power management ICs, display driver ICs, and other chips, but also its continuous and stable performance. The provision of the best products and services by downstream customers has laid a solid foundation, giving the display industry a reassurance. Nowadays, although the IC price increase has receded and the price has fallen back to before the price increase, the LED display industry has produced new variables due to technological upgrades and changes in demand.
On December 2, Geng Juncheng, general manager of the LED division of Chipone North, attended the “Expert Talk Annual Meeting·Mini/Micro LED Display Advanced Application Conference and Expert Aurora Award Presentation Ceremony”, and focused on low power consumption and low power consumption. Various requirements such as high gray refresh, low gray correction, high integration, high frame rate, PWM+AM, etc. have been developed to further explore the driver IC products required by the development trend of LED displays, and wait and see for the development of technology and products in the micro-pitch display era. The era of micro-pitch display is coming. The optimization of technology and the rise in market demand are undoubtedly a huge opportunity for the display industry. As an important part of the display industry, display chips have potential. The current round of financing of Chipone North also confirms this point.
Looking back at Jichuang North’s current round of financing, it can be found that this round of financing was led by Haisong Capital. Other investors include industrial investment institutions such as vivo and Zhongqingxinxin, as well as CCB Equity, CDB Equipment Fund, Yuanhe High Hope, and Rockchip. , Jiyuan Capital, Shengshi Investment and other well-known investment institutions; and existing shareholders of Chipone North also actively participated. Old shareholders such as CPE Yuanfeng, Singkin Energy Fund, Silk Road Huachuang, Zhuhai Huajin, and Jingxiang Capital continued to pursue investment. In addition to the previous rounds of industrial investors such as SMIC, TCL Capital, Xiaomi Investment, Beijing Manufacturing and Equipment Fund, and well-known investments such as Yizhuang State Investment, SDIC Venture, Zhuhai Science and Technology Venture Capital, and Da Hengqin Investment Institutions, company shareholders include many well-known industry, state-owned and financial investors.
It is worth mentioning that this round of leading investors Fang Haisong Capital, the old shareholders of Chipone Northern and the current round of investor CPE Yuanfeng and other institutions and enterprises are also optimistic about the future growth potential of the display chip industry, and believe that the industry is expected to reach 1,000 in 2030. 100 million yuan scale. At the same time, the display industry chain is accelerating its shift to China, which has also brought huge opportunities for domestically-made display chip manufacturers to substitute. Based on this, Haisong Capital CEO Chen Liguang said that Chipone North, as one of the leading display chip companies in China with the most advanced technology research and development, the most comprehensive product range, and the largest market share, has advantages in management team, technology, and supply chain, and has huge Development potential. They believe that in the context of future industrial transfer and global core shortage, Chipone North is expected to achieve leapfrog development and long-term sustainable growth based on technology, customers and industrial layout.
Haisong Capital continues to be optimistic about the company’s leading position and development prospects in the industry, and will continue to inject resources to vigorously support the future development of Jichuang North. More importantly, as an old shareholder of Chipone North, CPE Yuanfeng has been highly optimistic about Chipone North and its management team for two consecutive rounds of investment. In the future, it will continue to coordinate resources from all parties to help the company grow rapidly. It is reported that this round of financing reflects investors’ recognition of Chipone North in terms of technology, team, management, and performance. It is not only a summary of Chipone North’s achievements in the past 13 years in the field of display chips, but also for the next step. Enhance the company’s competitiveness in the display field and provide a booster to become a global leader in display technology.