道创投网·会员动态｜巽霖科技·完成近亿元A轮融资

Core Viewpoint - Tianjin Xunlin Technology Co., Ltd. has completed nearly 100 million yuan in Series A financing, led by Jinyumaowu, with participation from Haitong Kaiyuan, Binhai Industrial Fund, and existing shareholder Xiamen Haihong [2] Company Overview - Xunlin Technology specializes in the research and manufacturing of new electronic substrate materials, headquartered in Tianjin [2] - The company focuses on PVD copper plating technology for glass and ceramic substrates, establishing a full-process production capability from substrate cutting to copper plating and etching [2] - Its self-developed "black light factory" automation production line achieves high-efficiency mass production of glass substrates with ultra-thick copper and high copper adhesion strength, with industry-leading metrics of 20 times copper thickness increase and 5 times adhesion strength improvement [2] - Products are widely used in high-end display fields such as RGB Mini LED backlighting, Micro LED direct display, AR/VR devices, and laser projection, with large-scale production of Micro LED-level line precision and high TGV density substrates already achieved [2] Financing Purpose - The financing will focus on three strategic directions: expanding large-size glass substrate processing capacity to meet growing market demand, accelerating the R&D and construction of downstream packaging module lines, and increasing investment in the development of new glass substrates for chip carriers and optical modules [3] - The company aims to consolidate its leading position in the new display substrate field through technological iteration and capacity expansion, promoting the penetration of glass substrates in the high-end display market [3] Investment Rationale - The investment in Xunlin Technology is based on a deep recognition of its technological barriers and market prospects, as glass substrates are core materials for next-generation display technologies [4] - The company has achieved a full industry chain layout from substrate to packaging, ensuring high consistency and yield of products through its "black light factory" model [4] - The team has demonstrated strong execution in technological breakthroughs and industrialization, successfully securing bulk orders from leading customers [4] Industry Insights - Recent policies from multiple departments, including the National Development and Reform Commission and the Ministry of Science and Technology, have intensified support for hard technology entrepreneurship, with new display materials gaining significant attention from the capital market [6] - The successful financing of Xunlin Technology reflects venture capital institutions' preference for hard technology projects with core technological barriers and industrialization capabilities, as well as the industry's quick response to policy guidance [6] - The company is expected to continue driving innovation and upgrading of domestic display substrate materials, contributing to the self-controllability of the industry chain with the new round of funding support [6]