Core Insights - Su Yan Electronics, a provider of thermal management solutions for electric vehicles, has completed a multi-million yuan Pre-A round financing led by Nantong Hezhong and followed by Xuan Yuan Capital [2][3] Company Overview - Su Yan Electronics was established in late 2022 in Shanghai, with core members coming from leading Tier 1 supply chain companies globally. The company focuses on thermal management for new energy vehicles, with its core product being a rare earth thick film high-pressure liquid heater, which improves thermal efficiency by approximately 8% compared to traditional PTC solutions. The company has secured partnerships with major manufacturers such as FAW, Changan, and GAC [3] Financing Purpose - The CEO of Su Yan Electronics, Tong Bailing, stated that the funds from this round will primarily be used for the platform development of the next-generation thick film heater, European export certification, and digital upgrades of production lines. The goal is to ensure that products cover more vehicle platforms and achieve mass delivery by 2026 [4] Investment Rationale - Wang Rongjin, founder of Xuan Yuan Capital, mentioned that the thermal management sector is experiencing a significant market opportunity, with a market size in the hundreds of billions. Su Yan's team possesses 20 years of automotive industry experience and an international perspective, achieving breakthroughs in energy efficiency and patent barriers with their thick film solution, positioning them to quickly penetrate the global supply chain and potentially become a leader in this niche market [4] Investment Perspective - Wang Shuai, founder of Shengdai Venture Capital Network, emphasized that the recent reiteration by the State Council on the importance of self-controllable core components in new energy vehicles highlights Su Yan Electronics' commitment to breaking foreign patent monopolies with their thick film technology. The involvement of both industrial and financial investors like Nantong Hezhong and Xuan Yuan Capital validates the value of the sector and underscores the responsibility of fund managers. The platform will continue to monitor Su Yan's performance in European certification and capacity ramp-up, facilitating connections to more policies and market resources [4]