Core Insights - Anhui Hechen New Materials Co., Ltd. has completed over 100 million RMB Series B financing, led by Guotai Junan Innovation Investment and CRRC Guochuang Fund, with participation from Jinyuan Capital and Paiwei Investment [1] - The funds will primarily be used for expanding production capacity of 8.6 generation blank mask substrates and advanced semiconductor polishing pads, as well as increasing R&D investments with strategic customers [1] Company Overview - Hechen New Materials was established in 2016 and specializes in quartz glass polishing technology and self-manufacturing of upstream polishing materials [1] - The company’s main products include blank mask materials for semiconductor displays, advanced process polishing pads, and optical polishing pads [1] - Hechen New Materials serves several leading domestic clients, including TCL Zhonghuan, Lens Technology, Changxin Technology, Wogang Optoelectronics, Qingyi Optoelectronics, and Luvi Optoelectronics [1] Leadership - The actual controller of Hechen New Materials is Li Jiahai, who holds a total shareholding ratio of 47.3% and a voting power of 50.62% [1] - Li Jiahai serves as the chairman and general manager of the company [1][2]

Core Insights - Anhui Hechen New Materials Co., Ltd. has completed over 100 million RMB in B-round financing, led by Guotai Junan Innovation Investment and CRRC Guochuang Fund, with participation from other institutions [1][2] - The raised funds will primarily be used for expanding production capacity of 8.6 generation blank mask plates and advanced semiconductor polishing pads, as well as increasing collaborative R&D efforts with strategic customers [1] Company Overview - Established in 2016, Hechen New Materials focuses on the R&D and production of new display and semiconductor precision polishing materials, including blank mask plates and polishing pads [1] - The company has completed the construction of a cleanroom production line with a ten-level cleanliness standard for G6 and G8.6 generation blank mask plates, with some products already in mass production [1][2] Market Position - Blank mask plates and CMP (Chemical Mechanical Polishing) pads are core materials in semiconductor manufacturing and display panel processes, traditionally dominated by Japanese and Korean companies, resulting in a low domestic production rate [1] - Since 2021, Hechen New Materials has been focusing on the localization of semiconductor display blank masks and advanced polishing pads, with some products already in mass production and key customers including QY Optoelectronics and Luy Optoelectronics [1] Project Development - The G8.6 generation blank mask plate project, which started in January this year, completed the installation of coating equipment in August and has begun debugging, expected to enhance the company's capacity and delivery capabilities in high-generation blank mask plates [2] Financing History - Hechen New Materials has completed multiple rounds of financing since its establishment, including 70 million RMB in A-round financing in December 2020, an undisclosed A+ round in July 2021, an undisclosed Pre-B round in April 2022, and the recent B-round financing of 100 million RMB in January 2023 [2]

Core Viewpoint - Anhui Hechen New Materials Co., Ltd. has successfully completed over 100 million yuan in Series B financing, indicating strong investor confidence and growth potential in the semiconductor materials sector [1] Group 1: Financing Details - The financing round was led by Guotai Junan Innovation Investment and CRRC Guochuang Fund, with participation from industry players such as Jinyuan Capital and Paiwei Investment [1] - The funds raised will primarily be used for expanding the production capacity of 8.6 generation blank mask plates and advanced polishing pads for semiconductors [1] Group 2: Strategic Focus - The company plans to increase investment in research and development to support strategic customers, aiming to meet growing market demand [1]