Core Insights - Chengdu Zhongke Zhuoer Intelligent Technology Group Co., Ltd. has completed a multi-billion B round financing led by Bank of China Technology Innovation Fund, with several institutions participating [2] - The company specializes in quartz mask substrates for semiconductor lithography and has developed a closed-loop R&D process covering precision polishing, coating, and core equipment [2] Financing Purpose - The funds will focus on three main areas: enhancing the yield of the 130-250 nm quartz mask substrate production line, initiating small-batch verification of 28-90 nm advanced process products, and expanding cleanroom facilities and reliability testing centers to ensure supply chain security for downstream wafer fabs [3] Investment Rationale - The investment is driven by Zhongke Zhuoer's unique positioning in materials, over a decade of industry experience, and self-research capabilities in equipment, aligning with the national strategy for high-end manufacturing autonomy [3] Investment Ecosystem Perspective - The establishment of the National Big Fund Phase III and various local semiconductor material policies indicate strong government support; Zhongke Zhuoer's rapid transition from laboratory to production line in four years demonstrates the execution capability of the entrepreneurial team [3] - The integration of industry and financial resources by Bank of China Technology Innovation Fund highlights the commitment to support the company in becoming a leader in mask substrates [3]

Core Viewpoint - The article discusses the recent B-round financing of semiconductor materials company "Zhongke Zhuoer," highlighting its advancements in the production of quartz mask substrates and the urgent need for domestic production capabilities in China due to heavy reliance on imports [5][6]. Group 1: Company Overview - "Zhongke Zhuoer" was established in 2018 and is led by Yang Weibao from the Chinese Academy of Sciences. The company has made significant breakthroughs in precision polishing and coating technologies for semiconductor mask substrates [5][7]. - The company is involved in a national project aimed at developing the semiconductor blank mask industry chain and has a product range that includes blank masks for 130-250nm processes, with ongoing R&D for 28-90nm products [5][6]. Group 2: Market Context - The global market for blank masks is projected to reach approximately $3.6 billion in 2024, with China's demand estimated at around 10 billion RMB. Currently, the domestic supply of high-end blank masks is heavily reliant on imports, with a domestic production rate of less than 1% [6]. - The production of blank masks is constrained by export controls on essential equipment from the US and Japan, limiting domestic expansion [6]. Group 3: Technological Advancements - "Zhongke Zhuoer" has achieved three key technological breakthroughs: ultra-precision polishing with a surface roughness better than 0.2 nanometers, uniformity in magnetron sputtering coating of ±2%, and a defect detection system capable of identifying defects at 0.3 micrometers [7]. - The company has validated its blank masks with several downstream enterprises, and its pilot production line in Chengdu has completed process and product verification [7]. Group 4: Investment Insights - The lead investor, Zhongyin International Investment, recognizes "Zhongke Zhuoer" as having a unique technological edge and strategic positioning within the semiconductor materials sector, aligning with national goals for high-end manufacturing autonomy [8]. - Investors have observed the company's growth from angel investment to becoming a leading domestic player in the blank mask sector, emphasizing its potential in the domestic market for high-end blank masks [8].