Core Insights - Hefei Tianyao New Materials Technology Co., Ltd. has completed several million yuan in Series A financing, led by Houxue Capital, with participation from SMIC Capital and Guoyuan Fund [1] - The funds will primarily be used for expanding production lines, product research and development, and exploring overseas markets and downstream detector integration business [1] - Established in April 2020, the company focuses on the research, production, and sales of third-generation strategic semiconductor crystal materials, with core products being Cadmium Zinc Telluride (CdZnTe) substrates and devices [1] - The company is also expanding into high-end Indium Phosphide (InP) and Aluminum Nitride (AlN) compound semiconductor products, aiming to break the technological monopoly held by Europe, the United States, and Japan [1] - Revenue for Hefei Tianyao is projected to reach several million yuan in 2024, with expectations of doubling this year [1] Company Ownership - Pang Hao is the actual controller of the company, holding 58.92% of the shares [3] - Pang Hao currently serves as the chairman and general manager of the company [3]

Core Viewpoint - Hefei Tianyao New Materials Technology Co., Ltd. has completed several million yuan in Series A financing, which will be used for production line expansion, product research and development, and market expansion [1] Company Overview - Hefei Tianyao was established in April 2020 and is located in Hefei Economic Development Zone, focusing on the research, production, and sales of third-generation strategic semiconductor crystal materials [1][2] - The company's core products include Cadmium Zinc Telluride (CdZnTe) substrates and devices, with plans to expand into high-end Indium Phosphide (InP) and Aluminum Nitride (AlN) semiconductor products [1][2] Technology and Production Challenges - The production of CdZnTe is highly challenging due to strict conditions, requiring high temperature and pressure, complex chemical reactions, and precise parameter control [2][4] - The average yield in the industry is around 10%, while Japanese companies achieve yields of 50%-60%. Hefei Tianyao has surpassed 50% yield [4][6] Market Potential - The radiation detection market is estimated to be in the hundreds of billions, with potential for significant cost reduction and performance improvement in detectors [4][6] - The company aims to reduce the cost of CdZnTe detectors to one-tenth of current prices while enhancing detection precision [4] Product Applications - CdZnTe crystals are ideal for room-temperature X-ray and gamma-ray detectors, capable of processing two million photons per second [6][7] - The company has begun small-scale supply of CdZnTe products to leading medical manufacturers and expects to enter a larger production phase next year [7] Future Plans - Hefei Tianyao plans to continue optimizing the stable mass production of CdZnTe substrates, advance the research of InP and AlN semiconductor products, and expand into overseas markets and downstream detector integration businesses [7]