Semiconductor Company Lihao Raises CNY 2 Billion from Series B Funding Round

Technology Author: Qinqie He Editor: Boying ji Sep 28, 2022 02:14 PM (GMT+8)

Qinghai Lihao semiconductor material Co., Ltd is a technology-based enterprise focusing on developing semiconductor materials. It officially announced the completion of a CNY 2.2 billion (USD 304.7 million) Series B financing round, led by Changjiang Securities Innovation Investment.

Qinghai Lihao Semiconductor Materials Company (Chinese: 青海丽豪半导体材料有限公司), a high-tech company focusing on the development of semiconductor material, completed a Series B funding round worth  CNY 2.2 billion(USD 304.7 million)  on September 27th, led by Changjiang Securities Innovation Investment (Hubei) Co Ltd, with participation by Oceanpine Capital, V Fund, Harvest Capital, Zhejiang United Investment Group, China-U.S. Green Fund Management Co., Ltd, China-Belgium Direct Equity Investment Fund and existing shareholders. Lihao Semiconductor will use the capital to construct a manufacturing project to deliver about 200,000 tones of high-purity single crystalline silicon and polycrystalline silicon every year and improve manufacturing capabilities.

Lihao Semiconductor, based in Qinghai province, claimed to reach the unicorn valuation of USD 1 billion within 18 months of its establishment and became one of the benchmarking enterprises of the industry. Lihao Semiconductor is currently working on a three-phase manufacturing project expected to generate an annual output value of approximately CNY 20 billion (USD 2.77 billion )when completed in December 2022.

Chen Liguang, CEO of Oceanpine Capital, said the investment aligned with Oceanpine 's long-term strategy in the photovoltaic industry and was optimistic about Lihao Semiconductor becoming globally competitive. China currently maintains a stable chip manufacturing footprint, but the trend lines are concerning due to the short supply of semiconductor material. Aiming to make China self-sufficient in this strategically important technology,  Lihao Semiconductor will be a game changer.  

 Lihao Semiconductor's competitors include Tongwei Co., Ltd, Wacker Chemie AG, Daqo New Energy Corp, GCL-Poly Energy Holdings Ltd, Xinte Energy Co., Ltd, OCI Company Ltd and Hemlock Semiconductor Operations LLC.