Photoresist Firm Fuyang Sineva Bags 500M Yuan in Round-C Financing
Fuyang Sineva, a leading photoresist enterprise based in China, secured 500 million yuan ($74.2 million) in round-C financing on August 10. The leading investors were China Capital Investment Group, a well-known strategic investment institution and CDB Manufacturing Transformation and Upgrade Fund, followed by CNBM New Material Fund, Optics Valley Industrial Investment, Huoyan Fund and other institutions. Lighthouse Capital acted as the exclusive financial consultant.
Fuyang Sineva was established in May 2013 and belongs to Sineva Technology Group. Its main business includes photoresists, OLED materials, semiconductor wet electronic materials and cutting-edge materials. After this financing, Fuyang Sineva will invest more in the R&D of photoresists and OLED materials and expand reproduction.
Dr. Huang Changgang, the CEO of Fuyang Sineva, said: “Based on our core products such as photoresists and OLED materials, we will continue to deepen our efforts in the display field while pushing into photoresists and other microelectronic materials for the semiconductor IC industry.”
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Photoresists are one of the most important basic raw materials in the manufacturing of display panels and semiconductor ICs. In this regard, China started late in conducting domestic R&D, and the market has been monopolized by companies in Japan, South Korea, Europe and the US for a long time. The localization rate of display photoresists is only about 10%. Products such as ArF/KrF in semiconductor photoresists are still in the stage of technological accumulation and verification, and have not yet entered mass production.
Fuyang Sineva is the only display negative photoresist manufacturer in China with an annual shipment of 2,000 tons. While filling the gaps in China, its products also meet or exceed the technical level of similar products.