Sales tripled in three years: A high-end optoelectronic semiconductor equipment enterprise completed hundreds of millions of yuan in Series C financing | Exclusive Report by Hardcore Kr

Author: Ou Xue

Editor: Yuan Silai

Yingke has learned that Leishen Technology (Shenzhen) Co., Ltd. (hereinafter referred to as "Leishen Technology") recently completed hundreds of millions of yuan in Series C financing. This round of financing was launched in the second half of 2024. In a relatively cautious financing environment, it was favored by multiple investors and over - subscribed. The investors include Guofeng Investment as the lead investor, Electric Control Industry Investment, Yangtze River Innovation Investment, and Shenzhen Capital Group. The funds from this round will be mainly used to increase R & D investment, expand factories for production, and explore overseas markets.

Leishen Technology was established in 2017. It is a rare high - precision automation equipment company in the domestic and international optical communication semiconductor field that has the capabilities of chip - level, device - level, and module - level coupling, test aging, and semiconductor packaging at the same time.

The company initially entered the market with high - precision optical communication packaging and testing equipment and then gradually expanded to semiconductor industry equipment. It mainly provides precision automated test aging, optical path assembly, semiconductor packaging equipment, and systematic solutions for optoelectronic chip manufacturing and packaging enterprises in fields such as optical communication, laser processing, and lidar. Currently, its products cover downstream fields of optical communication and semiconductors, such as optical modules, lasers, automotive radars, power semiconductors, and IGBT modules.

Overall, Leishen Technology is a "team - based startup". Its core members come from world - class optoelectronic semiconductor enterprises and have more than 20 years of R & D, production, and management experience in the optoelectronic semiconductor automation equipment industry. Currently, the company has manufacturing bases and technology R & D centers in Shenzhen and Xi'an. R & D personnel account for nearly 40% of the total, and it has nearly a hundred independent intellectual property rights and innovation achievements.

"With the rapid development of industries such as AI, data centers, and telecommunications, the market demand for optical modules continues to rise," Quan Junming, the chairman and general manager of Leishen Technology, told Yingke. He said that the optical module market will still be an incremental market in the next two to three years, and the demand for equipment will continue to increase.

Yingke has learned that benefiting from the global AI boom, the localization substitution of the optical module supply chain is accelerating. The increase in the channel density of optical modules has raised the requirements for packaging accuracy and coupling accuracy of optical modules, driving the demand for equipment upgrades. Domestic optical module manufacturers also require domestic equipment to have higher precision, higher efficiency, better cost - performance, and a controllable supply chain.

Yingke has learned that Leishen Technology has basically covered leading optical module customers in the optical communication field. Its equipment has core technologies such as self - developed nanometer - level linear slides, angular slides, and specific coupling algorithms with freely editable control software. It can be compatible with product solutions of multiple types and different technical levels, meeting customized design requirements, and its selling price has extremely high cost - performance compared with similar foreign products.

Leishen Technology's coupling equipment is currently mainly single - mode, which can meet the coupling requirements of 400G, 800G, and even 1.6T optical modules. The current coupling scheme has strong compatibility. Whether it is the traditional EML scheme or new technical schemes such as silicon photonics and thin - film lithium niobate, Leishen Technology's equipment can support them, and it is suitable for the coupling, packaging, and testing of silicon optical modules and CPO.

Since the second half of 2024, the core product structure of Leishen Technology has also changed significantly due to market demand: the sales volume of multi - mode/single - mode optical device coupling machines has increased rapidly and has caught up with the previous main products, testing and aging machines, bringing new growth points to the company. According to Yingke, the company expects its sales to maintain high - speed growth in the next few years.

Leishen Technology's single - mode optical device coupling machine (Source/Enterprise)

Quan Junming believes that overall, the development trend in the optical communication field is to "go global", while semiconductor packaging and testing is about "local substitution".

"China has an irreplaceable industrial advantage in the field of optical communication semiconductor packaging and testing. Although some enterprises are considering relocating their production lines overseas due to policy requirements, it must be achieved through highly automated transformation," Quan Junming revealed. Leishen Technology is also considering cooperating with customers to develop automated unmanned production lines, which will be first verified successfully in China and then replicated overseas.

In terms of business, in addition to continuing to focus on mature businesses such as optoelectronic semiconductor equipment, Leishen Technology also plans to boost the development of new businesses. Quan Junming told Yingke that, first, die bonders, wire bonders, and semiconductor packaging equipment with higher precision have gradually entered the harvest stage this year. They have achieved small - batch domestic substitution sales and the company plans to continue expanding the market; second, the high - precision nanometer - level linear slides and angular slides that have been verified for many years are gradually being commercialized and will be accelerated to the market for customer verification.

Views of investors:

The person in charge of the relevant investment department of Guoxin Fund said: "Leishen Technology is committed to providing professional complete solutions for production, processing, coupling packaging, test aging technology, and customized precision equipment to industries such as optical communication, industrial lasers, and chip manufacturing. It has continuously served many global optical module giants. The core team has excellent resumes and outstanding R & D capabilities, and has achieved the leading market share in multiple sub - fields. It has broad development space in the future."

The Optoelectronic Integration Fund led by Electric Control Industry Investment said that this investment is one of the important industrial layouts of the Optoelectronic Integration Fund in the field of silicon photonics and is of great significance. This investment will have a major impact on building the brand of the Optoelectronic Integration Fund as a professional investment fund for silicon photonics and integrated circuits.