The nearly 500 million yuan Series B+ financing has been finalized, and domestic ultra-high-purity polymers have entered the fast lane.
Recently, Puxijing New Energy Materials (Shanghai) Co., Ltd. (hereinafter referred to as "Puxijing") completed a nearly 500 million yuan Series B+ financing round. This round of investment was completed by Zhejiang Energy Group, Zhoushan Science and Technology Innovation Fund, Chongqing Science and Technology Innovation Investment, Yangtze River Chebai Venture Capital, Ruili Culture Fund, and Beijia Investment.
The funds from this round of financing will be mainly used for the completion of the construction of the first-phase production line of ultra-high-purity polymer materials at the Shanghai Jinshan factory, preparations for production, team expansion, and market development.
The company had previously received investments from well-known institutions such as Sequoia China, Shanghai United Investment, Guoke Orient, Vertex Ventures, Tsingshan Group, Shengxin Fund, Lianxin Capital, Huafeng Group, and Quzhou Industrial Investment Group. Against the backdrop of the current macroeconomic environment challenges, Puxijing has continued to receive large additional investments from multiple investment institutions, which reflects the high recognition of its technical strength, implementation ability, and future potential by the capital market.
The company has been deeply involved in the independent research and development of ultra-high-purity polymer specialty materials. At present, it has broken through key technical barriers in catalysts, polymerization processes, and application scenario development, and has taken the lead in entering the highly scarce field. It has now developed a series of ultra-high-purity polymer products, which are applied in the fields of lithium battery separators, specialty fiber materials, medical materials, high-end filter materials for the semiconductor chip industry, and high-end polymer materials for humanoid robots, making up for the short - board of the industrial chain and achieving domestic self - control of key materials. Taking high - performance lithium battery separator materials as an example, the 9μm, 7μm, and 5μm ultra - high - purity special materials developed by Puxijing are in the leading position in the industry. The company's factory in the Shanghai Chemical Industry Park, as one of the world's largest ultra - high - purity high - molecular - weight polyethylene projects, is about to be put into production. After full production, it will achieve an annual production scale of 280,000 tons.
Shanghai Chemical Industry Park Factory
Meanwhile, Puxijing is accelerating the expansion of its product pipeline and continuously deploying in application scenarios such as high - end polyethylene wax and specialty packaging materials. Currently, the domestic market demand for polyethylene wax and specialty packaging materials is strong, but the high - end categories still rely heavily on imports. Puxijing is entering these high - value - added niche tracks with a platform - based approach to gradually fill the domestic gap. The "Puxijing High - Purity Polyolefin Specialty Materials Project" was selected as a major project in Shanghai in 2024 and 2025.
Puxijing Products
Zhang Wenlong, the founder and CEO of Puxijing, said, "The company is steadily entering the 3.0 development stage characterized by technology - intensive, talent - intensive, and capital - intensive operations, always focusing on the core main track of ultra - high - purity polymers and continuing to innovate. At the same time, the company will focus on the key materials for China's energy revolution to ensure the stable supply of key materials in special fields such as chip filter materials, medical, and food - grade materials. In the future, with the goal of becoming a global leading enterprise in specialty polymers, the company will achieve a leap from 'product leadership' to 'technology leadership' and, with continuous technological innovation and accumulation, help China's high - end polymer materials go global."
The person in charge of the investment business of Zhejiang Energy Group said that currently, the high - purity polyolefin materials used for lithium battery separators are highly dependent on imports, and there is a large space for domestic substitution. Puxijing is committed to the localization of specialty polyolefin materials. The company's ultra - high - purity high - molecular - weight polyethylene products are comparable to imported products in terms of purity, consistency, processing, and mechanical properties and have been recognized by mainstream domestic lithium battery separator enterprises. In the future, the company will further expand into future industrial fields such as high - end semiconductor filter materials, medical implants, and humanoid robots, with strong market competitiveness and growth potential. Zhejiang Energy Group has been deeply involved in the energy track, playing an industrial guiding role. It will cooperate with the company to strategically layout in the advantageous areas of the Yangtze River Delta and further empower the company's development with the resource and application scenario advantages of Zhejiang Energy Group.
Chen Baohua, the executive director of Zhoushan Financial Management Company, said that since its establishment, Puxijing has shown a strong development momentum. Its products are widely used in multiple key fields such as lithium battery separators, specialty fiber materials, medical materials, and high - end semiconductor chip filter materials, effectively filling the domestic industrial chain gap. The company has made significant progress in customer expansion and mass production in just over three years since its establishment. Zhoushan Financial Management Company highly recognizes the company's team, products, and technology R & D capabilities and hopes to further deepen the cooperation relationship through this investment. In the future, with the completion of the specialty polyolefin materials project on Zhoushan Liuheng Island, Puxijing will become one of the largest ultra - high - purity polymer production enterprises at home and abroad, which will help the company further enhance its market competitiveness.
The relevant person in charge of Chongqing Science and Technology Innovation Investment said that the company focuses on the independent research and development of high - end polymer materials, which have a wide range of downstream application scenarios, including new energy, specialty fibers, humanoid robots, and medical fields, with high social and economic benefits. The company has broken through key technical barriers such as high - end polymer catalysts and polymerization processes and is expected to break the monopoly of foreign suppliers in high - end polymer application scenarios, complete domestic substitution, and achieve domestic self - control of key materials. Chongqing Science and Technology Innovation Investment will fully support the company's in - depth development in Chongqing, help the high - quality development of the intelligent connected vehicle industrial chain in Chongqing, and serve the construction of the "33618" modern manufacturing cluster system in Chongqing.
Wang Xin, the president of Shanghai Ruiyi Investment, said that the downstream application scenarios of domestic high - end polyolefins are extensive, and the market space is huge, but the domestic market still mainly relies on imports. The core team of Puxijing has been deeply involved in the industry for many years, with deep technical reserves and commercialization capabilities. The product performance can fully match that of international leading manufacturers. As the company's production capacity gradually increases, we are optimistic that Puxijing will become a global leading enterprise in high - end polyolefin materials.