A doctoral graduate from Northwestern Polytechnical University starts a business and secures an order from BOE. This Shaanxi-based company challenges foreign giants in semiconductor packaging | Exclusive from 36Kr

Author | Lin Qingqing

Editor | Peng Xiaoqiu

36Kr learned that the semiconductor packaging materials company "Zhizhi Boyue" recently completed a Pre-A round of financing worth tens of millions of yuan, jointly invested by five institutions, namely Matrix Partners China, Dingxing Quantum, Guozhi Auto Investment, Chengdu Beit Investment, and Haihe Qingwei. The funds from this round will be used for the construction of production bases in South China, the Yangtze River Delta, and Sichuan, and at the same time, the R & D team will be expanded and semiconductor packaging testing equipment will be introduced.

"Zhizhi Boyue" was established in Shaanxi in 2022, focusing on the domestic substitution of high - end electronic materials in the fields of display panels, semiconductor packaging, and the military industry. Its technological accumulation began with the R & D of military special materials. The team once participated in the project of high - temperature - resistant materials for aircraft black boxes and later turned to the fields of display and semiconductor packaging.

According to the introduction of "Zhizhi Boyue", the company takes the independent modification of underlying resin as the core technological route and is one of the very few domestic enterprises that have achieved full - chain penetration of high - end packaging materials. Its team starts from the molecular structure design of epoxy resin and acrylic resin, breaking through three major technological barriers: the control of electronic - grade impurity ions (PPB level), the uniform dispersion of fillers, and long - term reliability. Its first product, LCD packaging adhesive, passed the 1000 - hour stability test in an environment with a high temperature of 60°C and a humidity of 90% during the verification on BOE's 8.5 - generation production line.

An operator of "Zhizhi Boyue" is preparing products (Source: the enterprise)

Packaging materials need to match the precise electrical characteristics of display and semiconductor devices. Traditional enterprises find it difficult to cross the threshold of interdisciplinary fields such as polymer chemistry, optics, and electronic engineering. What's more severe is the customer verification cost. Currently, the production capacity of LCD panels in the Chinese mainland accounts for 60% of the global total, but 85% of high - end packaging adhesives rely on imports from international giants, and the verification cycle is as long as two years.

"A single test needs to shut down the customer's production line worth tens of billions for 2 - 3 days, and the test cost is extremely high. Most enterprises simply cannot get the test opportunity." "Zhizhi Boyue" revealed the industry bottleneck to 36Kr. Therefore, the company first targets leading customers. Its first - batch products are bound to the development of new - model panels of BOE and CSOT. At the same time, it operates in a light - asset model. The first modular production line in Xi'an only has a clean workshop of several hundred square meters, and the materials are sold by the gram to reduce fixed - asset investment. This model promoted its mass production in early 2025. Different products are respectively used for LCD panel packaging, the protection of carbon - fiber components of helicopters, and semiconductor wafer thinning and cutting.

International giants block the core resin, formulas, and test standards and may launch higher - dimensional products at any time to suppress domestic substitution. In response, "Zhizhi Boyue" plans to use the interdisciplinary platform as a fulcrum. In 2025, it will establish a subsidiary in Beijing to enter the field of new - energy vehicle packaging materials and simultaneously develop an AI simulation system to optimize the device testing process. At the same time, it will promote other business lines. Its negative photoresist for display has passed the first - round verification of BOE, the semiconductor wafer UV debonding adhesive has entered the pilot - test stage, and the military drone materials have completed mass - production supply. "Zhizhi Boyue" told 36Kr, "The new - product development and verification cycle of panel manufacturers has been compressed to one year. Material suppliers must respond to customer needs 24 hours a day, which is also one of the advantages of our domestic manufacturers."

In terms of the team, Sun Jiuli, the general manager of "Zhizhi Boyue", is a doctor from Northwestern Polytechnical University. He has presided over national defense basic research projects and has more than ten years of experience in industrial transformation. Professor Miao, the chief scientist, is a doctoral supervisor at Northwestern Polytechnical University and the chief scientist of Shaanxi Qinchuangyuan, focusing on display materials research. The R & D of semiconductor packaging and testing is led by a professor from the School of Electronic Packaging of Xidian University, and the application team comes from large panel manufacturers such as BOE and CSOT. Among them, 70% of the members have a master's degree or above.