Accelerating the domestic replacement of functional composite films, this Tsinghua-affiliated new material company has completed tens of millions of yuan in angel round financing.
Author | Lin Qingqing
Editor | Yuan Silai
Yingke learned that Qingrong Technology, a developer of functional composite film materials, recently completed a multi - million - yuan angel round of financing. The lead investor is Zhongke Chuangxing, and the follow - on investors include Changjian Investment, Jiangyin Talent Science and Technology Innovation Angel Fund, and Tsinghua Alumni Seed Fund. The funds from this round of financing will be used for production line expansion, R & D of core equipment, and market expansion in the fields of high - frequency communication, new energy, and AI servers.
Founded in September 2024 by a materials science team from Tsinghua University, Qingrong Technology focuses on the R & D and production of functional composite film materials such as high - frequency and high - speed copper - clad laminates and high - temperature and high - energy - storage capacitor films. The company targets scenarios such as 5G communication, new energy vehicles, AI servers, and millimeter - wave radars, and is committed to breaking the monopoly of companies like Rogers in the United States in the high - end materials market. Currently, the dielectric loss of its high - frequency copper - clad laminates is as low as below 0.001, with performance comparable to the world's top products. It also has high batch stability and cost advantages. The energy - storage density of its capacitor films reaches 5J/cm³, the temperature resistance is increased to 150°C, and the device volume is 30% - 50% smaller than traditional products.
Products of Qingrong Technology (functional composite films, high - frequency copper - clad laminates, film capacitors, etc.) (Source: the company)
According to statistics from the Qianzhan Industry Research Institute, the global market size of functional films reached 387.85 billion yuan in 2024 and is expected to reach 411.78 billion yuan by 2030. The global market size of high - frequency copper - clad laminates is expected to exceed 44 billion yuan by 2028. However, domestic manufacturers have long relied on imports due to backward processes and unstable performance. Take the high - frequency communication field as an example. Rogers in the United States occupies more than 50% of the global market share. Although its PTFE - based materials have excellent performance, they are difficult to process, expensive, and the production of core membrane materials is strictly restricted outside China. The increasing requirements for material temperature resistance and dielectric loss in scenarios such as new energy vehicles and millimeter - wave radars have further intensified the demand for domestic substitution.
The technological breakthrough of Qingrong Technology stems from more than 20 years of R & D accumulation by the team led by Academician Nan Cewen and Professor Shen Yang from Tsinghua University. Through multi - scale structure control and continuous preparation processes, the company has solved problems such as filler dispersion and interface optimization in composite materials, enabling the stable mass production of large - size functional films (such as kilometer - long film rolls). Its high - frequency copper - clad laminates use PTFE - based composite modification technology, with a tunable dielectric constant range of 1.8 - 10.7 and a thermal expansion coefficient of dielectric loss as low as below 30 ppm/°C, which can meet the requirements of the 77 - 79 GHz frequency band of millimeter - wave radars. The capacitor films enhance the energy - storage mechanism through composite dielectrics, with an energy density 2.5 times that of commercial BOPP materials and are suitable for high - temperature environments of 150°C.
In terms of market progress, Qingrong Technology has sent samples of its high - frequency copper - clad laminates to millimeter - wave radar manufacturers and leading PCB companies for verification and has reached a cooperation intention with new energy vehicle powertrain manufacturers. It plans to complete the commissioning of the production line and deliver the first batch of orders in 2026. The capacitor film products are undergoing reliability tests by customers in the photovoltaic inverter and smart grid industries and are expected to enter the mass - production stage in 2026. Founder Jiang Jianyong revealed: "The verification cycle of high - frequency copper - clad laminates is about 3 - 5 months. Currently, customers have feedback that the stability of key parameters exceeds that of domestic similar products, and the target revenue for next year is to exceed 10 million yuan."
Development and application of functional composite films (Source: the company)
The challenges in the industry mainly lie in process complexity and customers' willingness to substitute. Jiang Jianyong admitted: "Some customers are still hesitant about domestic materials, but the boom in high - frequency communication and autonomous driving is forcing the supply chain to reduce costs. Our customized services and fast technology response speed are our differential advantages." Next, the company plans to develop low - dielectric films for high - speed flexible boards, expand into new scenarios such as high - speed materials for AI servers, and promote the layout of overseas markets.
In terms of the team, the core members of Qingrong Technology all come from the functional composite materials research team at Tsinghua University. They have published more than 100 papers in Science, Nature sub - journals and have led multiple national - level material research projects. The founding team has both academic R & D and industrialization experience and has completed the technological transformation of projects such as solid - state batteries and piezoelectric sensors.
Views of the investors:
The lead investor, Zhongke Chuangxing, said: Qingrong Technology has excellent comprehensive independent capabilities in all aspects from materials to processes in the field of functional composite dielectric film materials. Its core products, high - frequency copper - clad laminates and high - performance film capacitors, are globally competitive. With the booming development of the artificial intelligence and future mobility industries, the market for functional composite film materials will continue to grow at a high speed in the long term. The company has broad business prospects in the future, and we look forward to Qingrong Technology contributing excellent solutions to the industry.