36Kr Exclusive | A company specializing in core components for high-energy particle applications has completed over 100 million yuan in financing to accelerate domestic substitution in the high-end instrument and semiconductor fields.
Author | Zhang Ziyi
Editor | Yuan Silai
Hard Kr has learned that Suzhou Best Electric Co., Ltd. (hereinafter referred to as "Best Electric"), which focuses on the core components of high-energy particle application systems, recently announced the completion of a Series C financing round exceeding 100 million yuan. This round of financing was led by Shanghai Ruili, with Jiaotong Capital and Yuanjing Capital participating as follow-on investors. The raised funds will be mainly used for the R & D and upgrading of high-end products and the global market layout.
High-voltage generators and X-ray sources are the core components of medical imaging, industrial non-destructive testing, semiconductors, and high-end instruments. They belong to complex multi-disciplinary engineering projects, with high requirements for product performance, consistency, and reliability. They are the core "heart" components of many important core equipment. The cutting-edge technologies and high-end markets in this field have long been dominated by overseas brands. With the accelerating wave of domestic substitution of downstream medical and industrial high-end equipment, the autonomy and controllability of upstream core components have become the focus of the industry.
As a leading enterprise in the field of high-energy particle core application systems in China, Best Electric focuses on the independent R & D, production, and sales of special high-voltage power supplies, X-ray sources, high-voltage generators, and other products. The downstream application fields of its products fully cover the three core fields of medical imaging, industrial testing, semiconductors, and high-end instruments, becoming an important core support for the upgrading and development of downstream industries.
Currently, Best Electric has built five technology platforms, including power electronics, high-voltage insulation technology, software and intelligent control, thermal management, and materials science. It has industry-leading R & D capabilities in high energy (100kW), high voltage (20 - 450kV), high frequency (500kHz), high precision, and miniaturization, aiming to solve the "bottleneck" problems of core components in high-end medical imaging, industrial testing, high-end instruments, and other fields.
Hard Kr has learned that, from the specific indicators of Best Electric's products, in terms of software, hardware, and materials, all of its products have achieved high-power soft-switching high-frequency inversion. The company is one of the few in China that has mastered the insulation design technology for cathode/anode grounding and uses the "yellow brick material" with both high insulation and low leakage radiation rate.
In terms of control and testing, it has mastered the kV fast switching technology (rise/fall time < 100us), realized the X-ray source with infinite heat capacity technology through fluid calculation and finite element simulation, and achieved automation of high-voltage oil injection and full-performance testing.
Based on the above technological accumulation, Best Electric has not only achieved a leading market share and high-end customer coverage in industrial and medical X-ray imaging equipment but also extended its business to the field of core components of semiconductor equipment. The high-voltage power supply for ion implanters developed by the company has broken the long-term monopoly of overseas enterprises (such as AE and XP) and will be officially sold in 2025.
Since 2023, Best Electric has been increasing its expansion in the overseas market. The proportion of overseas revenue has exceeded 30% and is growing rapidly, covering regions including North America, Europe, Belt and Road countries, and Africa. To support the overseas strategies of its downstream customers in the medical field, Best Electric has made continuous investments for many years, comprehensively improving its R & D and system capabilities. As of now, it is the only company in China and one of the three in the world in the high-voltage generator field to have passed the EU CE - MDR standard. In the future, the sales coverage and proportion in the overseas market will be further increased.
Investors' Views:
The Ruili Medical Investment Team said: "High-voltage generators and X-ray sources are the core basic components of high-end equipment and the key links in industrial upgrading. Currently, the trend of domestic substitution is clear, and Chinese enterprises have prominent cost - performance advantages in the overseas market. As a leading enterprise in this field, Best Electric has profound technological accumulation and a complete product line, especially outstanding in breaking into the high-end market. We are optimistic about its long - term development potential and look forward to promoting the company's technological innovation and capacity expansion through the synergy of capital and industrial resources."
Tian Min, a partner of Yuanjing Capital, said: "Best Electric is a rare enterprise in the high-voltage generator field that combines forward R & D strength with the ability to commercialize new technologies. We are optimistic about the company's product and technology breakthrough capabilities in high - end scenarios, especially its rapid growth and expansion capabilities in the overseas market. Yuanjing Capital will rely on its investment layout and resource accumulation in the fields of high - end manufacturing and medical devices to fully support the company in further expanding the market and accelerating its global layout, making it an important participant in the global high - voltage generator field."