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Recently, the official disclosure platform of the China Securities Regulatory Commission (CSRC) revealed that Feimian Technology (Shanghai) Co., Ltd. (referred to as "Feimian Technology") has completed its IPO counseling registration with the Shanghai Securities Regulatory Bureau, with Huatai United Securities acting as the sponsor.
Public information shows that Feimian Technology was founded in 2012 and is rooted in Baoshan District, Shanghai. It is a leading enterprise in China for high-end instruments and equipment used in the R&D, preparation, and measurement of advanced electronic materials. The company has been awarded multiple honors, including the Specialized, Refined, Differential, and Innovation "Little Giant" enterprise by the Ministry of Industry and Information Technology (MIIT), Shanghai High-Tech Enterprise, and Shanghai Specialized, Refined, Differential, and Innovation Enterprise.
The starting point of this story traces back to the Fudan University campus more than a decade ago.
In 2004, Zhao Jiafeng and his classmate Ou Hongwei were directly admitted to the postgraduate program at the Department of Physics, Fudan University. They studied under Academician Feng Donglai, who was teaching at Fudan at the time, and through this, they met Xie Binping, a senior student one grade above them. The three shared similar interests and often worked together on scientific research.
At that time, high-end equipment in domestic physics laboratories was highly dependent on imports. Therefore, even as the purchasing party, communicating with suppliers was extremely frustrating.
Once, an imported ultraviolet light source lamp worth millions of CNY in the laboratory broke down. They contacted the Swedish manufacturer for after-sales maintenance, but the manufacturer attributed the problem to "poor water, electricity, and gas supply." Unwilling to accept this, Zhao Jiafeng and his fellow students spent CNY 6,000 to modify and upgrade the equipment themselves, and the equipment never had any problems again. This incident also became an important starting point for their later determination to develop domestic high-end instruments.
However, after graduation, the three did not rush into entrepreneurship. Instead, they agreed to work first and accumulate start-up funds. Three years later, in a shared office of about ten square meters, the three PhDs majoring in Condensed Matter Physics from Fudan University embarked on their entrepreneurial journey.
After more than a decade of continuous deep cultivation, Feimian Technology has established fully independent and controllable underlying technological capabilities in four core fields: ultra-high vacuum, precision temperature control, thin film preparation, and plasma technology. With a cumulative total of over 200 patents, it is one of the few domestic high-end instrument and equipment enterprises that have achieved full-chain independent control.
Relying on these four major technological foundations, Feimian Technology has formed four mature product lines: scientific instruments, plasma technology, semiconductor thin films, and industrial measurement, building a complete product matrix from the laboratory to scaled production lines.
In the scientific instruments product line, Feimian Technology's ultra-high vacuum interconnection systems, quantum material preparation systems, and others have served top scientific research institutions such as Tsinghua University, Peking University, Fudan University, and the Chinese Academy of Sciences.
In the field of plasma technology, the company's independently developed products, such as high-brightness ultraviolet light sources, ultraviolet irradiation testing systems, and ultraviolet component testing systems, are widely used in cutting-edge industrial fields such as semiconductor metrology and inspection, as well as R&D testing. Notably, one of their ultraviolet light sources has successfully replaced the imported product that once frustrated the team.
In the semiconductor thin film product line, products such as wafer-level MBE (Molecular Beam Epitaxy) systems and ultra-high vacuum cleavage coating systems benchmark against international giants. They have been delivered in batches to leading domestic semiconductor enterprises, playing a key role in cutting-edge fields such as 5G communications, infrared detection, LiDAR, and quantum computing.
Of particular note is the industrial measurement product line. Feimian Technology's independently developed XPS (X-ray Photoelectron Spectroscopy) system has made the company one of the few global suppliers capable of providing wafer-level XPS metrology solutions. XPS is a core tool for surface chemical analysis and thin film material metrology, possessing irreplaceable strategic value in semiconductor process control. The key breakthroughs achieved by Feimian Technology in this field are providing crucial equipment support for the domestic semiconductor industry chain.
Given the continuous technological breakthroughs, Feimian Technology has completed the full closed-loop verification from scientific research to industry. Scientific research products have been delivered in batches to over a hundred top institutions including Peking University, Tsinghua University, and Fudan University, while semiconductor equipment has entered the supply chains of leading domestic manufacturing enterprises and gained high market recognition.
While steadily advancing on the industrial front, Feimian Technology has also maintained a rapid pace on the capital front.
In December 2018, the company completed a Series A financing of tens of millions of CNY, with Zhuli Capital as the investor. In November 2021, it completed a Series A+ financing, with Huawei's Habo Investment joining. In 2022, it completed a Series B financing, with investors including Feitu Venture Capital, Guoke Jiahe, and Shenliu Capital.
In May this year, Feimian Technology completed a Series C financing of hundreds of millions of CNY. This round of financing was jointly participated in by more than ten national-level industrial capitals and well-known institutions, including Furong Investment, Fudan Innovation, National Machine Tool Fund, Yuanhe Puhua, and Shenzhen Capital Group.
With only four months between the Series C round and the IPO counseling, Feimian Technology's capitalization pace has significantly accelerated. Whether this Fudan-affiliated company can become the "first domestic listed company for high-end scientific instruments" is worth continuous observation.
Editor | Liu Chengxing Source | Compiled from the internet