On August 21, Shenzhen Innovation Investment Group (referred to as “Shenzhen Venture Capital”) has invested in the enterprise – Jiangsu Xiechang Electronic Technology Co., LTD. (referred to as “Xiechang Technology”), stock code: 301418) Listed on the GEM of Shenzhen Stock Exchange, becoming the 259th enterprise that Shenzhen Venture Capital has invested in and promoted to be listed, and the 20th invested enterprise that will be listed in 2023.

According to reports, Xichang Technology is mainly engaged in the research and development, production and sales of motion control products and power chips, and the products are mainly used in electric vehicles based on electric bicycles. The downstream customers of the company’s motion controller are mainly large and medium-sized electric bicycle manufacturers. With reliable product quality and active market development, the company’s overall business scale in the downstream electric bicycle field continues to expand.

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According to the latest announcement, the company expects the operating income from January to September 2023 to be 425 million to 480 million yuan, an increase of 3.74% to 17.17%; It is expected to return to the mother’s net profit of 83 million yuan to 95 million yuan, an increase of 3.3% to 18.23% year-on-year. As of the close, shares of Xiechang Technology rose 93.10% to 100.18 yuan, with a total market value of 7.347 billion yuan.

Public information shows that over the years, Xiechang Technology has formed a core technology system with independent intellectual property rights. The company has been rated as Suzhou High Quality Microcontroller and power device Engineering Technology Research Center, Jiangsu Power Semiconductor device (MOSFET) engineering technology Research center. The company’s power chip products have obtained a lot of technical level related certification. Up to now, Xechang Technology has obtained 250 patents, including 12 invention patents, 93 utility model patents, and 15 software Copyrights through Jiangsu Province Specialized special new “Little Giant” and Jiangsu Province Enterprise Technology Center.

The prospectus shows that the total investment of Xichang Technology’s raised capital investment project is expected to be 420 million yuan, mainly to invest in motion controller production base construction projects, power chip packaging and testing production line construction projects, power chip research and development and upgrading and industrialization projects. The company is actively preparing for the development of a series of forward-looking research and development projects, such as the research and development of deep channel gate type superjunction power MOSFET, the research and development of superjunction power MOSFET with built-in fast recovery diode, and the research and development of a new IGBT chip based on SGT architecture. Xichang Technology continues to improve its core competitiveness, consolidate and improve the existing market position, and promote the localization of high-end power chips.