AMOLED driver chip supplier Sheng Micro completed 100 million yuan Series A financing

Recently, Sheng Microelectronics (Suzhou) Co., Ltd. (hereinafter referred to as: Sheng Micro) completed the A round of financing of 100 million yuan. This round of financing was led by Yuanhe Puhua and SMIC Juyuan, a well-known investment institution in the industry. Beyond Moore, Hongtu Zhanlu, Huiqi Investment, and Suosheng Investment followed suit. The financing funds will be used for the research and development of new products, production investment and talent construction.

Founded in 2018, Sheng Microelectronics is a fabless integrated circuit design company focusing on AMOLED driver chips for smartphones and smart wearable devices. Since its establishment, the company has developed a variety of driver chips, all of which have reached the international advanced level, and have been quickly recognized by customers. More than 5 million chips are shipped this year, and more than 10 million are expected to be shipped in 2022.

AMOLED displays have stronger Display brightness, wider display color gamut and higher contrast ratio than traditional LCD displays, and can achieve curved surfaces and folding. Products penetrated to low-end products. Omdia expects 40% of smartphones to use AMOLED screens in 2022. The threshold for AMOLED driver chip design is relatively high. For a long time, the market has been occupied by chip manufacturers in the United States, South Korea and Taiwan, and the localization rate is less than 1%. Since its establishment, Sheng Micro has always adhered to the nationalization of the supply chain, benchmarked against the international first-tier manufacturers in the key performance of chips, and strived to become a local AMOLED driver chip design manufacturer with international competitiveness.

Chen Datong, chairman of Yuanhe Puhua Investment Committee, said that as the mainland’s OLED panel industry matures, downstream end customers are increasingly accepting domestic OLED panels. As an important part of the industrial chain, OLED driver chips work together with panel manufacturers to promote industrial upgrading and have a broad market space. As one of the earliest teams engaged in the research and development of OLED driver chips in China, Ascension Microelectronics has profound technical and industrial accumulation, and has served world-class terminal manufacturers, and is expected to become a leading enterprise in this field.

Sun Yuwang, president of SMIC Juyuan, said that OLED driver chip products have high barriers, long track and large space. At present, domestic enterprises are still in the stage of competition. Sheng Micro has been deeply involved in the industry for many years, with solid technology accumulation and good development momentum. It is expected to stand out from the competition and become the mainstream supplier of domestic OLED driver chips.

Dr. Zhu Ning, founder and general manager of Sheng Micro, thanked the investors for this round of trust and support for Sheng Micro. This financing not only enabled Sheng Micro to obtain sufficient funds, but also strengthened its links with the upstream and downstream industries. After the accumulation in the past few years, Sheng Micro has the foundation to further expand the market. After this financing, Shengwei will increase the research and development of innovative products, further strengthen the cooperation with brands, and strive to improve the localization rate and independent control of AMOLED driver chips!

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