Recently, the Hubei Regulatory Bureau issued the "Basic Information on Counseling Work for Companies in Hubei Jurisdiction for Initial Public Offerings (as of the end of December 2020)", disclosing the filing of Wuhan Minxin Semiconductor Co., Ltd.'s proposed initial public offering and guidance for listing.
Founded in December 2017, Minxin Semiconductor is a high-tech enterprise focusing on laser and detector chip products for optical communications, integrating R&D, manufacturing and sales. The company's main business is 2.5G/10G/25G full range of laser and detector optical chips and packaging products, providing high-quality products and services for optical device and optical module manufacturers.
On December 18, 2020, Minxin Semiconductor announced that the company has successfully completed the B+ round of financing. The lead investor is Hillhouse Ventures, and the co-investors include SMIC and Yuanhe Puhua, well-known investment institutions in the semiconductor field in China. In the second half of 2020, Minxin Semiconductor completed two consecutive rounds of financing, with a cumulative financing amount of more than 400 million yuan.
Zhang Hua, chairman of Minxin Semiconductor, said that under the dual drive of strategy and cost, the localization of optical chips is the general trend. Minxin Semiconductor is on the fast track of full-speed development, and financing funds will mainly be invested in product development and production line expansion. Zhonggo, accelerate the deployment of 5G fronthaul and data center markets, and empower new infrastructure.
Huang Liming, a partner of Hillhouse Ventures and head of Software and Hardware Technology at Hillhouse Ventures, said that with the advent of the 5G era, the speed of widely used optical modules has increased to 25G. In the data communication market, the demand for 100G optical modules is still increasing. At present, only low-speed optical chips with a speed of 2.5G in my country have achieved a high degree of localization. The field of high-end chips with speeds of 10G, 25G and above is in urgent need of breakthrough. Therefore, companies such as Minxin Semiconductor with medium and high-speed optical chip R&D and manufacturing capabilities have huge room for growth.
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