Guoyao Science Innovation Fund, City Angel Fund Jointly Invest TBSTest, helping China "core"



On the afternoon of January 9, the company's sub-funds of the Municipal Science and Innovation Investment Fund-Guoyao Science and Innovation Fund and City Angel Fund, held a signing ceremony for investing in Hefei TBSTest Technology Co., Ltd. (hereinafter referred to as "TBSTest") , The event was grandly held in the Intelligent Equipment Technology Park of the Economic and Technological Development Zone.


  Yang Xiaoyang, Director of Resource Allocation and Management Division, Department of Science and Technology of Anhui Province, Xu Xihong, Director of Anhui Science and Technology Achievement Transformation Service Center, Wang Yabin, Deputy Director of the Management Committee of Economic and Technological Development Zone, Huang Qing, Director and General Manager of Walden International, Vice President of Anhui Guokong Group Manager, General Manager Cheng Hongbo of Provincial Science and Technology Transfer Fund Company, Yuan Fei, Director and General Manager of Industrial Investment Group, Jiang Xin, Deputy General Manager of Industrial Investment Group and Chairman of the Company, Changxin Storage Ping Erxuan and Guoyao Science and Technology Innovation Fund, City Angel Fund, Three representatives of TBSTest attended the event.


    


  At the meeting, Hans Zhang, chairman of TBSTest, delivered a speech, extending a warm welcome to all the guests, expressing heartfelt thanks to all parties for their support, and introducing the company's situation and business progress. Wang Yabin, Deputy Director of the Management Committee of the Economic Development Zone, Huadeng International Huang Qing, and Changxin Storage Ping Erxuan respectively congratulated the signing of the project and expressed expectations for the future development prospects.

  During the exchange, Yuan Fei pointed out that Hefei has always paid attention to the development of the integrated circuit industry and is committed to building the "IC Capital". Practicing the promise, the first phase of the city’s efforts invested 10 billion US dollars to build a Changxin memory manufacturing base project, 15 billion yuan on behalf of Anhui Province, and an active participation in the second phase of the National Integrated Circuit Industry Investment Fund, and a total scale of 10 billion jointly initiated by Walden International Industry investment M&A funds. He highly affirmed the key equipment of domestically produced integrated circuits developed and mass-produced by TBSTest, and said that the Industrial Investment Group will further promote and support the localization of key equipment through major industries such as the Changxin project.


Jiang Xin said that as a wholly-owned subsidiary of the Industrial Investment Group, the company has formed a two-wheel-drive operating model of policy-based “angel funds” and market-oriented “venture capital funds” in recent years. Since its establishment, the company has achieved remarkable results in fulfilling state-owned venture capital obligations and supporting the development of small and medium-sized enterprises in the province. Up to now, it has supported nearly 500 enterprises, including 12 IPOs and mergers and acquisitions backdoor listings, and 8 companies are applying for IPOs. Guoyao Science and Innovation Fund is the first sub-fund of the Provincial Science and Technology Achievement Conversion Fund to participate in shares, further enriching the innovative investment market-oriented "venture investment fund" system. In recent years, it has supported a group of start-up semiconductor companies such as Chipsall Microelectronics, Hengshuo Semiconductor, Chips Valley Microelectronics, and Lianrui Microelectronics, and participates in the fixed growth of Zhaoyi Innovation as an industrial investor, and promotes the integration of the integrated circuit industry in Hefei. Under the lead of the production and investment group, the company has linked up with the group in the integrated circuit industry to build a comprehensive, full life cycle, and entire industry chain investment system。


  Subsequently, Guoyao Science and Technology Innovation Fund and City Angel Fund signed an investment agreement with TBSTest under the witness of the leaders at the meeting.

  In the future, the company will further fulfill its state-owned venture capital obligations, continue to increase its efforts to tap high-quality integrated circuit projects, continuously increase the investment intensity and investment quota of the integrated circuit industry, and use the existing fund system investment portfolio to collect resources from all parties. Gather the forces from all walks of life to promote the development of Hefei's integrated circuit industry and form an integrated circuit industry chain ecosystem.




Project Description


  TBSTest is a rare semiconductor equipment project that is introduced in the Economic Development Zone, and it is also a key cooperative enterprise of the Changxin project. The company's main semiconductor testing equipment is committed to the localization of various large-scale integrated circuit testing equipment. Its self-developed Soc testing equipment fills the gap in domestic high-end testing equipment. However, the company is still in the early stages of product introduction and market development, and there is an urgent need for operating funds and lack of supporting related industrial resources. After being recommended by Walden International and after the company's full due diligence, it believes that TBSTest has leading technical strength, reasonable team configuration, broad industry prospects, and fits the city's development plan to build the "IC Capital". Immediately played a policy-based and market-oriented investment portfolio punch-City Angel Fund and Guoyao Science and Technology Innovation Fund invested in Yuexin Technology. TBSTest is the first project invested by the Guoyao Science and Innovation Fund, and also the first project invested by the Provincial Science and Technology Achievement Transformation Fund through a shareholding sub-fund.

This investment is the embodiment of the purpose of promoting the establishment of the Guoyao Science and Technology Innovation Fund by the provincial and municipal science and technology departments and supporting the development of local technology-based enterprises. Deepening international cooperation and working with the Economic Development Zone to build a model of a national-level memory industry agglomeration base is the best proof that Changxin Project is committed to the localization of core equipment.



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