Chinese semiconductor equipment maker Grand Hitek and auto parts supplier BWI Group have each raised 500 million yuan ($68.7 million) in new financing.
BYD, CATL supplier Grand Hitek raises $68.7m
Grand Hitek, a Chinese manufacturer of dry vacuum pumps essential for creating and maintaining a sterile environment during the chip manufacturing process, has closed a new funding round of 500 million yuan.
The 10-billion-yuan ($1.4 billion) government capital operator, Beijing New Materials Industry Investment Fund, led the deal, with the participation of investment firms like Shanghai-based Real Power Capital; and Mirae Asset Capital, the China private equity (PE) arm of South Korea’s Mirae Asset Financial Group.
Existing shareholder Fortune Capital re-upped in the transaction, according to a Monday WeChat post by Fortune Capital.
The Beijing-headquartered company plans to invest the new funding in furthering its R&D of pan-semiconductor vacuum system solutions, exploring new use cases, and recruiting top industry professionals.
Grand Hitek, founded in 2012, has supplied mainstream dry vacuum pumps and core precision parts to clients across sectors including semiconductor and beyond, such as display panel, solar photovoltaic, LED lighting, and lithium battery manufacturing.
Its strategic partners include electric vehicle giant BYD, electric component producer BOE Technology Group, and battery maker Contemporary Amperex Technology Co Limited (CATL).
Auto parts maker BWI closes $68.7m
Chinese auto parts supplier BWI Group, which counts Volkswagen and Chinese EVs like BYD and Xpeng among its clients, has secured 500 million yuan to speed up the adoption of its products in the EV sector.
BWI, whose name stands for “build worldwide intelligence,” raised the strategic investment from a 5-billion-yuan ($686.7 million) new energy vehicle-focused industry fund bankrolled by Shenzhen Investment Holdings Capital, a state capital investor in southern China, the company announced on Monday.
BWI, a supplier to over 50 auto brands in China and globally, operates a network of 10 manufacturing facilities, seven technology R&D centres, and two test fields in China, North America, and Europe. It also runs a software centre in Shanghai.
The new investment came almost two years after BWI completed a big-ticket Series A round in June 2023. The company raised 2 billion yuan ($274.7 million) in the previous deal led by Zhangjiakou Financial Holding Group, a local government-owned financial group in northern China.
A few state capital operators from Shenzhen and private equity firm Hopu Investments participated in its Series A round.
