Microcore New Materials Technology Co., Ltd. ("Microcore"), a company previously invested in by Dinghui Baifu, recently completed a funding round exceeding one billion RMB in Series C financing, with Dinghui Baifu leading the investment. Dinghui Baifu had previously invested in Microcore's Series B round in 2022, and this additional investment reflects Dinghui Baifu's strong confidence in the critical "bottleneck" segment of the semiconductor supply chain. It also signifies ongoing recognition of Microcore's development in the field of photoresist raw materials. Simultaneously, Dinghui Baifu has played a key role in supporting the establishment of Microcore's production base in Huzhou, enhancing fund-industry synergy, improving product categories, expanding production capacity, and positioning itself as a pioneer in domestically-produced photoresist raw materials.
Founded in 2018, Microcore has established a comprehensive production and quality control system for photoresist monomers and photoresist resins. The mature and stable production line can provide high-quality monomers in quantities exceeding one hundred tons (Grade 3 and above). The various polymerization methods mastered by the company can cover the demand for photoresist resins with different molecular weight distributions (PDI ranging from 1.0 to 2.1). The scarce photoresist resin production line has the capability for batch supply of photoresist resin, and the company's products have gained recognition from top customers in Japan and South Korea. Microcore's experience in supplying Korean and Japanese customers in bulk has accumulated a wealth of process control and product specification parameters for supplying high-purity chemicals. The company continuously optimizes its electronic-grade chemical processing capabilities to meet customer demands for electronic-grade control of liquid and solid products. Building upon this foundation, the product line has been further enriched and perfected, achieving comprehensive coverage in KrF photoresist monomers and breakthroughs in photoresist-specific solvents. Microcore has filled the gap in the domestic high-quality semiconductor photoresist monomer and resin industry chain, dedicating itself to contributing to China's breakthrough in the semiconductor photoresist "bottleneck" challenge.
The funds raised in this financing round will be used to strengthen the company's research and development capabilities, improve the company's analytical equipment platform, establish the second production base in Huzhou, actively expand into more urgently needed or higher-end semiconductor specialty chemicals, and build a business model that synchronously develops three electronic-grade chemical types: monomers, resins, and solvents.
In addition, Dinghui Baifu has supported the company in completing the establishment of its production base in Huzhou. On September 16th, the Industrial Group of Huzhou City, in collaboration with Linghu Town, Nanxun District, unveiled the establishment of the Yangtze River Delta Semiconductor New Materials Industry Park, focusing on the two core industries of semiconductor new materials and biomedicine. Microcore, as the first landing project in the industrial park, officially signed the contract recently, with a total investment of 350 million RMB, covering an area of 35 acres, and constructing a production base for the annual output of thousands of tons of electronic-grade photoresist raw materials (core materials such as photoresist resin and high-grade monomers).
As the legal advisor to Dinghui Baifu, Llinks provided professional legal services for Dinghui Baifu's investment in Microcore's current funding round, leveraging its extensive experience in the investment and financing field.
Llinks Team:
Partners: Selena She, Colin Shi
Contractual Partne: Joyce Zhang
