Recently, the A+round financing of Shenzhen Chengtech Technology Co., Ltd. was successfully completed, mainly for team expansion, new product research and development and market expansion. This round of investment is led by the SME Development Fund managed by Yida Capital, and jointly invested by the listed company Xinleineng [300593] and Founder Securities [601901], a wholly-owned subsidiary of Founder Hesheng.

Shenzhen Chengtech Technology, founded in 2016, is a well-known millimeter wave radar enterprise in China, and passed the national high-tech enterprise certification in 2018. In 2019, it passed the IATF16949 and ISO9001 system certification.

The main members of the company's founding team are from Huawei's R&D department.Chengtech's technology team is pragmatic, low-key, and tough. It has strong RF technology and productization capabilities. It adopts a platform based development model, rapid iteration, and ultimate cost performance. Compared with foreign same-sex products, the price is only 1/5 to 1/3. In 2020, it will be the first to launch the fifth generation of domestic millimeter wave radar in the industry, and it is a leader in localization breakthrough.

Chengtech Technology has end-to-end capabilities in product development and mass production of millimeter wave radars in 77G, 79G, 24G, 60G and other frequency bands, and can provide customers with complete millimeter wave radar sensors and systems. Since the company invested nearly ten million yuan in 2018 to build its first automatic radar production line, it has designed and built three industry-leading automatic millimeter wave radar production lines with an annual capacity of more than 1 million.

Chengtech millimeter wave radar products have been widely used in the front loading market of passenger vehicles (7 vehicles with 11 models), commercial vehicles (6 vehicles with 9 models) and special vehicles (2 vehicles), and provide a large number of customized development services for key customers in the security and transportation industries. Chengtech is a trusted professional manufacturer of millimeter wave radar sensors.

At present, the company has entered an explosive growth period, with 20000 radars sold in 2019 and more than 100000 in 2020. In the next few years, it will at least double every year. It is estimated that the shipment volume will reach 1 million in 2022.

Chengtech Technology will continue to adhere to: "Make the best radar and change the world with millimeter wave technology!" We are committed to becoming a professional, leading and high-quality millimeter wave radar supplier.

[Yida Capital] is one of the most influential venture capital institutions in China, and ranks among the top in the industry in terms of industry research capacity, asset management scale, investment specialization, etc. As of July 2020, the management team of Yida Capital has managed a total of 108.7 billion yuan of capital. It has invested and supported 864 entrepreneurial enterprises, helping 193 of them to land in domestic and foreign capital markets.

[Xinleineng [300593]] is a national high-tech enterprise listed on the GEM. It is a domestic power electronics company with strong technical strength and large scale. Its products are widely used in communication and network, aerospace, on-board ships, railway power and other industries. "Xinleineng Power Supply" is a high-end brand with leading competitive position and brand influence in the domestic power industry.

[Founder Hesheng] is a wholly-owned subsidiary of Founder Securities, a private investment fund subsidiary of a securities company registered with the China Securities Investment Fund Association, and has been awarded the title of "Top 10 Private Investment Fund Subsidiaries of China's Best Securities Firms" for many years in succession. Founder Hesheng's core team has more than 10 years of experience in the capital market, and has rich experience in private fund management, equity investment, mergers and acquisitions, and other related fields.