Storage leader Changxin Technology landed on the Science and Technology Innovation Board today. In the script for a ten-year breakthrough in domestic DRAM, a group of venture capital shareholders with a luxurious lineup are worth watching. According to the reporter's analysis, the VC/PE behind the company can be divided into four categories: first, national funds and provincial and municipal state-owned assets; second, top industrial capital such as Ali, Tencent, Meituan, and Xiaomi; third, financial institutions such as banks, securities, insurance, etc.; and fourth, well-known first-tier market-based investment institutions, such as Qianhai Mother Fund, Cornerstone Capital, and Junlian Capital. Changxin Technology's capital story is a typical example of patient capital empowering hard technology. The experience of the reverse layout of cornerstone capital is quite representative. Recently, the reporter interviewed Zhang Wei, chairman of Cornerstone Capital, to review this major investment of 1.2 billion yuan. The storage industry has been warm and cold in recent years, and many funds seeking short-term returns have left the market halfway, but Cornerstone Capital initially insisted on running with the original intention of long-term strategic investment. “Storage companies have a long production expansion cycle, compounded by cyclical fluctuations in the industry. The ideal exit window is to wait for the next round of storage upward cycle.” Zhang Wei said that at the time, the team estimated that when the second phase of the production line is fully implemented, Changxin's revenue is expected to hit 30 billion yuan, and it is expected to surpass SMIC in terms of revenue and market capitalization.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.