The 15th China International Nanotechnology Industry Expo (referred to as "Nanotech Expo") successfully concluded amid widespread anticipation. This year's event featured one keynote speech, 15 parallel forums, and hosted 605 cutting-edge presentations. Additionally, it included an innovation and entrepreneurship competition, along with three supply-and-demand matchmaking sessions. The expo brought together over 150 nationally recognized talents and more than 500 top-tier experts from leading universities, research institutions, and industry organizations both domestically and internationally. With an exhibition area spanning 25,000 square meters, the event attracted over 350 of the world's leading companies and institutions, showcasing more than 2,400 of the latest nanotechnology products and innovative applications from around the globe. Over the three-day event, nearly 27,500 attendees participated in total, making this the largest-ever edition of the expo and elevating its global influence to unprecedented heights.

On the occasion of this grand event, Xin Shiyeye conducted exclusive interviews with several outstanding companies across China's micro- and nanomanufacturing industry chain, presenting a special feature report. This article is an exclusive interview by Xin Shiyeye. Professor Wu Xiangfang, Co-founder, Director, and Chief Technical Advisor of Pengcheng Semiconductor Technology (Shenzhen) Co., Ltd. (hereinafter referred to as "Pengcheng Semiconductor") The authentic record.

About Pengcheng Semiconductor

Pengcheng Semiconductor was co-founded by an engineering team with over 20 years of experience in semiconductor equipment R&D. As a benchmark enterprise for the deep integration of industry, academia, and research, the company leverages the advanced R&D platform and cutting-edge testing resources of Harbin Institute of Technology (Shenzhen), focusing on micro- and nanotechnology as well as high-end precision manufacturing. It has established a comprehensive, end-to-end R&D system spanning semiconductor materials, processes, and equipment. The company's core technologies include: Physical Vapor Deposition (PVD) / Chemical Vapor Deposition (CVD) Process equipment R&D, independently developed Magnetron Sputtering Coating Machine 、 Molecular Beam Epitaxy (MBE) Core products such as equipment, and achieving breakthroughs in the field of semiconductor materials.

Wu Xiangfang, the company's co-founder, previously served as a researcher at the School of Materials Science and Engineering, Harbin Institute of Technology (Shenzhen), and as a professor at the Center for Micro- and Nanoelectronic Technologies and Systems at Southern University of Science and Technology. His research focuses on process development and the R&D/manufacturing of complementary process equipment for substrate materials and epitaxial wafers used in second- and third-generation semiconductors. Earlier in his career, he worked at the Shenyang Institute of Automation under the Chinese Academy of Sciences, where he specialized in artificial intelligence and robotics, contributing to China’s Seventh Five-Year Plan project and playing a key role in establishing the National Robotics Demonstration Engineering Base and the National Key Laboratory of Robotics. He also serves as an expert committee member for several industry associations.

Please introduce the company's basic information.

Pengcheng Semiconductor is a high-tech enterprise initiated and led by Harbin Institute of Technology (Shenzhen), officially registered and established in Shenzhen in September 2021. The company aims to address the deep-rooted technological challenges facing Shenzhen's local industries, while also aligning with the nation’s strategic imperative to achieve self-reliance and control in critical sectors—giving it an important political mission in the process.

The company's core team is jointly composed of PhDs, professors from the Key Laboratory at Harbin Institute of Technology Shenzhen Campus, and seasoned engineers from the industry, all dedicated to the fields of micro- and nanotechnology and atomic-level manufacturing, with operations spanning the broader semiconductor industry. Currently, the company has grown into a team of more than 80 members. In 2024, the order value reached 40 million yuan, and it is expected to climb to around 60 million yuan in 2025, with projections exceeding 100 million yuan in 2026.

What are the company's core technologies and products?

The company's core technology is "Nanometer- and Atomic-Level Manufacturing" This technology stems from the team's more than 20 years of continuous technical expertise, accumulated since 2003. Building on this foundation, the company has established a fully integrated "materials-device-equipment" industrial chain, positioning itself as a leader in this ecosystem. Not only does the company independently develop and manufacture the micro- and nano-scale equipment required for its processes, but it also produces the corresponding materials and devices in-house. Due to international technological blockades, the company has achieved 100% domestic production of all critical equipment and core manufacturing processes, ensuring complete autonomy and control over its technologies.

The company’s business model has evolved from being a mere supplier of equipment or materials to becoming a "technology service provider." Now, the company brings along both products and cutting-edge technology, Providing customers with customized solutions and high-level technical services, nanoscale and atomic-level manufacturing combined with multidisciplinary integration empowers industries across the board. The primary customer groups include:

1. Defense Industry Enterprises : Collaboratively developing cutting-edge, high-precision technology products.

2. Listed companies across the upstream and downstream segments of the industry chain : Providing core materials, devices, or process services.

3. National-level research institutions : Such as national key laboratories, which support cutting-edge innovation research.

4. High-Level Talent Team Such as Yangtze River Scholars and overseas returnees, providing robust industrial and technological support for the commercialization of their scientific research achievements.

How has Pengcheng Semiconductor achieved rapid growth despite limited capital as a startup?

In the early days of its establishment, the company secured only 15 million yuan in angel funding from private equity firms in the social sector, with 1 million yuan earmarked to support the university’s laboratory—and thus leaving a total of 14 million yuan available for operational use. Despite these limited financial resources, the company adopted a survival and growth strategy that combined the "Blue Ocean Strategy" with a "Special Task Force Model."

1. Strategic Level: Seize the "Blue Ocean"—Choose “Unique to me” or projects with transcendent qualities

• Avoiding the Red Ocean: Faced with industry giants that are well-capitalized and hold strong market shares, the company chose not to engage in homogeneous competition within mature markets.
• Focus on "what others don’t have" and achieving breakthroughs: Strategically prioritize niche areas that giants haven’t yet entered or aren’t yet equipped to address, or excel by surpassing existing technologies. Only when a particular field becomes "something only we can do" will customers be compelled to choose us—thereby sidestepping the disadvantage of low brand awareness and market recognition.
• Dimensional Leap in Competition: The company positions itself as a "technology service provider" rather than a "supporting enterprise." For instance, when customers require a specific type of component that multiple equipment suppliers cannot fulfill… , The company relies on Leveraging its technological capabilities, the company not only provides equipment but also offers a comprehensive set of process solutions, enabling it to deliver fully qualified products directly. This "service"-oriented approach goes beyond mere "manufacturing," empowering the company to take the lead in the industry chain—and even integrate equipment from leading firms to successfully complete projects.

2. Tactical Level: Building a "Special Operations Team" to Achieve Ultimate Efficiency

• Team Building: The company has extremely high expectations for its teams, demanding "special forces operatives" who are adept at "cross-disciplinary collaboration and possess multi-faceted expertise." Employees must simultaneously master a wide range of skills—including mechanical, electrical, software, and process engineering—as well as demonstrate exceptional individual capabilities in their respective fields.
• Cost and Efficiency Control: By leveraging our "plug-and-play" modular, standardized product design, we significantly reduce both the engineering costs and installation time required for on-site setup and commissioning. For instance, our equipment typically only requires one "special operations team member" to travel for 5 days (including round-trip logistics) to complete installation, acceptance testing, and training—whereas competitors may need to send 2 to 3 personnel, taking over 10 days or more. This approach delivers a substantial advantage in terms of labor, travel, and time costs, enabling us to transform projects that would otherwise be unprofitable into highly lucrative business opportunities.
• Strict screening and elimination: Employees who fail to meet the "Special Forces Team" standards will undergo a six-month training program. If they still cannot reach the required level after the training, they will be immediately dismissed. At the heart of team building lies the cultivation of a corporate culture centered around "innovation, efficiency, and responsibility."

The company was co-founded by the Harbin Institute of Technology (Shenzhen) team and industry engineers. How does this "academia + industry" collaboration model enable complementary strengths in the early stages? And what is the most critical breakthrough needed to move from a technology lab to full-scale industrial implementation?

Looking back, the fact that our startup has made it this far today is actually a rare event.

Once a strategy goes wrong, defeat is inevitable; and even if the direction is correct, a single tactical mistake—such as causing a cash flow breakdown—can leave you stranded halfway. We started with just 14 million, without any major funding rounds, yet we’ve managed to stay on track without making any fatal errors—this in itself is no small stroke of luck. But more importantly, what lies behind our success is that we’ve discovered a path that truly works.

The company's origin lies at Harbin Institute of Technology's Shenzhen campus. Shenzhen provided funding to establish the campus, with the hope that the university would not only produce academic papers but also help tackle technical challenges faced by local industries. Yet, the reality is this: professors and businesses simply aren't on the same wavelength.

Schools pursue papers, titles, and project completions; enterprises focus on costs, delivery, and Market returns. When languages and goals differ, collaboration naturally struggles to take root. Even initiatives like "university-enterprise joint laboratories" often end up being mere formalities—money is spent, but no real progress is made. More critically, many industry challenges aren’t theoretical problems—they demand practical, hands-on expertise. For instance, a company recently asked: "Our headphones produce significant noise; could we design a circuit that effectively reduces noise while maintaining high-fidelity sound quality?" Such issues can’t be solved simply by publishing academic papers, as they involve countless intricate product details. What’s needed instead is robust, product-level engineering capability. Yet professors typically lead just a few graduate students, with limited resources and experience. Feet—it's really hard to catch them.

So we came to realize a simple truth: rather than expecting professors to understand businesses, it’s better for the professors themselves to get directly involved and start their own enterprises.

So we simply decided to establish our own company—Pengcheng Micronano. This isn’t just about superficial transformation; it’s about genuinely developing products, actively exploring the market, and directly engaging with customers. We must make a profit—and more importantly, we have to survive. In this process, our team has gradually cultivated a true industry mindset: understanding what cost control means, mastering rapid iteration, and recognizing the value that truly matters to our customers. Now, we not only grasp technology but also comprehend business dynamics, effectively serving as the "translator" that bridges the gap between academia and industry.

Our model is clear: we build "production" capabilities in-house and seamlessly integrate industry, academia, and research into a closed-loop system. Technology starts in the lab, gets transformed into products by us, and after being validated in the market, feeds back into R&D—enabling us to further serve more businesses. We’re not here to fulfill political mandates; instead, we’re a profit-driven enterprise. And precisely because of this, we can continuously invest—and keep innovating.

Now, we’ve established a solid influence within the industry, serving numerous enterprises and earning recognition from the sector. This hasn’t been achieved through empty slogans—but rather by our products, revenue growth, and proven ability to thrive. At its core, a business exists to turn a profit. But wanting to make money doesn’t automatically mean you’ll succeed; it’s a true test of a team’s capabilities, as well as effective management, smart capital strategies, and expertise in navigating the ever-evolving market landscape. We’ve not only survived but are now starting to "rise" stronger than ever. And on this vital journey—from the lab all the way into the heart of industry—we’ve successfully paved the path forward.

What are the company's talent development and management philosophies?

There are mainly two key points.

• Management takes charge personally: The core of human resources—“recruiting” and “developing talent”—must be directly overseen by the General Manager and the Executive Vice President, not delegated to the HR Manager. After all, the true decision-makers must clearly understand what kind of people their teams truly need.
• "Warrior" Culture: Since the company’s current size isn’t particularly large, we’re temporarily hiring only mature talents aged 26 and above. We expect our employees to be self-reliant "warriors" who can handle responsibilities independently—rather than individuals who need "care." Our corporate culture emphasizes proactive initiative.

What unique strategies does the company have for market expansion?

The company's market strategy is built on strong technological confidence and clear business logic.

• Precise Targeting: The company deeply understands that to scale up, it must secure major orders from leading enterprises in niche application areas. Therefore, our market development efforts are focused squarely on top-tier industry clients.
• Strong Negotiating Power: Leveraging the irreplaceable nature of our technology, we hold significant leverage in business negotiations. For instance, when signing contracts worth over 20 million yuan, we insisted on a 65% upfront payment to offset our substantial R&D and construction costs—far exceeding the industry standard of 20%–30%. Yet, backed by robust technical justification and compelling logic, we ultimately won the client’s agreement. As a result, the first contract—totaling 23.52 million yuan—came with an impressive 15.28 million yuan as the initial down payment, ensuring the company’s cash flow remains rock-solid and secure.
• Rapid Scaling: Since officially launching its market promotion in July 2024, the company has already secured orders exceeding 37 million yuan within just five months—from August to the end of the year—demonstrating the robust growth potential of its business model.

What are the company's plans for future development?

The company's development can primarily be divided into three stages.

• Funding Plan: The company is currently valued at 300 million yuan, and we plan to raise 50 million yuan in funding. These funds will be used for infrastructure development, market expansion, and replenishing working capital. Sufficient liquidity will enable the company to adopt more competitive business models, such as "deliver first, pay later," further helping us broaden our market presence.
• Strategic Layout: Adopting a "Dual-Location Collaboration" model. Shenzhen serves as the R&D center, responsible for pioneering technology exploration, while Shenyang acts as the product design hub and manufacturing base. Leveraging Shenyang's advantages—lower labor costs, an abundance of multidisciplinary talent, and a robust industrial foundation—we aim to achieve effective cost control. The investment output of 14 million yuan in Shenyang is equivalent to the investment output of 25 million yuan in Shenzhen.
• Long-term vision: The company will evolve into a platform-based group corporation—“Pengcheng Semiconductor.” With the headquarters serving as the “chain leader,” it will leverage Capital operations—such as mergers and acquisitions—integrate resources, enabling the establishment of multiple specialized subsidiaries under its umbrella, each focusing on distinct niche areas like materials or equipment, thereby fostering a sustainable, innovation-driven industrial ecosystem.

How do we view the future trends in technology?

Humanity is transitioning from the "silicon-based era" to the "carbon-based era." Diamond semiconductors, with their exceptionally high thermal conductivity, are an ideal cooling material for addressing critical challenges such as heat dissipation in highly integrated, high-performance AI chips and high-frequency communication devices. They also stand out as the "ultimate semiconductor material," boasting exceptional durability even under extreme environmental conditions—and thus hold vast market potential. The company has already begun establishing a presence in the diamond wafer segment, with small-scale production already underway.

Additionally, long-range, lightweight batteries and 3D printing in the low-altitude economy The high-quality metal/ceramic powders, among others, are all These are "opportunity points" where there is significant unmet demand in the current market. This is precisely where the allure of technological innovation lies—because whoever can first address these pain points will be poised to capture a massive share of the market.

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