Chengtai Technology Completes A+ Round of Financing

Shenzhen Chengtai Technology Co., Ltd. has successfully completed its A+ round of financing. This round of investment was led by the SME Development Fund managed by Yida Capital, and co-invested by the listed company Xinleineng [300593] and Founder Hesheng, a wholly-owned subsidiary of Founder Securities [601901]. Chengtai Technology has end-to-end capabilities in the research and development and mass production of millimeter-wave radar products in various frequency bands such as 77G, 79G, 24G, and 60G, and can provide customers with complete millimeter-wave radar sensors and systems. Since the company invested nearly 10 million yuan in 2018 to build its first radar automation production line, it has designed and built three industry-leading millimeter-wave radar automation production lines with an annual production capacity of more than 1 million units. Chengtai Technology's millimeter-wave radar products have been widely used in the original equipment market of passenger cars (7 companies and 11 models), commercial vehicles (6 companies and 9 models) and special vehicles (2 companies), and provide a large number of customized development services for major customers in the security and transportation industry markets. It is a trustworthy professional manufacturer of millimeter-wave radar sensors. The company has now entered a period of explosive growth, with sales of 20,000 radars in 2019 and more than 100,000 in 2020. In the next few years, sales will at least double every year, and it is expected that shipments will reach 1 million in 2022.