Innovative Semiconductor Substrate Technology Co., Ltd.

Innovative Semiconductor Substrate Technology Co., Ltd. — known in Chinese as 青禾晶元 (Qinghe Jingyuan) — is a semiconductor materials company founded in 2020, focused on heterogeneous integration: advanced composite substrates, wafer-level material integration, advanced packaging, and ultra-precision processing, targeting the yield, cost, and performance bottlenecks of advanced semiconductor materials and devices. Per Yunqi Capital, which backed it at Pre-A and has followed it since its early days, it is one of the few companies globally holding a full stack of advanced semiconductor materials and heterogeneous integration technology, and it operates China's first advanced composite substrate mass-production line — built in Tianjin's Binhai High-Tech Zone, where the first equipment moved in in late 2022 — producing 6-inch and 8-inch homogeneous and heterogeneous composite substrates via bonding integration. On funding, it raised over 300 million yuan in a round announced in July 2024 with investors including Shenzhen Capital Group, Yuanzhi Xinghuo, and Chipown, earmarked for advanced bonding equipment and bonded-substrate line construction; more recently, per Yunqi's Q1 2026 quarterly, it completed a roughly 500 million yuan strategic financing.