In investment news, Suzhou Guoxin Tongchuang Glass Technology Co., Ltd. (hereinafter referred to as "Guoxin Tongchuang"), a research, development, and manufacturing company specializing in new electronic glass, announced that it has recently completed an angel round of financing exceeding ten million yuan. This round of financing was exclusively invested by the Suzhou Industrial Park Industry Fund. Guoxin Tongchuang stated that following this round of financing, it will establish mechanized production lines to further expand its market share.

Guoxin Tongchuang focuses on the research and production of green and environmentally friendly new electronic glass. As one of the few domestic enterprises that have truly mastered the core technology of electronic glass, it not only produces electronic glass products but also ensures that the performance and quality of its products meet or exceed those of similar foreign products.

Moreover, Guoxin Tongchuang's electronic glass products are superior to those of foreign companies in terms of product and production process environmental friendliness. The company's invention of green and environmentally friendly new electronic glass fundamentally solves the problems of high energy consumption and high pollution in the traditional electronic glass production process. Currently, its products have achieved domestic substitution.

"Although Guoxin Tongchuang has not been established for a long time, the company's chief scientist and core team have been engaged in the research and production of electronic glass for over 50 years. Previously, several products have broken the technological monopoly of European and American companies in electronic glass, achieving domestic substitution," said Wang Xiaozhong, founder and CEO of Guoxin Tongchuang. "The photomultiplier tube glass previously invented now occupies 97% of the global market. The ultraviolet-transmitting glass produced with this financing has product quality and performance that have reached the level of similar foreign products, while the product does not contain harmful substances such as lead and is environmentally friendly. Currently, the products are all exported to the European and American markets, attracting the attention of many ultraviolet lamp companies. It is expected that the revenue in 2023 will reach 60 million yuan."

Electronic glass refers to a high-tech glass material with special functions such as photoelectricity and magnetoelectricity, widely used in the fields of photons, electronics, and optoelectronics. It provides key basic materials for industries such as computers, the internet, home appliances, and electronic components, serving as an upstream enterprise for these industries. According to industry data, the size of China's electronic glass market reached 107.7 billion yuan in 2020, but more than 80% of the market is monopolized by foreign enterprises, mainly by American Corning and German Schott.

Electronic glass is the foundation of the electronics industry, but China's electronic glass industry has long been monopolized by European and American companies. Over 90% of electronic glass varieties in China cannot be produced domestically, a situation that has seriously threatened the security of China's electronics industry. The country has listed electronic glass as a strategic industrial layout to achieve domestic substitution. Among the four innovation centers in China's manufacturing industry announced by the Ministry of Industry and Information Technology in November 2021, electronic glass and pharmaceutical glass are ranked second.

Wang Xiaozhong further introduced: So far, the company has developed five series of new electronic glass products, has obtained one invention patent authorization, and has one invention patent announced. It is expected to apply for 6-7 invention patents in the next three years. The company plans to start Series A financing in 2023 to further expand production capacity and market share.

Guoxin Tongchuang was established in January 2020. The founder and CEO, Wang Xiaozhong, has more than 25 years of experience in high-tech enterprise management; the chief scientist, Wang Yingmin, has been engaged in the research and production of electronic glass for more than 50 years, inventing dozens of electronic glass products, achieving domestic substitution in the nuclear industry. In addition to the nuclear industry, he also invented the picture tube for China's first color TV, the microchannel glass required for Chinese military night vision devices, and the lithium-ion scintillator glass required in the field of high-energy physics in China; the factory director, Yuan Zhentao, has been engaged in glass machine tube drawing for more than 30 years, serving as a manager and chief engineer in several well-known domestic enterprises. The team is composed of senior experts in their respective fields, complementing each other's strengths. Wang Xiaozhong said: The next step will be to establish its own research and development center, further recruit talents, and enhance its technical strength and research and development capabilities.