Longcher completed round C financing of more than RMB 1 billion, accelerating the layout of intelligent terminal market

       A few days ago, Shanghai Longcheer Technology Co., Ltd. has raised RMB 1 billion in the Series C financing, led by China Internet Investment Fund, Shanghai MtM Fund, Yunfeng Capital, and GP capital. The shareholders of the B round financing, Forebright Capital and HuaXu Investment Fund also participated in this financing. Huatai United Securities held the role of exclusive financial advisor for this financing.

       Founded in 2002, Shanghai Longcheer Technology Co., Ltd. focuses on design, R&D, manufacturing and service on smart phone, tablet, smart wearable, smart home, smart speaker, VR/AR and other smart terminal products. Its business cover many countries and regions around the world and provides professional intelligent terminal product solutions for world leading technology enterprises (Facebook, Amazon, Samsung, Xiaomi, Lenovo, etc.). After this round of financing, Longcheer will increase fundings in R&D and technology on 5G emerging technologies (including R&D of 5G smart terminal products, research and application of 5G basic technologies). In order to accelerate completion in AIoT’s blueprint and their R&D and operations of related new products, and focus on the upgrading and building of smart factories.

       Before now, based on scientific and technological innovation, Longcheer has built informationization industrial and manufacturing base in Huizhou and Nanchang, with 5G intelligent products, intelligent logistics such as the black lamp factory automation manufacturing. Longcheer insists on high standards production operation system and strict quality level. At the same time, through constructing industrial Internet platform, optimizing production processes, improve the operating efficiency, profit growth, Longcheer has greatly enhanced its high-end manufacturing capabilities.

      "Intelligent manufacturing is an inherent demand for the transformation and upgrading of China's manufacturing industry, as well as an important opportunity for the innovative development of the manufacturing industry," China Internet Investment Fund manager claimed. Longcheer, as the leading intelligent product design and manufacturer, insists on driving technological innovation, providing customers with high quality mobile terminal solutions, and active strategic layouts of 5G + AIoT areas, promoting the intelligent development of industry. We look forward to the future in upgrading our manufacturing capability, boost domestic consumer electronic intelligence further play a role of guide led the rise of supply chain."

      Shanghai MtM Fund said: "Intelligent terminal is the most concentrated scene in the semiconductor products downstream applications. Longcheer as the leading enterprises of domestic intelligent terminal ODM manufacturers, the upstream chip suppliers product landing and upgrade has a huge strategic importance. Longcheer Tech has important strategic significance to accelerate China's semiconductor and independent controllable industrial chain. Shanghai MtM Fund has always been committed to giving full play to the advantages of the semiconductor industry and contributing to the rapid growth of China's semiconductor industry, which is highly consistent with the development philosophy of Longcheer ."

      "The consumer electronics industry will continue to thrive in the future with the new wave of 5G and AI technologies and innovations in new forms of IoT applications," said Yunfeng Fund. As one of the leading enterprises in the ODM field of consumer electronics, Longcheer is a key node of the industrial chain. Based on this investment, Yunfeng Fund will help the company develop industrial synergies and promote industrial innovation."

     At present, the product line of Longcheer covers mobile phone, tablet, wearable device, smart home, AR/VR, etc. While maintaining the core business of mobile phone and tablet to achieve continuous scale growth, the company has also accumulated mature technology precipitation and experience on the track of AIoT industry.

      In the future, Longcheer will increase the strategic layout of 5G+AIoT field, and continue to invest in software algorithms, automation equipment, key parts, electronic components, precision structural parts and other aspects, to meet the upgrade of intelligent industry requirements.

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