Xinlian Equity Investment (Hangzhou)

Xinlian Equity Investment (Hangzhou) is a wholly-owned subsidiary and the dedicated corporate venture capital arm of Semiconductor Manufacturing Electronics (Shaoxing) Corporation, a major Chinese pure-play foundry for power semiconductors. The Hangzhou-registered entity invests SMEC's corporate balance-sheet capital into the upstream and downstream semiconductor ecosystem. It does not manage third-party limited partner capital.

Deal flow originates primarily through SMEC's existing commercial relationships with fabless chip designers, module integrators, and automotive original equipment manufacturers. Because SMEC manufactures devices for much of China's power-semiconductor supply chain, Xinlian evaluates potential portfolio companies based on proprietary production data and direct technical diligence at the parent foundry before writing equity checks.

Zhao Qi serves as Executive Director and General Manager, leading the investment team. Final investment decisions are made within Xinlian's internal committee, subject to the strategic priorities set by SMEC's senior management and board, consistent with a wholly-owned corporate venture capital governance structure.

Yes. Xinlian's most notable publicly recorded co-investment — in portfolio company Xinlian Power Technology — involved syndication alongside Xiaomi Zhizao Fund, Liling Fund (Luxshare Precision's family office vehicle), SAIC Shangqi Capital, and XPeng Xinghang Capital. This structure embeds Xinlian's portfolio directly into the supply chains of China's largest electric-vehicle and electronics manufacturing groups.

Xinlian Invests across seed, start-up, expansion, and late-stage venture rounds, with a preference for direct equity positions in companies whose technology roadmaps align with SMEC's manufacturing capabilities. The firm's corporate parent structure permits holding periods that extend beyond the typical 8-to-10-year fund lifecycle, allowing participation at multiple stages of a portfolio company's development.

The firm concentrates on the power-semiconductor stack, including silicon carbide (SiC) devices and modules, insulated-gate bipolar transistors (IGBTs), and automotive-grade semiconductor packaging. Adjacent industrial technology and mobility electrification assets that create demand for the parent foundry's wafer capacity also fall within mandate.

No. As a wholly-owned corporate venture capital subsidiary, Xinlian deploys capital solely from Semiconductor Manufacturing Electronics Corporation's corporate balance sheet. It does not operate a fund-of-funds model or accept external institutional limited partners.