FundingSep 29, 2026Entry № 788
AI chip thermal interface material maker Hongfucheng lists on Shenzhen ChiNext, with AI chip customers contributing over 60% of 2025 revenue
Shenzhen Hongfucheng New Materials Co., Ltd. listed on the Shenzhen ChiNext board on 29 September 2026 after a six-and-a-half-month review. The IPO raised about $174 million (RMB1.22 billion) to fund an advanced electronic functional materials base, an R&D center and a global marketing network. The company says its vertically oriented graphene process produces TIM1-grade thermal pads with longitudinal conductivity up to 130 W/m·K, and its metal-carbon composite revenue rose from $59,000 (RMB410,000) to $27.4 million (RMB192 million) in 2025. Direct and indirect AI chip customers provided over 60% of 2025 revenue.
Original sources (Chinese)
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