In a bid to break the foreign monopoly on flash memory test equipment, Lingcun Technology has developed its own testing technology and customized firmware. By accurately evaluating the lifespan of flash memory in a short period of time, the company aims to enhance testing efficiency and reduce costs. With this new financing, Lingcun Technology plans to complete the construction of a fully automated production line for flash memory chip testing. The project is expected to require 100 production lines, with an estimated annual output value of RMB 1.14 billion (USD 173 million).
The flash memory testing industry plays a crucial role in determining the cost of storage devices, such as solid-state drives (SSDs). With the rising demand for SSDs in various industries, including automotive and electronics, Lingcun Technology’s flash memory chip testing equipment aims to reduce costs by 30% to 50% compared to similar products in the market. The company intends to help consumer SSD manufacturers strike a balance between cost reduction and quality maintenance.
Beyond chip testing and SSD production, Lingcun Technology plans to expand its production line to include wafer testing, packaging, and the manufacturing of various finished products like SD cards, eMMC, CF cards, UFS, and USB drives. The company estimates that the annual output value will exceed RMB 20 billion (USD 3 billion) once the entire production line is operational.
Lingcun Technology boasts a highly experienced research and development team, comprised of experts from large domestic military enterprises, with a focus on storage security in the military field. Its products have gained recognition globally, with over 5,000 customers in more than 50 countries and regions. International companies such as Volkswagen, Boeing, and Siemens are among Lingcun Technology’s clients.
Chen Huaisen, investment director of Shenzhen Investment Control Donghai Investment, expressed confidence in Lingcun’s technological leadership and business performance. He believes that Lingcun’s expertise in storage technology, coupled with its complete strategy, will contribute to industry development and the production of high-quality, cost-effective products and services.
The completion of the round A financing represents a significant milestone for Lingcun Technology as it seeks to revolutionize China’s flash memory testing industry and strengthen its position in the global market.