Tianjin Zhonghuan Semiconductor
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
* | N/A | Post IPO Equity | |
| Total Funding | 000k | ||
| CNY | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | 13 % | 116 % | 63 % | (12 %) | (52 %) | 26 % | 24 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | 26 % | 25 % | 22 % | 27 % | 9 % | - | - |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | 6 % | 10 % | 10 % | 6 % | (35 %) | - | - |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| R&D % of revenue | 3 % | 5 % | 4 % | 4 % | 3 % | - | - |
Source: Company filings or news article, Equity research estimates
The story of Tianjin Zhonghuan Semiconductor, or TJSemi, begins not in a garage, but as a state-owned enterprise. Founded in 1958, the company's origins are rooted in China's broader industrial ambitions. For decades, it focused on the foundational building blocks of the electronics industry: semiconductor materials like silicon wafers. This wasn't a venture-backed startup, but a government entity tasked with developing critical technology. A major turning point came in 2007 when the company went public on the Shenzhen Stock Exchange. This IPO marked a shift, introducing market dynamics to the state-controlled firm and providing capital to expand its reach, particularly in the burgeoning solar industry where its monocrystalline silicon wafers were in high demand. The most significant transformation occurred in 2020. In a landmark event of state-owned enterprise reform, electronics giant TCL Technology acquired TJSemi's parent group for approximately $1.6 billion. The move was strategic for TCL, aiming to secure its supply chain for semiconductor displays and push deeper into the high-growth renewable energy sector. Following this, in 2022, the company was officially renamed TCL Zhonghuan Renewable Energy Technology, cementing its new identity and strategic direction under TCL's ownership.
