Lihao Semiconductor

About Lihao Semiconductor

Qinghai Lihao Semiconductor Materials Co., Ltd. operates as a manufacturer and developer of high-purity crystalline silicon intended for semiconductor materials. The company was established in April 2021, with its headquarters in Xining, China. Lihao Semiconductor focuses on the mass production of both high-purity polycrystalline silicon for the photovoltaic industry and electronic-grade crystal silicon. Its primary clients are companies within the renewable energy and semiconductor sectors.

The company's establishment was followed by significant and rapid development. In December 2021, it completed its Series A funding round with participation from notable investors including IDG Capital. By September 2022, Lihao Semiconductor secured approximately $307 million (CNY 2.2 billion) in a Series B financing round, which saw participation from both new and existing shareholders such as Changjiang Securities Innovation Investment, China-U.S. Green Fund, and IDG Capital. This funding propelled the company to a unicorn valuation within 18 months of its founding. The capital raised has been allocated to the construction of a multi-phase manufacturing project and to bolster research and development efforts.

Lihao Semiconductor is undertaking a substantial three-phase manufacturing project with a total investment of CNY 18 billion. The goal is to achieve an annual production capacity of 200,000 metric tons of high-purity silicon material. The first phase of the project, with a capacity of 50,000 tons, became operational in August 2022. A subsequent project in Sichuan province was launched to establish an annual capacity of 100,000 metric tons of high-purity silicon for photovoltaic use and 2,000 metric tons of electronic-grade crystal silicon. Upon full completion, the projects are expected to generate significant annual output value and provide thousands of jobs. The company has also signaled its intent for a potential Hong Kong IPO in 2025.