Another hard core IPO was born. According to the news from the investment community, Weijie Chuangxin successfully landed on the science and innovation board today. The IPO price is 66.60 yuan / share, and the latest market value is 18 billion yuan. At the helm of this little noticed chip company is Rong Xiuli, a post-60s female founder. In 1963, Rong Xiuli was born into a working family in Henan Province and was admitted to Hunan University at the age of 16. After graduation, she first worked in the tractor Research Institute in her hometown for ten years before she began to go into business. In the era of using BPs, Rong Xiuli began to act as a mobile phone agent. Later, she founded Tianyu mobile phone, which was popular for a while, and its sales volume once ranked first among domestic mobile phones. However, with the rise of smart phones and the desolation of Tianyu mobile phones, Rong Xiuli turned to enter the chip field, founded Weijie Chuangxin in 2010 and settled in TEDA. Along the way, Weijie Chuangxin has gathered a huge group of investors behind it - including Huaxin investment, yuanhepuhua, Walden International, noble capital and other VC institutions; There are also many well-known domestic mobile phone manufacturers such as MediaTek, Huawei, oppo, vivo and Xiaomi. Through Weijie Chuangxin, we see the rising integrated circuit industry in Tianjin. On the land of this coastal city, China's first silicon single crystal and Zhonghuan shares with a market value of 100 billion have been born, and it is about to rush out of the first haiguang information of domestic CPU. Not only that, Tianjin is also a hot land for investment. Baidu, Alibaba and weir shares have all come... There are countless examples. Tianjin has left its name on China's semiconductor territory. From the mobile phone godmother to the chip queen, she gained her first IPO with a market value of 18 billion This is an entrepreneurial story of a small town girl in Henan who started from scratch. In 1963, Rong Xiuli was born into an ordinary working family in Xinxiang, Henan Province. She was admitted to the school of mechanical and automotive engineering of Hunan University in 1979, majoring in internal combustion engine. After graduating from University, Rong Xiuli was assigned to a tractor Research Institute in her hometown as an engineer. Her main job was to study the internal combustion engine of tractors for 10 years. But Rong Xiuli doesn't like this step-by-step life. After seeing people around her go to business, she can't help thinking. Therefore, Rong Xiuli, who dared to break through and fight hard, came to Beijing and got an MBA from China Europe Business School. She used her career to travel to France, Italy and other countries and broaden her horizons. In 1994, Rong Xiuli entered the Beijing Office of Hong Kong Longcheng trading company. This job has completely changed the course of her life. During a customer survey, Rong Xiuli found that there were huge business opportunities for mobile phones in the Chinese market, so she suggested that the boss of the company take the agency right of Baili in China. But I didn't expect that this proposal made Rong Xiuli's company lose 1.6 million. Feeling guilty, Rong Xiuli gritted her teeth and decided to bear the debt. In 1995, Rong Xiuli took over the company's inventory and the agency of Briggs & Fung and established Briggs & Fung communications. After three years of adjustment, Rong Xiuli won the agency rights of Samsung, Ericsson and other brands, and the annual sales of the company has exceeded 1 billion yuan. However, Rong Xiuli soon realized that the market space of mobile phone agents was limited after all, so she decided to make her own brand of mobile phones. At the end of 2002, Rong Xiuli took out all her family wealth of 10 million yuan, registered Tianyu Langtong communication equipment company, and embarked on the road of independent research and development. In the early stage of entrepreneurship, Rong Xiuli once spared no expense to hire Silicon Valley experts to develop mobile phones. However, the product quality of the first batch of Tianyu mobile phones had serious problems, which made Rong Xiuli lose a full 80 million yuan. Due to the high cost of research and development, she turned to outsourcing, introducing the then China mobile phone chip company in Taiwan. Relying on marketing and low price strategy, Tianyu mobile phone stands out from many domestic Shanzhai machines. The shipment volume of Tianyu mobile phones reached 17 million, and 21 million in 2008, with a sales revenue of 8 billion yuan, ranking first in the market share of domestic brand mobile phones. This year, the Hurun it rich list was released. Rong Xiuli ranked 11th with a wealth of 4.2 billion yuan, known as the "mobile phone godmother". Unfortunately, Tianyu missed the best time for transformation in the process of the transition from functional machine to intelligent machine. In 2010, Meizu, Xiaomi and other mobile phone brands rose rapidly into the Chinese Internet market. However, while everyone was still lamenting the desolation of Tianyu mobile phone, Rong Xiuli turned and entered the chip industry. In 2010, Rong Xiuli founded Weijie Chuangxin in Tianjin Binhai New Area, and entered the field of RF front-end chips. The RF power amplifier module (PA module) mainly sold by Weijie Chuangxin is the core module necessary for mobile terminal equipment to realize cellular network connection, Wi Fi, Bluetooth, GPS and other wireless communication functions. As the first batch of companies engaged in RF front-end chips in China, Weijie Chuangxin products have been applied to smart phone brand companies such as Xiaomi, oppo and vivo, as well as leading ODM manufacturers such as Huaqin communication, Longqi technology and Wentai technology. Other products have also realized mass supply to terminal brand manufacturers. According to the prospectus, Weijie Chuangxin shipped more than 1.2 billion 4G RF power amplifier modules and more than 100 million 5g RF power amplifier modules during the reporting period. According to the list of Chinese chip design enterprises 2020 released by CB insights, the company's 4G RF power amplifier product shipments rank first among domestic manufacturers. In terms of performance, Weijie Chuangxin has the problem of increasing income without increasing profit. According to the prospectus data, from 2018 to the first half of 2021, the company's operating revenue was 280 million yuan, 580 million yuan, 1.81 billion yuan and 1.7 billion yuan respectively, of which the average annual compound growth rate from 2018 to 2020 reached 152.48%. It is worth noting that the net profit of Weijie Chuangxin did not increase synchronously. The prospectus disclosed that the net profits attributable to the owners of the parent company after deducting non recurring profits and losses were -40.2832 million yuan, - 32.9544 million yuan, - 100.8274 million yuan and -16.5041 million yuan respectively. If Weijie Chuangxin wants to improve its profitability and strive for higher profit space, it needs to seize the opportunity of 5g era. At present, the company has achieved mass production and sales of 5g RF power amplifier modules in early 2020, with a total shipment of more than 100 million, which has been applied to a variety of products of well-known end customers. Today, Weijie Chuangxin officially landed on the science and innovation board, with a market value of 18 billion. At the same time, the low-key Rong Xiuli walked into the public view again as the chairman of Weijie Chuangxin. This means that after several twists and turns, 59 year old Rong Xiuli finally got her first IPO in her life. After eight rounds of financing, domestic mobile phones supported an IPO, and the female leader's wealth soared by 4.5 billion Behind Weijie Chuangxin, a group of well-known semiconductor VCs gathered. Since its establishment, Weijie Chuangxin has completed at least 8 rounds of financing. In the investment matrix, there are not only first-line VCs such as noble capital, Huaxin investment, yuanhepuhua and Huadeng international, but also upstream and downstream manufacturers in the mobile phone industry chain, such as MediaTek, Huawei, oppo, vivo and Xiaomi. Back in 2016, the team of Puhua capital (Yuanhe Puhua) was looking for high-quality projects in the PA (power amplifier) track. Since several executive partners had been working in the chip field for many years, they soon noticed the emerging vijet core. At that time, Weijie Chuangxin had taken the lead in mass production of 4G products, was the first enterprise to complete the verification of key customers, and was firmly in the first echelon in China. Niu Junling, the managing director of Puhua, recalled to the investment community that the most important thing at that time was that Weijie Chuangxin had a complementary and mature core team. "Founder Rong Xiuli started as a Tianyu mobile phone and has a deep understanding of the terminal industry. CEO sun Yijun and the technical team have rich experience in large foreign manufacturers. In this way, the probability of entrepreneurial success is bound to be high." Finally, after a year of tracking and research, Puhua invested in 2017 and accompanied Weijie Chuangxin on the stage of IPO bell ringing. After a lapse of more than a year, Walden International participated in the round B financing of Weijie Chuangxin in November 2018. At that time, great changes took place in the domestic chip industry - the rise of 4G mobile phones required multi band modules. "Such modules are very complex and the industry threshold has become higher. They require a lot of comprehensive capabilities, including production and testing, which can not be done by a small company." Huang Qing, managing director of Walden International, said, "Weijie Chuangxin's team is a rare team with complete links from product definition, R & D, quality control, production, testing, marketing and sales. It has the opportunity to become a leading enterprise, which is very worthy of investment." Not only that, Rong Xiuli's personal characteristics are also admired by Walden International. In the view of David Wang, a partner of Walden International Venture Capital, "President Rong is indomitable. With his deep understanding of the industry and mastery of customer resources, he has helped Weijie Chuangxin grow all the way and created another brilliance in his career. Walden is very happy to have the opportunity to cooperate with President Rong with courage and keen business vision to witness the success of Weijie." It is worth mentioning that according to the ownership structure, gaintech is the largest institutional shareholder of Weijie Chuangxin, with a shareholding ratio of 28.12% before the IPO. The low-key gaintech is actually a company under MediaTek, an IC design manufacturer, and this investment dates back to April 2019. Weijie Chuangxin also disclosed in the prospectus that at that time, MediaTek was optimistic about the future development prospect of the RF front-end chip industry for a long time based on its industrial status as a leading SOC chip design enterprise in the world. At the same time, it was also continuously seeking investment opportunities for high-quality growth enterprises in the RF front-end industry. Finally, after long-term follow-up and continuous communication, out of recognition of Weijie Chuangxin products and technologies, the two sides signed gaintech capital increase agreement, and MediaTek subsidiary gaintech took shares in the issuer in the form of financial investment. Subsequently, in October 2020, Huawei's Hubble investment, oppo mobile, vivo's vivo mobile and Xiaomi fund obtained corresponding shares at the price of 18.85 yuan / share. According to the equity transfer price, the overall valuation of Weijie Chuangxin at this time is 1.035 billion yuan. In March last year, gaintech signed the share transfer agreement with kunwei management and others. Kunwei management spent 180 million yuan to hold 1.50% of the shares before the issuance of Weijie Chuangxin, and the share price was 33.33 yuan / share. It is worth mentioning that the post investment valuation of Weijie Chuangxin has soared to 12 billion yuan. This also means that in less than half a year, Huawei and other mobile phone giants have nearly 11 times the floating profit of their investment in Weijie Chuangxin. With the successful landing of Weijie Chuangxin on the science and technology innovation board today, this number is refreshed to 18 times. Of course, Rong Xiuli's wealth will rise. According to the prospectus, Rong Xiuli directly and indirectly holds 24.19% of the shares of Weijie Chuangxin; General manager Sun Yijun directly and indirectly holds 14.1% of the shares of Weijie Chuangxin. By signing the agreement on concerted action, both parties hold a total of 38.29% of the company's shares and are the joint actual controllers of Vijay Chuangxin. Based on the opening market value of 18 billion, Rong Xiuli's personal wealth will rise by 4.5 billion. Tianjin, a neglected semiconductor City, is expected to make its first IPO With the successful IPO of Weijie Chuangxin, the outside world impressively found that the integrated circuit industry in Tianjin is rising strongly. When it comes to Tianjin, everyone's first reaction will be "the hometown of Quyi". It's hard to think of the hard core semiconductor industry. In fact, Tianjin is an old city of integrated circuits