36Kr learned that “Huaqiu Electronics”, a one-stop service platform for the electronics industry, announced that it has received another 300 million yuan in Series C+ financing. This round of investment was led by Hillhouse Ventures, with existing shareholders Joy Capital and Shunwei Capital continuing to invest. Yunmu Capital served as the exclusive financial advisor for this round of financing.

After this round of financing, Huaqiu Electronics will deepen the digital and intelligent supply chain platform for the electronics industry and provide one-stop services for electronics supply chain companies. In March this year, "Huaqiu Electronics" has received hundreds of millions of yuan in Series C investment from Shunwei Capital, Hillhouse Ventures, and Joy Capital.

At the business level, currently, "Huaqiu Electronics" has completed the layout of industrial ecological modules in three aspects: media community, electronic supply chain services, and industry incubation.

The media community is one of the earliest directions for "Huaqiu Electronics". Its "Electronics Enthusiast" website has been launched in 2009. It has a community of more than 4.7 million engineers and serves more than 90% of domestic and foreign chip and component original manufacturers and solution providers. It is also one of the official partner communities of Huawei HarmonyOS.

Among the major sectors of electronic supply chain services, "Huaqiu Electronics"'s industrial services cover solution development, intelligent manufacturing, e-commerce sales, and software services. Its main businesses include: PCB design and manufacturability analysis software "Huaqiu DFM", "Huaqiu Intelligent Manufacturing" which provides one-stop SMT chip/PCBA OEM services, "Huaqiu Circuit", a high-reliability multilayer board manufacturer, and "Huaqiu Mall".

"Huaqiu DFM" can analyze hidden design risks with one click, predict problems and prevent quality defects before production, help electronics companies reduce manufacturing costs and reduce product defect rates, and can perform real-time price assessments, warn of price factors, and clarify cost reduction directions. This software also breaks the monopoly and expensive pattern of foreign software. It is the first domestic software with independent intellectual property rights that is open to industry users for free.

In addition, "Huaqiu Electronics" is also a PCB board R&D manufacturer. It has previously invested in the construction of the Huaqiu Jiujiang PCB Industrial Park covering an area of ​​205 acres, with a designed monthly production capacity of more than 140,000 square meters;

"Huaqiu Mall" provides customers with one-stop solutions such as "component selection, procurement, BOM ordering, and overseas purchasing." It is understood that the platform has established long-term strategic cooperation with Panasonic, Toshiba, and thousands of brand original manufacturers and authorized distributors, and its self-operated spot inventory SKU that can be shipped on the same day has reached 200,000+.

Chen Suibo told 36Kr that the business expansion logic of “Huaqiu Electronics” is to achieve one-stop digital integration of the industry. The electronics industry chain is very long and fragmented. To provide good platform services, you need to go deep into the industry chain. The first step to achieve this is to make the core data online, and then use the data to further optimize services and performance.

He said that in terms of the old business "electronics enthusiasts" media community, the company will continue to improve the richness of highly sticky users and users; on the lower supply chain service side, it will further build one-stop service capabilities.

in the country, there are many related electronic industry service platforms. Chen Suibo believes that the competitive advantage of "Huaqiu Electronics" is that it is one of the most complete platforms in the industry, and the ecosystem can achieve a closed loop. The company's front-end media platform has a large number of engineering groups, and these groups have considerable decision-making power in the industry. Secondly, the company also has a complete industrial chain service foundation, which can convert front-end traffic and users.

In the next step, "Huaqiu Electronics" will also engage in industrial empowerment and incubation business, providing supply chain support, traffic support and investment opportunities for innovation teams, including PCB manufacturing and component procurement.

Capital evaluation

Xiao Yongqiang, executive director of Hillhouse Ventures, said: "As an infrastructure for smart manufacturing, Huaqiu Electronics has built a one-stop service platform for the industrial supply chain for the electronics engineer community. Founder and CEO Chen Suibo has a deep understanding of the blind spots and pain points of the traditional electronics industry based on his experience as an engineer."

Liu Erhai, founding and managing partner of Joy Capital, said: "Joy Capital pays special attention to hard technologies that can become infrastructure, and the innovation and creation of hard technologies that can help the industry after becoming infrastructure. CEO Chen Suibo leads the Huaqiu team to relentlessly explore new technologies, solve industry pain points and difficulties, and reshape the modern flexible electronics supply chain with digital intelligence."

Li Rui, partner of Shunwei Capital, said: "Huaqiu Electronics has comprehensively opened up the upstream, midstream and downstream of the industry, forming a closed-loop ecosystem of the electronics industry chain, bringing a one-stop service platform with 'high reliability, short delivery time and high cost performance' to the industry, and injecting impetus into the innovation and development of China's electronic information industry."

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