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CoStone Capital Invested In YUWEITEK



Recently, integrated circuit quantity testing equipment professional supplier YUWEITEK has successfully completed its Series B financing with the support of multiple institutions, with CoStone Capital participating as an investor. The Series B financing will be used for new product development, continuous research and development investment, and the expansion of core product layout in the integrated circuit front-end quantity testing field.

YUWEITEK is a technology-driven innovative enterprise that provides advanced equipment for integrated circuit manufacturing, driven by both market and technology. The company serves customers in the fields of integrated circuit manufacturing, advanced packaging, compound semiconductors, and emerging displays, providing competitive products and technological solutions. Since its establishment, YUWEITEK has been dedicated to the research, development, production, and sales of two major categories of dedicated equipment for detecting and measuring integrated circuits including mask defect detection, wafer defect detection, wafer lithography measurement equipment, and other products.

CoStone Capital believes that there is significant development potential in the quantity testing equipment industry, given the background of semiconductor domestication. In the future, there will be multiple domestic semiconductor production lines being established, with a high level of certainty in the equipment sector. As one of the core equipment for wafer manufacturing processes, quantity testing equipment holds great value.

In terms of core technology, YUWEITEK focuses on the design and system integration of optical quantity testing systems for integrated circuits. Surrounding the independent development of integrated circuit equipment, the company has already formed four major domains and six categories of quantity testing products, including mask inspection, wafer inspection, generic semiconductor inspection, and wafer measurement. These areas correspond to significant market opportunities in China.

YUWEITEK stated that it will continue to integrate and optimize its own resource advantages, constantly improve its technical strength, product performance, and service capabilities. By helping customers succeed and grow continuously, YUWEITEK is committed to becoming a leading technology provider in the semiconductor equipment industry.

The year 2019 marks the fortieth anniversary of China’s Reform &Opening-Up, once again, we meet at the turning point of history. What’s the next step for the game, is there any clear guidance? The answer is affirmative.

Our country is enjoying a good momentum of development, which does not come from the Washington Consensus nor the Beijing Consensus. China’s experience has proved that both the visible hand and the invisible hand are crucial: the visible hand, stands for the government-led reform, and would yield benefits for reform and opening up; the invisible hand, stands for the Marginal Power represented by the private sector, and would improve economic efficiency and tax collection, create jobs and employment opportunities.

Provided that we want to protect and expand the benefits form reform, three simple but mandatory agreements are to be made and followed: No.1 Private ownership must be recognized, protected and treated equally with public ownership constitutionally, both ownerships are scared and inviolable;No.2 Make further clarification of the principal position of market economy, “deepen economic system reform by centering on the decisive role of the market in allocating resources”, as President Xi addressed in the third Plenary Session of the 18th CPC Central Committee;No.3 Implement the guiding principles of “comprehensively promoting law-based governance” of the fourth plenum. The rule of law is essential for economic growth, irreplaceable to protect private ownership, and necessary to encourage innovation and entrepreneurship.

Above are three rules for us to avoid falling into the Middle-income Trap. Assuming that we are breaking systematic barriers to private enterprises’ participation in market economy, and boosting innovation and entrepreneurship of our society, then we are heading towards a promoting direction. We are marching in the path of light, regardless of the ups and downs of Sino-US relationship, the drop in GDP growth rate, or the monetary policy.

These principals also apply on knowing how better to run a business: don’t be hedged by rules and regulations at the beginning, pay more attention to your survival, and you’ll learn more when you start your second business.

For many years, Huawei has been the only Chinese company on the list of the Top 50 R&D Spenders. Regardless of the economy and its income, what Huawei has been doing is investing in its future, dedicated to R&D, continuously and resolutely. This provisional work underscores Huawei’s accomplishments, making Huawei anindustry leader.

So, there are standard answers on how to run a company,which could be summarized as concentration and professional dedication, continuous investment on innovation and trying harder in R&D. Entrepreneurship is also important, every single company needs entrepreneurs to push aside all obstacles and difficulties, to implement strategies and ideas. We, as investors, are destined to look for such outstanding entrepreneurs and their companies, invest in them and partner with them.

At this key point of history, a country, a company, or asingle individual, will all need to find the right path. Four decades after the Reform and Opening-up, it’s time to learn from our experience and stop “wadding across


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