CDH Investments

CDH Investments is an international alternative asset fund manager based in Hong Kong, China, with over $27 billion in assets under management. Founded in 2002 by the former private equity group of China International Capital Corporation, the firm has developed into a diversified platform that encompasses private equity, venture capital, growth capital, real assets, mezzanine financing, public equities, and wealth management. CDH Investments focuses on investing in various sectors, including consumer goods, hard technology, new energy, and healthcare. The firm is managed by a seasoned team of private equity professionals who have extensive experience in the Chinese market, enabling CDH to consistently deliver superior returns relative to its industry peers.

Paul Chou

Managing Director

Gao Jieliang

Senior Partner

William Hsu

Managing Director

Xiaoling Hu

Managing Director

Jason hu

Managing Director of Mezzanine and Credit

Past deals in Manufacturing

Zhongtiansheng New Materials

Series A in 2025
Zhongtiansheng New Materials is a polyimide monomer and resin production company. It also manufactures resin material composites and liquid crystal orientation agents.

Ultron Photonics

Series C in 2024
Ultron Photonics Inc. is a manufacturer based in Hangzhou, China, specializing in ultra-short-pulse laser systems and their core components. Founded in 2018, the company produces femtosecond lasers, laser oscillators, and associated modules that are vital for various applications. Its products support sectors such as 3C electronics, solar cell manufacturing, micro-fine metal processing, precision surgery, biological imaging, ultrafast spectroscopy, terahertz imaging, and avionics. Ultron Photonics is dedicated to enhancing manufacturing processes by providing reliable and stable ultrafast laser solutions that improve efficiency and productivity.

PRCXI Biotechnology

Seed Round in 2024
PRCXI Biotechnology is a biotech company that provides bioinformatics and automation solutions for life science and the manufacturing of analytical instruments.

Curium Strontium

Venture Round in 2024
Curium Strontium is a CNC machine tool equipment developer that specializes in R&D, production, and sales of CNC machines. It also offers samples such as cover electrodes, shell models, micro-hole precision machining, bowl-shaped turning components, and graphite processing, and is dedicated to supplying industry users with associated gear, equipment, and services.

Yuansuan Technology

Series C in 2024
Yuansuan Technology specializes in enhancing the digital research and development processes for industrial goods, alongside offering digital management and maintenance solutions for facilities and equipment through local simulation software. The company also develops cloud architecture technology that delivers cloud computing services tailored for various enterprise sectors, including automobile transportation, energy, hydraulic emergency response, and machinery manufacturing. Their offerings encompass cloud entry services, comprehensive cloud solutions, and operational maintenance services, all aimed at improving cloud operational efficiency for their clients.

FreBang

Series B in 2023
FreBang is a research and development company specializing in high-end functional nanomaterials. It focuses on the manufacture and sale of a diverse range of products, including nanofiber-based particle purification materials, antibacterial air purification materials, and electrostatic melt-blown fiber filters that offer high efficiency with low resistance. Additionally, the company develops gas pollutant catalytic decomposition materials and flexible ceramic nanofiber insulation materials designed to withstand high temperatures. FreBang's advanced nano-membrane solutions cater to various industries, including semiconductors, biomedicine, panels, aquaculture, lithium batteries, and aerospace applications, such as helicopters and missiles, as well as high-end outdoor clothing.

Jiemeng Intelligence

Venture Round in 2023
Jiemeng Intelligence specializes in the development, design, and manufacturing of equipment for the lithium-ion battery industry, particularly in the coating process. The company is dedicated to providing innovative solutions for front-end equipment and lithium-ion battery machinery. Jiemeng Intelligence aims to deliver safe, efficient, and intelligent new energy equipment solutions to its clients, supporting advancements in energy technology.

Enigma

Series A in 2023
Enigma is an innovative technology company dedicated to providing safe, reliable, and advanced solutions for industrial intelligent manufacturing.

Mucheng Fireproof

Series A in 2023
Mucheng is a high-tech chemical enterprise focuses on special materials such as cutting-edge fire prevention, fire resistance and heat insulation.

Suzhou Keyang Semiconductor

Venture Round in 2023
Suzhou Keyang Semiconductor specializes in the design, research and development, manufacturing, packaging, and testing of semiconductor products, with a particular focus on through-silicon via (TSV) packaging and wafer-level chip-scale packages (WLCSP). The company provides comprehensive and innovative solutions, including bumping services, aimed at advancing the semiconductor industry. By offering a full suite of services from design to testing, Suzhou Keyang Semiconductor supports its clients in developing state-of-the-art integrated circuit products.

Jinjing Keji

Series A in 2022
Jinjing Keji manufactures cathode fluorescence system products. They are mainly in scientific research institutes, semiconductor industry, and electron microscope manufacturing. They provide testing services too in addition to selling the product.

Jiemeng Intelligence

Seed Round in 2022
Jiemeng Intelligence specializes in the development, design, and manufacturing of equipment for the lithium-ion battery industry, particularly in the coating process. The company is dedicated to providing innovative solutions for front-end equipment and lithium-ion battery machinery. Jiemeng Intelligence aims to deliver safe, efficient, and intelligent new energy equipment solutions to its clients, supporting advancements in energy technology.

Cims

Private Equity Round in 2022
CIMS Suzhou Co., Ltd. specializes in providing automated optical inspection solutions aimed at improving production processes and yield within the printed circuit board (PCB) manufacturing industry. Founded in 2005 and located in Suzhou, China, the company offers advanced technologies for various types of PCBs, including High Density Interconnect (HDI), flex, rigid-flex, and integrated circuit substrates. CIMS's solutions leverage sophisticated imaging and image processing technologies, addressing the specific needs of different segments of the PCB market. By enhancing production efficiency and product reliability, CIMS supports customers in adapting to the latest advancements in semiconductors and related technologies.

Qingxin Technology

Series A in 2022
Zhejiang Qingxin is a manufacturer of semiconductor testing and sorting machines. It is involved in the research, development, and manufacture of most semiconductor automation equipment, with a focus on testing and packaging handling solutions.

TSC

Venture Round in 2022
Xinjinghe Laser Technology Development (Beijing) Co., Ltd. is a company that focuses on high-end manufacturing industries such as aerospace, navigation, and nuclear power. It specializes in complicated metal component customisation, product design and optimization, and software customization. Development and sales, technical advice and services, product remanufacturing and repair, 3D printing equipment manufacturing and sales of national high-tech businesses, is China's leading provider of metal additive/subtractive manufacturing technology comprehensive solutions.

Qingyun Zhitong

Series B in 2022
Qingyun Zhitong is an intelligent manufacturing enabling enterprise in the chemical industry. It is a continuous transformation platform for the scientific and technological achievements of the department of chemical engineering and the department of automation of tsinghua university. The company is committed to empowering industrial big data technology, industrial intelligent control technology, 5G technology, and AI technology. It can help chemical industry parks and chemical enterprises to help the construction of new infrastructure and industrial Internet in the chemical industry, and promote the intelligent transformation and upgrading of chemical enterprises and the construction of intelligent factories.

Scientech Medical

Venture Round in 2022
Scientech Medical engages in the research, development, and manufacturing of interventional medical devices.

Qingyun Zhitong

Series A in 2022
Qingyun Zhitong is an intelligent manufacturing enabling enterprise in the chemical industry. It is a continuous transformation platform for the scientific and technological achievements of the department of chemical engineering and the department of automation of tsinghua university. The company is committed to empowering industrial big data technology, industrial intelligent control technology, 5G technology, and AI technology. It can help chemical industry parks and chemical enterprises to help the construction of new infrastructure and industrial Internet in the chemical industry, and promote the intelligent transformation and upgrading of chemical enterprises and the construction of intelligent factories.

Yunli Smart Technology

Series A in 2021
Yunli Wisdom is a digital transformation service provider for government and enterprises. It uses cloud computing, big data, Internet of Things, artificial intelligence, and blockchain as its core technologies. It focuses on government affairs, finance, transportation, manufacturing, ecological environment and other fields, and is committed to providing Application software and services empowered by new technologies.

Qixin Micro Semiconductor

Venture Round in 2021
Suzhou Qixin Micro Semiconductor Co., Ltd. was established in October 2020. Based on the ARM Cortex M4, M7 and other series of architectures, it will build high-performance and high-reliability system-on-chips for different automotive application scenarios, and develop high-end smart car controller chips. Through the use of self-developed IP, unique multi-core lock-step technologies, and the unique Six Sigma analog circuit design process for automotive-standard chips, a full series of product families covering safety standards ISO26262 ASIL-B to ASIL-D have been designed. The company's products all meet the automotive regulations AEC-Q100, functional safety standard ISO26262 and various automotive regulations reliability tests, and can be widely used in the fields of body, automotive instrumentation, safety, power, battery management and other fields. The company is mainly engaged in the research and development and sales of high-end automotive controller chips. The goal is to fill the gap in the domestic new generation of intelligent networked automotive controller chips, and is committed to becoming a leading manufacturer in the field of automotive and industrial controllers in China.

Guizhou Core Long March Technology (Marching Power)

Series C in 2021
Guizhou Core Long March Technology, also known as Marching Power, is a high-tech company focused on the development of power semiconductor devices. Its product portfolio includes IGBT, coolmos, and SiC chip technologies, which are designed to operate under varying temperatures and voltages. The company's technical team comprises experts from the Chinese Academy of Sciences and skilled professionals from abroad, boasting substantial experience in product development. They oversee the entire process from chip design to manufacturing, packaging, testing, and reliability. Additionally, the company has a proficient marketing and operations management team well-versed in the semiconductor industry. Through its commitment to localizing power chip production, Guizhou Core Long March Technology aims to enable various enterprises to integrate high-quality semiconductors into their electronic products effectively.

ForwardX

Series B in 2021
ForwardX Robotics, Inc. is a technology developer specializing in artificial intelligence and mobile robotics, headquartered in Beijing, China, with additional offices in San Diego and Phoenix. Founded in 2016, the company has a team of over 250 employees, including 120 engineers, many of whom have advanced degrees. ForwardX is known for its innovative products, including a side-follow suitcase equipped with GPS and 3G technology, allowing users to track their belongings through a dedicated application named Ovis. The company also offers Autonomous Mobile Robots and a Fleet Manager to address challenges in logistics and manufacturing, such as rising labor costs and operational inefficiencies. With over 200 pending patents and a commitment to cutting-edge technology, ForwardX aims to deliver solutions that enhance productivity and safety in various industries.

JLSemi

Series B in 2020
JLSemi is a company focused on the development of high-speed Ethernet communication chips, specializing in gigabit Ethernet analog and system-on-chip (SoC) semiconductors. The firm excels in high-speed analog, advanced digital signal processing (DSP), and mixed-signal designs, pushing the boundaries of Ethernet technology. By leveraging innovations in silicon architecture and design along with advanced process nodes, JLSemi delivers products that offer industry-leading performance in terms of range, resilience, and power consumption. Its advanced connectivity solutions cater to various industries, positioning the company as a key player in the fast-speed communication market.

CSI Solar

Secondary Market in 2020
CSI Solar is an energy company that manufactures solar photovoltaic modules and provides solar energy solutions. By bundling services for the entire project life cycle—feasibility study, permitting, developing, engineering, procurement, construction, and maintenance, they can significantly reduce complexity and cost for industrial and commercial customers. The company is a subsidiary of Canadian Solar, Inc.

Ruigu

Series C in 2019
Ruigu, founded in 2013, is an e-commerce platform specializing in the Chinese electrical hardware sector. It primarily serves manufacturers of maintenance, repair, and operations (MRO) industrial products, as well as numerous small and medium-sized enterprises involved in the distribution of these products. Ruigu facilitates digital transactions for purchasing, sales, and inventory management, enabling businesses to modernize their operations and enhance efficiency in the MRO industrial market.

ForwardX

Series B in 2019
ForwardX Robotics, Inc. is a technology developer specializing in artificial intelligence and mobile robotics, headquartered in Beijing, China, with additional offices in San Diego and Phoenix. Founded in 2016, the company has a team of over 250 employees, including 120 engineers, many of whom have advanced degrees. ForwardX is known for its innovative products, including a side-follow suitcase equipped with GPS and 3G technology, allowing users to track their belongings through a dedicated application named Ovis. The company also offers Autonomous Mobile Robots and a Fleet Manager to address challenges in logistics and manufacturing, such as rising labor costs and operational inefficiencies. With over 200 pending patents and a commitment to cutting-edge technology, ForwardX aims to deliver solutions that enhance productivity and safety in various industries.

Mushiny Robotics

Series A in 2019
Suzhou Mushiny Intelligence Technology Co., LTD. specializes in designing and developing warehouse management systems (WMS) and intelligent logistics solutions. Its flagship product, the Mushiny Robot Warehouse Management System (MRWMS), integrates hardware and software components, including robots, picking stations, and network equipment, to optimize warehouse operations. Additionally, the company offers the Mushiny Intelligence System (MIS), which addresses traditional manual warehouse processes, and an Order Fulfillment System. Leveraging advanced algorithms, Mushiny provides comprehensive solutions tailored to the warehousing industry, including project design, consultation, systems integration, and implementation. With a team experienced in e-commerce and manufacturing, Mushiny aims to enhance operational efficiency for various industries through its innovative warehousing technologies, particularly in the realm of smart logistics. The company is headquartered in Suzhou, China.

ForwardX

Series A in 2018
ForwardX Robotics, Inc. is a technology developer specializing in artificial intelligence and mobile robotics, headquartered in Beijing, China, with additional offices in San Diego and Phoenix. Founded in 2016, the company has a team of over 250 employees, including 120 engineers, many of whom have advanced degrees. ForwardX is known for its innovative products, including a side-follow suitcase equipped with GPS and 3G technology, allowing users to track their belongings through a dedicated application named Ovis. The company also offers Autonomous Mobile Robots and a Fleet Manager to address challenges in logistics and manufacturing, such as rising labor costs and operational inefficiencies. With over 200 pending patents and a commitment to cutting-edge technology, ForwardX aims to deliver solutions that enhance productivity and safety in various industries.

Microvast

Venture Round in 2017
Founded in 2006, Microvast specializes in designing, developing, and manufacturing lithium-ion battery solutions. Known for its advanced cell technology and vertical integration capabilities, the company offers a range of products catering to diverse market applications.

Chery Automobile

Private Equity Round in 2009
Chery Automobile Co. Ltd, founded in 1997 and headquartered in Wuhu, China, is a prominent manufacturer of automobiles. With a registered capital of RMB 3.98 billion, the company began production in 1999 and has since achieved an annual production capacity of 900,000 vehicles and 450,000 transmissions. Chery emphasizes independent innovation and has developed a comprehensive research and development system, resulting in several well-known vehicle series such as EXEED, ARRIZO, and TIGGO. Its product range includes 13 major series, encompassing passenger cars, commercial vehicles, and mini-cars, with a total of 26 distinct models.

Farun Glass Industry

Private Equity Round in 2008
Farun Glass Industry is a float glass producer operating in four production bases.

Kanghui

Series B in 2008
Changzhou Kanghui Medical Innovation Co., Ltd. is a Chinese company specializing in the manufacture and distribution of orthopedic products, including implants, surgical instruments, and devices for trauma, spine, and joint reconstruction. Established in 1997 and headquartered in Changzhou, Jiangsu Province, the company focuses on research and development to provide advanced and cost-effective solutions for orthopedic patients, enhancing their recuperation and quality of life. Kanghui serves both domestic and international OEM orthopedic companies and has expanded its presence with offices in major cities such as Shanghai, Beijing, Guangzhou, and Xi'an. As a wholly foreign-owned enterprise, Kanghui operates under the investment of China Kanghui Holdings.
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