Co-Stone Capital

Co-Stone Capital is a prominent private equity firm based in Shenzhen, China, established over 16 years ago. As one of the earliest private equity institutions in the country, it specializes in growth stage and pre-IPO investments within the domestic market. The firm focuses on key industries such as technology, healthcare, consumer products, and advanced manufacturing, leveraging its deep understanding of the Chinese economy and specific growth patterns of companies. Co-Stone Capital has invested in over 100 companies, predominantly as lead investors, and has successfully exited 40 through initial public offerings, mergers, or reverse mergers. With assets under management exceeding 40 billion RMB, the firm employs various investment strategies including private equity, venture capital, and mergers and acquisitions. It boasts a diverse capital base that includes large insurance groups, government-guided funds, and high-net-worth individuals. Co-Stone Capital has received multiple accolades from industry publications, consistently ranking among the top investment firms in China. In addition to its headquarters in Shenzhen, it maintains offices in Beijing, Shanghai, and Hefei.

Tao Tao

Partner

Wang Qiwen

CEO

Past deals in Electronics

VIRE Technologies

Venture Round in 2025
VIRE Technologies specializes in simulation research and development, offering engineering, software, and hardware solutions tailored to customer needs. The company provides system-level and customized simulation services primarily in the fields of electronics, aviation, and training. Its offerings support a diverse range of industries, including military, aerospace, weaponry, shipbuilding, nuclear, communication equipment manufacturing, and industrial manufacturing. By enabling enterprises to digitally simulate exercises and specific scenarios, VIRE Technologies enhances operational training and decision-making processes across various sectors.

Aixin Semiconductor Technology

Series B in 2024
Aixin Semiconductor Technology specializes in the research and development, manufacturing, and sales of semiconductor front-end measurement and testing equipment. It has a production plant of more than 1,000 square meters in Shenzhen, including a thousand-level assembly and commissioning clean room, and a hundred-level, and ten-level laboratory clean room.

Yuweitek

Series B in 2023
Yuweitek is a company that specializes in the research and development of advanced technologies for automotive safety and connectivity. It focuses on the integration of software and hardware applications related to Beidou satellite positioning, car communication, driving record systems, intelligent video algorithms, and network connection technologies. The company has developed a range of products, including new energy vehicle terminals, satellite positioning vehicle wireless terminals, multimedia car driving recorders, and high-definition cameras, organized into nine product series. In addition to its product offerings, Yuweitek provides various industry platform management software systems to enhance its clients' operational efficiency and safety in car networking and remote monitoring.

DJEL

Venture Round in 2022
DJEL is a semiconductor equipment and software company that specializes in integrated circuit yield management. The company develops and manufactures advanced semiconductors and inspection machines designed to enhance the efficiency of chip design, manufacturing, and testing processes. By offering real-time optimized systems and technical solutions, DJEL aims to improve yields for chip manufacturers in the semiconductor industry.

Yaoxin Technology

Series C in 2022
Yaoxin Technology is a MEMS sensor chip provider specializing in power devices, smart sensors, and signal chain ICs.

Jinsheng New Energy

Series B in 2022
Jinsheng New Energy is a company dedicated to lithium battery recycling and comprehensive utilization solutions, emphasizing sustainability and innovation. It specializes in extracting valuable materials such as nickel sulfate, cobalt sulfate, and lithium carbonate from retired lithium batteries. By focusing on creating a closed-loop industry, Jinsheng New Energy aims to reduce environmental pollution associated with decommissioned batteries. The company offers a wide range of products and services, enabling large enterprises to enhance the economic value of these materials through effective recycling and utilization processes.

Maxone Semi

Series B in 2022
Maxone Semiconductor (Suzhou) Co., Ltd. is a Chinese company focused on the research, development, design, and manufacturing of integrated circuits and semiconductor test solutions. Established in 2015 in Suzhou, the company specializes in producing IC wafer test probe cards, including cantilever probes, vertical probe cards, and 3D MEMS probes. These products are designed for the electrical testing of large-scale integrated circuits (LSI) during the wafer test process, supporting various applications such as RF front-end chips and multimedia system-on-chip (SoC) devices. Maxone Semi aims to enhance the efficiency of semiconductor testing while contributing to the growth of domestic chip technology in the integrated circuit industry.

Shenzhen Shifeng

Series A in 2022
Shenzhen Shifeng offers industrial software, digital twin systems, and a simulation cloud service platform. The company serves marine engineering, aerospace, energy, electronic appliances, car traffic, and engineering manufacturing.

Efort

Private Equity Round in 2018
Efort is a listed company in science and technology. The company provides robot products and cross-industry intelligent manufacturing solutions that have empowered industries such as automobiles and parts, 3C electronics, home appliances, rail transit, aerospace, engineering machinery, photovoltaics, casting, sanitary ceramics, furniture, and wood.

Gooosun

Series A in 2018
Gooosun is a manufacturer specializing in electronic control and power systems for new energy vehicles. Founded in 2015 and based in Shenzhen, China, the company produces a range of products including main motor drive controllers, integrated motor controllers, and vehicle DC-DC converters. It also offers auxiliary components such as air compressors, oil pumps, and on-board charger modules for various vehicle types, including commercial and logistics vehicles, passenger cars, and mini cars. Gooosun emphasizes research and development in automotive power conversion and motor control modules, aiming to enhance power efficiency and reduce costs for its clients.

Efort

Series D in 2017
Efort is a listed company in science and technology. The company provides robot products and cross-industry intelligent manufacturing solutions that have empowered industries such as automobiles and parts, 3C electronics, home appliances, rail transit, aerospace, engineering machinery, photovoltaics, casting, sanitary ceramics, furniture, and wood.

Yuanrong Zhineng

Series A in 2015
Yuanrong Zhineng provides manufacturing solutions and implementation for discrete manufacturing enterprises in aviation, military industry, automobiles, rail transit, heavy industry machinery, 3C electronics, high-end home appliances, boutique toys, bathroom furniture, medicine, and other fields.

Royole

Series C in 2015
Royole Corporation is a global leader in the development and manufacturing of advanced flexible displays, flexible sensors, and innovative smart devices. The company specializes in foldable smartphones and tablets, smart writing pads, wearables, and mobile theaters, offering products such as the FlexPai smartphone, RoWrite smart writing pad, and Moon mobile theater. Headquartered in Fremont, California, with an additional office in Shenzhen, China, Royole provides tailored solutions across various industries, including consumer electronics, automotive, computing, and telecommunications. Its display technology ranges from small panels for handheld devices to large high-resolution screens. The company also engages in consulting services and has established a strategic partnership with JD.COM to enhance its market reach through online sales. Founded in 2012, Royole continues to push the boundaries of flexible electronics to meet the evolving needs of consumers and businesses alike.

OPPLE Lighting Company

Venture Round in 2012
OPPLE Lighting Company, established in Shanghai, China in 1996, is a prominent global lighting manufacturer. Initially focusing on compact fluorescent lamps (CFLs) and ceiling fixtures, the company has since diversified its product portfolio to encompass a wide range of electrical appliances and large-scale commercial lighting solutions. With over 30,000 sales outlets, OPPLE is the largest home lighting company in the Chinese market and has expanded its reach to more than 50 countries worldwide. The company's commitment to research and development has enabled it to lead the industry's transition to affordable LED technology. OPPLE employs over 6,000 people globally.
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