HQ Electronics Raises ￥310 Million CNY in Series C Financing

Huaqiu Electronics (overseas brand NextPCB), a leading player in electronic supply chain services, today announced a ￥310 million CNY in a series C round of equity financing.

The new round, following previous successful fundraising efforts, was led by Pengrui Investment and Qifu Capital. Yunmu Capital, continuing as the company's long-term exclusive financial advisor, also contributed.

Embracing Digitization with Smart Factories

Recently, the global economic slowdown has made fresh funding harder to secure. However, Huaqiu's ability to obtain this significant investment against the trend highlights its strong industry competitiveness and innovative edge.

The newly acquired funds will primarily go towards enhancing the company's digital systems for industry chain management, expanding intelligent manufacturing facilities, and boosting production capacity.

The industry's digital transformation is a massive undertaking. Progress has been steady, driven by both market demand and the need to enhance production efficiency and service quality.

Expansion and Innovation

Currently, Huaqiu Electronics' service network spans 166 countries and regions worldwide, providing comprehensive electronic supply chain services to over 300,000 enterprise users. Their client base includes various sectors such as industrial control, smart hardware, automotive electronics, communication equipment, consumer electronics, medical electronics, new energy, and research institutes.

Huaqiu is well-acquainted with the industry's challenges, having witnessed the rapid changes in the electronics manufacturing landscape over the years.

Huaqiu Electronics — which has already established five digitalized production bases across China — expanded its footprint this year by initiating the construction of its "South China Smart Manufacturing Base" in Jiangmen City, Guangdong Province. This new facility is set to commence operations in early 2025, further boosting the company's production capacity and technological capabilities.

Global Expansion and Future Plans

Huaqiu aims to further expand its global service network. The company recognizes significant potential in emerging markets, noting the increasing worldwide demand for electronic products.

Regarding future plans, Huaqiu Electronics reaffirmed its commitment to driving industry innovation. The company emphasized its long-term dedication to continuously improving its capabilities and service offerings.