Hangzhou Changchuan Technology

Hangzhou Changchuan Technology, also known as CCTech or Changchuan Technology, is a Chinese semiconductor equipment manufacturer headquartered in Hangzhou, Zhejiang. The company develops and sells equipment used to test, measure, inspect, and handle semiconductor devices during manufacturing and assembly. Its activities place it within the semiconductor capital-equipment sector, particularly the testing and back-end portion of the semiconductor value chain. The company was established in 2008 after Zhao Yi left Hangzhou Silan Microelectronics with a team of colleagues. Changchuan acquired most of Silan's equipment-development department during its formation, giving it an initial technical and personnel base in semiconductor equipment. The company's Chinese name, Changchuan, was derived from the birthplaces of Zhao Yi and his wife, Xu Xin: Sichuan for Zhao and Changxing for Xu. Xu was given priority in the naming. During the company's early period, Zhao and Xu worked together with Zhao handling operations and Xu handling financial matters. Changchuan's early business focused on semiconductor test equipment. In 2009, it introduced its first digital-analog hybrid tester. The company subsequently broadened its capabilities across semiconductor testing and measurement. In 2018, it developed what the reference material describes as China's first fully automatic ultra-precision 12-inch wafer probe station, marking an expansion into equipment used to connect and test semiconductor wafers before they are separated into individual dies. The relationship between Changchuan and Silan was initially tense because the two companies were located in the same city and operated in overlapping fields. It later improved after Silan stopped developing testing equipment internally and began purchasing equipment from Changchuan. Silan became one of Changchuan's largest customers and has remained among its top five customers since the company's early years, while Changchuan became one of Silan's largest shareholders. This relationship illustrates Changchuan's role in supplying equipment to domestic semiconductor manufacturers. Changchuan pursued a public listing in October 2015, when it changed its business structure and arranged for an external finance executive to manage financial affairs. On 17 April 2017, it completed an initial public offering and became listed on the Shenzhen Stock Exchange. The China Integrated Circuit Industry Investment Fund was among the investors in the company, linking Changchuan to China's broader effort to strengthen domestic semiconductor capabilities. The company has also expanded through acquisitions. In 2019, it acquired Changxin Investment Management, which held Semiconductor Technologies & Instruments, a Singaporean automated optical inspection equipment manufacturer spun out of Texas Instruments. In 2023, Changchuan acquired Changyi Technology, which held Exis Tech, a Malaysian company focused on back-end semiconductor test handlers. These transactions extended Changchuan's product and geographic reach beyond its original testing-equipment business. Changchuan's reported partners and customers include Silan, Tongfu Microelectronics, China Resources Microelectronics, and ASE Group. Its business scope now covers semiconductor testers, wafer-probing equipment, automated optical inspection, and semiconductor test handlers. The company is positioned as a domestic Chinese supplier of semiconductor production and testing equipment, with expansion supported by internal product development, strategic investment, and acquisitions. Detailed current financial, executive, website, and product-line information is not established in the supplied reference material.

Hangzhou Changchuan Technology was founded in 2008 by Zhao Yi and Xu Xin after Zhao left Hangzhou Silan Microelectronics with a team. The new company acquired most of Silan's equipment-development department, creating an initial foundation for semiconductor-equipment research and manufacturing. The company name was formed from the founders' birthplaces, Sichuan and Changxing, with Changxing taking priority. In its early years, Zhao managed operations while Xu handled finance. Changchuan's first reported product milestone came in 2009, when it launched a digital-analog hybrid semiconductor tester. The company developed within Hangzhou's semiconductor cluster and operated in an area that overlapped with Silan's activities. Relations between the companies were initially strained, but later improved after Silan abandoned its own testing-equipment development and began buying equipment from Changchuan. Silan became one of Changchuan's leading customers, while Changchuan became one of Silan's largest shareholders. Changchuan began preparing for public-market access in October 2015. It changed its business structure and arranged for an outside hire to take responsibility for finance. On 17 April 2017, the company completed its initial public offering and became listed on the Shenzhen Stock Exchange. The China Integrated Circuit Industry Investment Fund participated as an investor. The listing provided a public-company platform during a period of increasing interest in developing China's domestic semiconductor-equipment capabilities. The company expanded its technology portfolio beyond its original tester business. In 2018, it developed a fully automatic ultra-precision 12-inch wafer probe station, described in the reference material as China's first product of that type. Wafer probe stations are used to establish electrical contact with semiconductor wafers for testing before the wafers are cut into individual chips. Changchuan also used acquisitions to extend its capabilities. In 2019, it acquired Changxin Investment Management, whose holdings included Semiconductor Technologies & Instruments, a Singaporean automated optical inspection company spun out of Texas Instruments. In 2023, it acquired Changyi Technology, whose holdings included Exis Tech, a Malaysian company specializing in back-end semiconductor test handlers. These transactions added inspection and assembly/test-handling capabilities and gave Changchuan a broader international operating footprint. The company has been associated with semiconductor companies including Silan, Tongfu Microelectronics, China Resources Microelectronics, and ASE Group. Its business therefore spans several stages of semiconductor testing and manufacturing support, from wafer probing and electrical testing to optical inspection and back-end handling. The supplied references do not establish a complete current management roster, detailed financial history, official product catalogue, or current corporate website.

• 2023

  Malaysian test-handler acquisition

  [1]Hangzhou Changchuan Technologyen.wikipedia.org

  Changchuan acquired Changyi Technology, which held Exis Tech, a Malaysian back-end semiconductor test-handler business.

• 2019

  Singapore inspection-equipment acquisition

  [1]Hangzhou Changchuan Technologyen.wikipedia.org

  Changchuan acquired Changxin Investment Management, which held Semiconductor Technologies & Instruments.

• 2018

  12-inch wafer probe station developed

  [1]Hangzhou Changchuan Technologyen.wikipedia.org

  The company developed a fully automatic ultra-precision 12-inch wafer probe station, described as China's first such product in the supplied reference.

• 2017

  Initial public offering

  [1]Hangzhou Changchuan Technologyen.wikipedia.org

  Changchuan became a listed company on the Shenzhen Stock Exchange on 17 April.

• 2015

  Public-listing restructuring

  [1]Hangzhou Changchuan Technologyen.wikipedia.org

  The company changed its business structure while preparing to pursue a public listing and brought in an external finance manager.

• 2009

  First digital-analog hybrid tester launched

  [1]Hangzhou Changchuan Technologyen.wikipedia.org

  Changchuan introduced its first reported digital-analog hybrid semiconductor tester.

• 2008

  Company founded

  [1]Hangzhou Changchuan Technologyen.wikipedia.org

  Zhao Yi and Xu Xin founded Changchuan Technology after Zhao left Silan with a team and the new company acquired most of Silan's equipment-development department.

A Chinese semiconductor capital-equipment supplier focused on testing, measurement, wafer probing, optical inspection, and back-end device handling.

• Semiconductor testing equipment · 2009

  Digital-analog hybrid testers

  Changchuan's early product portfolio included digital-analog hybrid testers, which combine digital and analog test functions for semiconductor devices. The company launched its first reported product in this category in 2009. The supplied sources do not provide model names, detailed specifications, or current availability.

• Wafer testing equipment · 2018

  12-inch wafer probe stations

  Wafer probe stations establish electrical contact with semiconductor wafers so that devices can be tested before wafer dicing. In 2018, Changchuan developed a fully automatic ultra-precision 12-inch version, representing an expansion from device testers into wafer-level test infrastructure.

• Semiconductor inspection equipment

  Automated optical inspection equipment

  Changchuan entered or expanded in automated optical inspection through its 2019 acquisition of Changxin Investment Management, which held Singaporean company Semiconductor Technologies & Instruments. The business was spun out from Texas Instruments. Specific inspection systems and model-level details are not identified in the supplied material.

• Back-end semiconductor equipment · 2023

  Semiconductor test handlers

  Back-end semiconductor test handlers move and position packaged devices during testing. Changchuan expanded into this area through its 2023 acquisition of Changyi Technology, which held Malaysian company Exis Tech. The supplied sources do not identify individual handler models.

• 2024

  Changchuan Technology warned by Zhejiang regulator over early revenue recognition and irregular fundraising management

  In December 2024, the Zhejiang Securities Regulatory Bureau issued warning letters ([2024] No. 279) to Changchuan Technology and Zhao Yi, Sun Feng, Tang Yongjuan and Shao Jingyang, involving early recognition of revenue, irregular management of raised funds and deficiencies in sales internal controls; later, investors sought compensation from the Hangzhou Intermediate People's Court for false statements. Warning letters; investor claims.

  Source

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• 2023

  Acquire Changyi TechnologyM&A

  Background

  Changchuan continued expanding into semiconductor back-end equipment and test handling.

  Action taken

  It acquired Changyi Technology, which held Exis Tech, a Malaysian company focused on back-end semiconductor test handlers.

  Aftermath

  The transaction extended Changchuan's product coverage into test handlers and strengthened its presence in Malaysia.

  Source

• 2019

  Acquire Changxin Investment ManagementM&A

  Background

  Changchuan sought to broaden its semiconductor-equipment capabilities beyond core testing products.

  Action taken

  It acquired Changxin Investment Management, which held Semiconductor Technologies & Instruments, a Singaporean automated optical inspection company.

  Aftermath

  The transaction added automated optical inspection capabilities and an international operating presence.

  Source

1. 1Hangzhou Changchuan Technologyen.wikipedia.org
2. 2Changchuan Technology warned by Zhejiang regulator over early revenue recognition and irregular fundraising managementcsrc.gov.cn
3. 3Changchuan Technology warned by Zhejiang regulator over early revenue recognition and irregular fundraising managementfinance.china.com.cn