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According to Sanfu New Materials, Mingyi Electronics under Sanfu New Materials has launched a new product series—high-aspect-ratio gantry line electroplating equipment, capable of supporting the production of boards with aspect ratios of 40:1 and above. This series of equipment can be customized according to client needs, is compatible with phosphorized copper balls and insoluble anode systems, and can meet the electroplating requirements for high-end circuit boards such as high-aspect-ratio AI server PCB boards and IC substrates. The equipment has passed various technical tests and has gained recognition from leading server PCB manufacturing clients in China. Multiple equipment orders are already in hand, and the production lines for this series of equipment have entered the production and delivery stage.

Li Auto (02015.HK) announced that its chip subsidiary Shanghai Mahexin Technology Co., Ltd. has signed a first-round equity financing agreement, raising 1.625 billion yuan. This round was led by Hangzhou Jingtao, BlueRun Ventures, and Huaye Tiancheng, with MiraclePlus participating as an investor. In addition, Hangzhou Jingtao and its affiliated funds have been granted an additional subscription right of up to 500 million yuan. If this subscription right is fully exercised, the post-investment valuation will reach 17.1 billion yuan. This financing will support Mahexin Technology in advancing its chip R&D and commercialization, seizing broader industry opportunities, especially in non-automotive sectors, and driving Li Auto's long-term development in chips and domain controllers.