Qingyun New Materials Secures Over RMB 100 Million in Series B Funding to Advance Flash-Spun Sustainable Material Innovation

On May 18, Jiangsu Qingyun New Materials Co., Ltd. (hereinafter referred to as “Qingyun New Materials™”) announced the completion of its Series B financing round, exceeding RMB 100 million. The round was co-led by CNBM New Materials Fund and Jinpu Investment, with participation from Shaanxi Coal Investment, Yuanhe Houwang, and Taihe Capital. Existing investors Hillhouse Venture Capital and Oriental Yuhong, who led the Series A round, continued to increase their stakes. Taihe Capital served as the exclusive long-term financial advisor. The proceeds will be primarily used to expand production lines, strengthen the supply chain system, and build a top-tier talent team.

Qingyun New Materials™ completed an over RMB 100 million Series A financing round in 2022, with participation from Hillhouse Venture Capital, Oriental Yuhong, and CICC Capital, thereby emerging as a star new materials enterprise backed by top-tier financial funds and industrial clients. This latest round further introduces national-level new materials funds and local state-owned capital. Moving forward, these parties will collaborate to leverage industrial synergies and resource advantages, accelerating Qingyun New Materials™ in realizing the domestic advantage of independent innovation in highly scarce materials.

As China’s leading enterprise in flash-spun ultra-new materials, Qingyun New Materials™ officially commenced operations of its first 3,000-ton production line over the past year—the largest single-line flash-spun ultra-material production facility in China. The company has successfully secured strategic key clients across multiple industries for its Kunlun™ flash-spun ultra-materials, including medical packaging, building energy efficiency, industrial applications, and consumer product innovation. With its product quality receiving widespread acclaim, orders are already booked through 2024.

Flash-spun metamaterials boast superior performance, a wide range of applications, and high commercial value. The technology and its mass production capabilities were long monopolized by a U.S. Fortune 500 company, making these materials scarce and in high demand globally. Flash-spun metamaterials feature strong water resistance, breathability, lightweight properties, high strength, bacterial barrier efficacy, and high cleanliness. They have nearly 100 mature application scenarios across fields such as medical packaging, building energy efficiency, safety protection, industrial packaging, and consumer goods.

To break the monopoly on this technology, Qingyun New Materials™ underwent nearly a decade of arduous independent research and development, achieving multi-faceted independent innovation in technology, processes, and equipment. In 2022, it successfully achieved large-scale mass production of its flash-spun ultra-material, Kunlun™, thereby resolving the critical “chokehold” challenges China faced in this field. As a result, Qingyun New Materials™ was recognized as one of the enterprises that successfully responded to the call under the Ministry of Industry and Information Technology’s “Top Ten Major Industrial Technology Needs for Advanced Manufacturing ‘Open Competition Mechanism’.”

Chen Boyi, Founder and CEO of Qingyun New Materials™“Customer First” is the core value of the Qingyun team, and “becoming the most creative new materials enterprise” is its original aspiration. As a result, the company has attracted many elite talents from renowned domestic and international institutions, including Harvard University, the Max Planck Institute for Experimental Medicine, Tsinghua University, Peking University, and Zhejiang University. Starting with flash-spinning technology and integrating it with more new materials to provide innovative material solutions for a broader range of customers is the long-term goal of Qingyun New Materials™.

Guo Hui, General Manager of CNBM New Materials Fund, the Lead Investor in This RoundIt was stated that Qingyun New Materials™’s flash-spinning material, Kunlun™, is a globally scarce resource, and its domestic substitution holds significant strategic importance. We appreciate Qingyun’s core corporate value of “creating sustainable solutions for a better life for humanity,” and we believe that Qingyun New Materials™ will continue to achieve greater breakthroughs in technological innovation and industrialization, leveraging its technical advantages, industrialization capabilities, and entrepreneurial spirit. The CNBM New Materials Fund is willing to work together with outstanding enterprises such as Qingyun New Materials™ to make positive contributions to accelerating the construction of a “materials powerhouse.”

Tian Huafeng, President and Founding Partner of Gopu Intelligence, the lead investor in this roundDescribed as “waterproof yet breathable, lightweight yet high-strength,” flash-spun metamaterials are a class of specialty fiber materials with exceptional performance, possessing two sets of “contradictory” properties. Due to high technical barriers and significant production challenges, these materials have long relied on imports. Qingyun New Materials™ has successfully broken the foreign monopoly after years of technological R&D and process accumulation, achieving significant progress in industrialization in this field. The product can be widely applied in areas such as safety protection, building energy efficiency, medical packaging, industrial innovation, and creative lifestyle, offering broad and diverse market prospects.

Business Director Li Wenlong stated that Qingyun New Materials™ boasts an outstanding executive team with extensive industry experience, profound R&D expertise, and lean manufacturing capabilities. We are optimistic about the company’s future efforts to further strengthen its core competitive advantages and contribute to green, sustainable development.

Head of Project, Hillhouse VenturesStatement: As a highly complex technical process, flash-spinning metamaterials present exceptionally high technological barriers. Meanwhile, they offer outstanding performance, suit a wide range of application scenarios, and boast broad market prospects. Led by its founder, Chen Boyi, the Qingyun New Materials™ team combines academic and industrial backgrounds, possessing superior technical capabilities and deep-rooted industry experience. We are delighted to see that, having overcome significant technical challenges, the company has rapidly ramped up production capacity to supply the market, with its products receiving widespread acclaim. As an Series A investor in Qingyun, Hillhouse Ventures has increased its investment in this round. We are optimistic that Qingyun New Materials™, as a leading new materials enterprise, will continue to provide high-quality products and create tangible value across various industries.

Zhang Ying, Director and Vice President of Oriental YuhongStatement: As a Series A investor in Qingyun New Materials™, Oriental Yuhong has consistently maintained strong confidence in the company’s growth prospects. It has witnessed the company’s rapid development journey, from pilot-scale trials in the laboratory to large-scale commercial mass production in factories, and the expansion of product sales from a single domain to multiple sectors advancing in tandem. Most gratifyingly, Qingyun New Materials™ has attracted a significant number of outstanding talents from both domestic and international markets, further consolidating its leadership position in China’s “flash-spinning” technology sector and narrowing the gap with leading global enterprises. The successful completion of Qingyun New Materials™’s Series B financing will enable the company to continue expanding production capacity, intensify R&D efforts, and attract more expert-level talent. Upon the conclusion of this funding round, the company is expected to achieve leapfrog growth in sales volume and significantly enhance its standing in the global industry. Throughout Qingyun New Materials™’s rapid development, Oriental Yuhong has spared no effort in providing comprehensive support. In particular, it has deployed an elite team of dozens of professionals to assist Qingyun New Materials™ in product promotion, channel development, and application area expansion, while fully opening its existing customer base to Qingyun New Materials™. Looking ahead, Oriental Yuhong will continue to deepen cooperation in product R&D, supply chain management, and capital investment, providing full support to help Qingyun New Materials™ grow stronger and larger.

Guan Lingzi, Vice President of Taihe CapitalStatement: Qingyun New Materials™ is a new materials company we hold in high regard. This is due, on one hand, to the scarcity of its products and technologies. As a domestic leader in flash-spun ultrafine fiber materials, Qingyun New Materials™ has established robust barriers in technological breakthroughs, large-scale mass production, and commercial progress. On the other hand, this stems from the excellence of its team. Throughout our collaboration, we have been deeply impressed by the Qingyun New Materials™ team’s open vision, unwavering execution capability, and steadfast belief. Taihe Capital firmly believes in and supports Qingyun New Materials™ in becoming the most innovative technology platform for new materials innovation.