Hubei Dinglong Co in WEDZ. [Photo/WeChat account: whkfq]
Hubei Dinglong Co in Wuhan Economic & Technological Development Zone (WEDZ) surpassed a market value of 100 billion yuan ($14.73 billion) on June 30.
Dinglong, founded in 2000, started as a small manufacturer of printing consumables, with key materials such as charge control agents largely imported at the time. However, just a year later, the company broke into the international market, disrupting a two-decade global monopoly held by Japanese firms.
Dinglong went public on the ChiNext board in 2010 and, two years later, entered the semiconductor materials sector, focusing on CMP polishing pads, a critical consumable in chip manufacturing.
Dinglong's CMP polishing pads currently command a 70–80 percent share of the Chinese market, supplying 90 percent of local wafer fabs. Monthly sales skyrocketed from approximately 10,000 units in 2022 to 40,000 by the end of 2025, with production capacity expected to reach 50,000 units per month by the end of the first quarter of this year.
Dinglong has developed a strong product matrix across five key areas: CMP materials, high-end wafer photoresists, new semiconductor display materials, advanced packaging materials, and functional auxiliary materials for new energy. Its CMP polishing pads, slurries, and cleaning solutions have achieved stable, large-scale supply.
The company's success is inseparable from its over 20-year presence in WEDZ. "This is not just an industrial hub but our development haven," said Zhu Shuangquan, chairman of Dinglong. The zone's supportive policies have empowered Dinglong's innovative projects, facilitating rapid progress in the semiconductor materials industry.
Dinglong and its subsidiaries applied for subsidies in 2023, including those for technological upgrades and recognition as a national manufacturing champion, boosting the company's research and innovation capabilities.
WEDZ has implemented a new funding policy, transitioning from post-project subsidies to pre-project grants, thereby reducing innovation costs for enterprises. The zone has nurtured 12 listed companies and organizes events such as financing exchanges and tech innovation exchanges, serving over 600 enterprises.
