Jiangsu Changjing Technology Co., Ltd. (JSCJ) Company Introduction

In depth analysis of Jiangsu Changjing Technology Co., Ltd. (JSCJ)
1、 Company Overview
Background and Equity Structure of Establishment
Jiangsu Changjing Technology Co., Ltd. (referred to as "Changjing Technology", stock code: JSCJ) was established in November 2018, with its headquarters located in the Jiangbei New Area Research and Innovation Park in Nanjing, Jiangsu. Its predecessor was the discrete device department of Jiangsu Changdian Technology Co., Ltd. Later, through the acquisition of companies such as Hyde Semiconductor (October 2020) and Xinshun Microelectronics (March 2022), it integrated wafer manufacturing and packaging testing, gradually transforming from Fabless mode to IDM (Vertical Integrated Manufacturing) comprehensive semiconductor enterprise. The registered capital of the company is approximately 9.265 billion yuan, and the actual controller is Yang Guojiang. It has multiple subsidiaries and offices covering core cities such as Shenzhen, Shanghai, Beijing, and Hong Kong.
Enterprise Qualifications and Honors
For consecutive years, it has been awarded the title of "Top Ten Chinese Semiconductor Power Device Enterprises".
Awarded certifications such as High tech Enterprise, Gazelle Enterprise (2024), and Provincial Enterprise Technology Center (2024).
Selected for the "2022 Top 100 High tech Enterprises in Nanjing" list.
2、 Core business and product line
1. Discrete components
Diode/transistor: covering over 5000 products such as switch diodes, Schottky diodes, TVS diodes, fast recovery diodes, etc., with technical advantages including:
Low VF: The forward voltage is 25% lower than similar products.
High junction temperature: The maximum tolerable temperature is 175 ℃.
High voltage and low VF: The maximum withstand voltage is 300V, and the VF value is equivalent to that of ordinary 150V products.
MOSFET/IGBT: available in 2N7002, 2N7002K and other models, packaged in SOT-23, suitable for portable devices and power conversion circuits; IGBT modules (such as HybridPACK) ™ The series is designed for automotive and industrial applications.
2. Power management IC
LDO (Low Dropout Linear Regulator):
CJ6214 series: Anti overshoot, ultra-high PSRR（ 90dB@1kHz ）Low noise, suitable for tablets and laptops.
CJ6216 series: 4.5 μ VRMS low output noise 98dB@1kHz  PSRR， Used for smartphones and smart monitoring.
CJ6111 series: 0.8 μ A ultra-low static power consumption, suitable for wearable devices and electronic cigarettes.
DC-DC converters and lithium battery protection chips: covering consumer electronics and industrial control scenarios.
3. Wafer and packaging testing
Through the subsidiaries Xinshun Microelectronics (5-inch/6-inch wafer manufacturing) and Changjing Pulian (packaging and testing), vertical integration of the industrial chain has been achieved. Both the wafer fab and packaging and testing plant have passed the IATF 16949 automotive quality management system certification.
3、 Technological advantages and innovation
1. Core technology layout
Diode technology: using a planar/torch structure to reduce power consumption and adapt to various packaging requirements; TVS diodes have the characteristics of low clamping and strong surge resistance.
Power management IC: CJ6214 series supports 1.8V~6V input and 500mA output current; The CJ6108 series achieves an ultra-low output voltage of 0.6V.
Automotive Electronics: Multiple diode products meet AEC-Q standards, and the automotive grade team focuses on research and verification.
2. Research and development and patents
R&D investment accounts for over 5%, with over 200 patents covering areas such as discrete devices and power management ICs.
Participate in the formulation of national standards such as "Semiconductor Device Discretes".
4、 Market and Application
1. Target market
Consumer electronics: mobile phones, computers, wearable devices (accounting for 40% of revenue).
Industrial control: motor drive, power module (accounting for 30% of revenue).
Automotive electronics: car chargers, BMS systems (accounting for 20% of revenue, with a growth rate of over 50%).
Communication equipment: 5G base stations, routers (accounting for 10% of revenue).
2. Customers and Channels
Direct supply customers: Huawei, Xiaomi, BYD, CATL, etc.
Agent Network: Over 20 offices have been established nationwide, covering the East and South China markets through agents such as Nanjing Nanshan.
5、 Development Strategy and Challenges
1. Strategic planning
Domestic substitution: Focusing on power semiconductors and power management ICs, promoting independent and controllable core components.
Industrial chain extension: We plan to invest 5 billion yuan to build an 8-inch wafer fab, further reducing our dependence on Changdian Technology for packaging and testing.
Automotive Electronics: Target to achieve a revenue share of over 30% for automotive grade products by 2026.
2. Faced with challenges
Gross profit margin pressure: The comprehensive gross profit margin is about 25%, which is lower than the industry average of 30%, and the product structure needs to be optimized.
Supply chain risk: 95% of the packaging and testing services rely on Changdian Technology, and it is necessary to accelerate the release of its own packaging and testing capacity.
High end market breakthrough: IGBT modules have a market share of less than 5% in the automotive main drive field, and technical certification needs to be improved.
6、 Industry Status and Future Prospects
Changjing Technology has become an important participant in the domestic power semiconductor field with its dual wheel drive of "research and development+supply chain". With the production of 8-inch wafer fabs and the increasing volume of automotive grade products, the company is expected to achieve a revenue of over 5 billion yuan by 2026, ranking among the top 20 global discrete device manufacturers. Its low dropout linear regulator (LDO) and other products have entered the international first-line customer supply chain, and will further expand into high-end application scenarios such as data centers and new energy in the future.