October Financing Review: Six Companies Secure Over-100-Million-Yuan Funding Rounds

On October 26, Shanghai Shangyang Software Co., Ltd. announced the successful closing of a new round of Series C financing amounting to several hundred million RMB. This Series C2 round was led by the China Integrated Circuit Industry Investment Fund Phase II (the 'Big Fund Phase II'), with co-investment from SMIC Capital, Pudong Science & Technology Investment, and Pudong Science & Technology Innovation. Existing shareholders Xinwei Capital participated in a follow-on investment, while China Merchants Venture Capital and Stone Creek Capital maintained their stakes. Shangyang Software is the first company invested in by the Big Fund specifically for semiconductor MES/CIM industrial software. In May this year, Shangyang Software had already completed its Series C1 financing, securing investments from Huawei’s Harbo Capital, Xingcheng Capital, and Hongtu Shanli. Harbo served as a strategic investor. Previously, in 2017, Shangyang Software received its Series A financing from China Merchants Venture Capital, marking its entry into the high-end semiconductor market; in 2019, it secured Series B financing from Beijing Yitang Huachuang and Shanghai IoT, enabling R&D of MES solutions for both 8-inch and 12-inch wafers. Founded in March 2001, Shangyang Software is among China’s earliest providers of MES (Manufacturing Execution System) and CIM (Computer Integrated Manufacturing) software products and solutions tailored for high-tech manufacturing sectors—including semiconductors, photovoltaics, and LEDs. It now offers comprehensive MES solutions covering 4-, 5-, 6-, 8-, and 12-inch semiconductor fabs. In addition to its flagship myCIM (MES) platform, the company also provides subsystems including EAP, RMS, APC, FDC, RCM, and MDM. 07 Shangjian Intelligence Completes Angel Round of Tens of Millions of RMB On October 25, Shangjian Intelligence—a provider of AI-powered production management platforms—announced completion of an angel round raising tens of millions of RMB, exclusively funded by Linear Capital. Proceeds will be used to intensify R&D efforts, further productize its solution offerings, and accelerate team expansion. Shangjian Intelligence delivers data-driven, AI- and operations-research-based industrial intelligent decision-making solutions to manufacturing enterprises, helping smart manufacturers streamline management processes, enhance decision-making efficiency, and reduce production costs. Its self-developed 'Smart Planning & Scheduling System' (SPS) leverages deep learning optimization and GPU parallel computing, continuously strengthening its decision-making capabilities to significantly improve all scheduling metrics—achieving minute-level scheduling. Its data-driven multi-objective optimization module simultaneously balances efficiency, on-time delivery, and cost targets, enabling customizable priority settings for KPIs. Its interactive KPI dashboard supports parameter reloading, production time segmentation, KPI comparison, capacity monitoring, and automatic report generation. 08 Kalunte Announces Close of Nearly 100-Million-Yuan Series A Round On October 25, Xiamen Kalunte Technology Co., Ltd. ('Kalunte'), an online collaborative CAD platform, announced completion of a nearly 100-million-yuan Series A financing round, led by Hillhouse Ventures with co-investment from GGV Capital. Funds will support further refinement and intelligent development of its CAD products. Founded in 2014, Kalunte’s founding team comprises senior former Autodesk engineers and internationally renowned collaborative design experts and professors. The company independently developed a cloud-native CAD intelligent design software geometry engine.

[Small Business Spotlight] Allient: Industry Upturn Expected to Boost Performance

02 • Their products are typically low-cost relative to the end products they are sold into; • Their products carry extremely high failure costs (if they malfunction, the end product will not function as intended); • Product designs are highly customized, resulting in very long sales cycles—which fosters stickier customer relationships; • Once a product is 'designed in' to a given customer’s product, switching costs become extremely high; • Effectively, the motion/control business generates recurring revenue streams over the full lifecycle of the customer’s product (typically several years or more). The company previously supplied only motion products (e.g., small-component brushless motors). Due to acquisitions and organic growth driving expansion across end markets, the company now supplies control and power devices alongside its motion products. Management positions the company as a 'complete solutions provider.' AMETEK and Parker Hannifin have adopted identical strategies. Offering integrated solutions strengthens the company because: (1) it enables the enterprise to design applications that customers previously had to source from numerous suppliers (a cumbersome process); (2) acting as a 'single-source' supplier makes customer relationships stickier; (3) the broader the product portfolio, the higher the switching costs; and (4) due to the higher degree of customization inherent in integrated solutions, gross margins are higher. Specifically regarding point (4), the high level of customization associated with Allient’s products significantly differentiates the company from competitors (relationships take years to cultivate, and price is hardly the primary consideration). Owing to these factors, Allient has delivered attractive returns on tangible capital—for over a decade consistently exceeding 20%. Q3 Results 03 • Q3 2024 revenue: $125.2 million; gross margin: 31.4%; net income: $2.1 million. • Sequentially improved margins: gross margin up 150 bps to 31.4%, operating margin up 170 bps to 5.3%, and adjusted EBITDA margin up 130 bps to 11.5%. • Strong cash flow: $29.5 million generated from operations year-to-date; cash balance at quarter-end: $37.1 million. • Further implementation of the 'Simplify to Accelerate NOW' initiative increased annual total cost reduction target to $10 million. • Total capital expenditures for the first nine months of 2024 amounted to $6.9 million, primarily supporting new customer projects. The company continues optimizing its capital allocation priorities, focusing on higher-return initiatives. Accordingly, it has lowered its expected 2024 capex guidance to $8–11 million, down from the prior range of $11–13 million. • Cash from operating activities for the first three quarters totaled $29.5 million, up 9% year-on-year. Growth Outlook 04 Allient’s growth prospects may benefit positively from an upturn in the robotics industry. As global demand for automation and smart manufacturing continues rising, robotics applications are expanding rapidly—creating new growth opportunities for the motion, control, and power systems industry.

Cullen Capital Management LLC Takes $1.01 Million Position in Avient Corporation $AVNT

Aug 25, 2026

Cullen Capital Management acquired a $1.01 million stake in Avient Corp, which recently exceeded earnings expectations with $917M revenue and declared a $0.275 quarterly dividend.

MarketBeat

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Arrowstreet Capital Limited Partnership Purchases New Holdings in Avient Corporation ($AVNT)

2026-08-12

Assenagon Asset Management S.A. Takes Position in Avient Corporation

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Great Lakes Advisors LLC Acquires Shares of Avient Corporation ($AVNT)

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Cullen Capital Management LLC Takes $1.01 Million Position in Avient Corporation $AVNT

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Palisade Capital Management LP Makes New $15.42 Million Investment in Avient Corporation $AVNT