Wanlian Securities’ Investment Leads to CanSemi Technology Listing on ChiNext
CanSemi Technology Inc. secured an official listing on the ChiNext Market of the Shenzhen Stock Exchange in October 2026, marking the culmination of nearly a decade of patient-capital investment by Wanlian Securities, markets.businessinsider.com reported.
That milestone makes CanSemi the first company listed under the third set of listing criteria introduced for the ChiNext Market, the first wafer fabrication company listed under those criteria, and the first 12-inch wafer manufacturer in South China to achieve mass production, according to markets.businessinsider.com.
According to markets.businessinsider.com, the Yuxin Fund was originally spearheaded in 2017 by Wanlian Tianze Capital Investment Co., Ltd., an affiliate of Wanlian Securities. That fund became CanSemi's largest shareholder and helped bring the company to Guangzhou.
From its establishment in 2017 to its October 2026 listing, long-term capital helped Guangdong achieve a breakthrough in advanced wafer manufacturing, taking the industry from zero to one, markets.businessinsider.com reported. A silicon photonics production line is currently being developed by the company following the launch of its Phase IV project in January 2026, which involved a total investment of RMB 25.2 billion.
Wanlian Securities invested RMB 5.3 billion in 158 equity projects
As the only municipal state-owned securities firm in Guangzhou, Wanlian Securities and its subsidiaries, Wanlian Tianze and Wanlian Guangsheng, invested in 158 equity projects by the end of June this year, with aggregate investments exceeding RMB 5.3 billion. Those investments included four global unicorns, 11 listed companies, and 42 national-level SRDI Little Giant enterprises, with 88 of the projects based in Guangzhou.
Wanlian Securities has supported ASENSING, a company specializing in positioning and attitude sensing technologies, for six years, markets.businessinsider.com reported. That company submitted its listing application to the Hong Kong Stock Exchange in January 2026.
Wanlian Securities also made successive investments in Yunzhou Biosciences in 2022, 2025, and 2026, helping the gene delivery company grow into Guangzhou’s first global biotechnology unicorn, markets.businessinsider.com reported. Its proprietary MiniVec plasmid system has already been granted a European patent.
Future market environment
In the first half of 2026 alone, Wanlian Securities invested in 21 additional technology and innovation projects, with new investments totaling RMB 377 million, markets.businessinsider.com reported. The firm has built a fund portfolio comprising three funds, each at the RMB 10 billion level.
markets.businessinsider.com reported that Guangzhou has seen an accelerated influx of upstream and downstream enterprises spanning chip design, semiconductor equipment, and materials in the wake of CanSemi’s market debut.
Wanlian Securities contends that as the core institutions supporting China’s capital markets keep advancing and the share of long-term capital grows, a better-regulated, transparent, open, dynamic, and resilient capital market will supply hard-technology firms with steadier financing conditions and more foreseeable avenues for exit.