Zhejiang Jingsheng Mechanical & Electrical
Chinese manufacturer of crystal-growth, semiconductor-materials, and photovoltaic-production equipment.
Last updated October 30, 2026
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Overview
Zhejiang Jingsheng Mechanical & Electrical Co., Ltd., commonly known as Jingsheng Mechanical & Electrical or JSG, is a Chinese publicly listed manufacturer serving the semiconductor and photovoltaic industries. Its business is centered on equipment and process capabilities used to produce crystal materials, particularly monocrystalline silicon and silicon carbide. The company’s portfolio includes crystal-growth equipment, silicon-rod processing machinery, semiconductor-related equipment, and production-line solutions intended to support the manufacture of wafers, ingots, and other crystal materials. The company emerged from a technology-development project organized in Zhejiang in 2006. The project brought together electromechanical companies and academic institutions, including Zhejiang University and Hangzhou Dianzi University, to develop technologies for growing monocrystalline silicon. Professor Qiu Minxiu, a mechanical-engineering professor at Zhejiang University who had retired in 2005, led the project. Jingsheng was established near the end of 2006 to commercialize the resulting work. Jingsheng became a listed company on the Shenzhen Stock Exchange’s ChiNext board on 11 May 2012, trading under ticker 300316.SZ. Its public-market development coincided with the expansion of China’s photovoltaic manufacturing base and the broader localization of semiconductor and crystal-material equipment. The company’s products are used in industrial environments where controlled crystal growth, ingot formation, cutting, grinding, and related automation are required. From 2017 onward, Jingsheng expanded its activity in silicon-carbide equipment and process development. It reported successful production of six-inch and eight-inch silicon-carbide ingots and substrates, extending its relevance beyond conventional photovoltaic silicon into a semiconductor material associated with power electronics and other advanced applications. The company is positioned as a high-end industrial equipment and materials technology supplier rather than a consumer-facing brand. Its business combines equipment research and development, manufacturing, sales, and related production-line services. Available references identify China as its primary operating base and describe its products as serving photovoltaic and semiconductor customers. Jingsheng also drew international attention in 2021, when an attempted acquisition involving Applied Materials’ Italian screen-printing-equipment business was blocked by the Italian government on strategic-sector grounds. The veto highlighted the geopolitical sensitivity of semiconductor manufacturing equipment and technology transfer.
History
Zhejiang Jingsheng Mechanical & Electrical developed from a technology project focused on monocrystalline-silicon growth. In 2005, Qiu Minxiu retired from her position as a mechanical-engineering professor at Zhejiang University. In the following year she led a project involving electromechanical companies and universities, including Zhejiang University and Hangzhou Dianzi University. The project sought to develop technologies for growing monocrystalline silicon, a foundational process for photovoltaic and semiconductor manufacturing. Jingsheng was established near the end of 2006 to commercialize the project’s technology. Its initial identity was therefore closely tied to the development of industrial equipment rather than to the production of consumer goods. The company’s core activities grew around crystal-growth systems and machinery for processing silicon materials. These capabilities placed it within the equipment supply chain supporting China’s expanding photovoltaic industry and its developing semiconductor-materials sector. A major corporate milestone occurred on 11 May 2012, when Jingsheng completed its initial public offering and became listed on the Shenzhen Stock Exchange. It trades on the ChiNext board under ticker 300316.SZ. Public listing provided the company with a formal capital-market presence and marked its transition from a technology-commercialization project into a listed industrial enterprise. In 2016, the company underwent a senior-management transition. Qiu Minxiu stepped down from managing the business. She was succeeded by Cao Jianwei, identified as her former student, who became chairman. He Jun became chief executive officer. This leadership change represented a generational and organizational transition while the company continued to operate in crystal-material equipment. Beginning in 2017, Jingsheng became deeply involved in silicon-carbide ingot-growth equipment and process development. Silicon carbide is a strategic semiconductor material used in applications such as power electronics, and its production requires specialized crystal-growth and substrate-processing capabilities. The company achieved production of six-inch and eight-inch silicon-carbide ingots and substrates, broadening its technical scope beyond monocrystalline silicon for photovoltaic applications. Jingsheng’s business scope includes research and development, manufacturing, and sales of semiconductor-related and photovoltaic-related equipment and materials. Its known equipment categories include automatic crystal-growth furnaces and machinery for cutting and grinding monocrystalline silicon rods. The company also develops intelligent production-line solutions, linking individual process machines with automation and manufacturing controls. The company’s international profile was highlighted in 2021 through a proposed transaction involving Applied Materials’ Hong Kong arm and an Italian screen-printing-equipment business. Jingsheng attempted to establish a joint venture to acquire the business, but Italian prime minister Mario Draghi vetoed the takeover in November 2021. The stated concern was that the transaction could affect Italy’s strategic semiconductor sector. The episode placed Jingsheng within wider debates about national security, strategic technologies, and government scrutiny of cross-border semiconductor-equipment transactions. Jingsheng is consequently best understood as a specialized Chinese industrial-technology company serving upstream and midstream manufacturing processes. Its evolution has followed the growth of photovoltaic production, the push toward domestic semiconductor-equipment capabilities, and the emergence of silicon carbide as an important advanced material. The available reference material does not establish a separate consumer brand portfolio or a confirmed current executive roster beyond the leadership changes described above.
- 2021
Italian government vetoes proposed equipment-business acquisition
[1]Italy blocked a proposed transaction involving Applied Materials’ Italian screen-printing-equipment business because of strategic semiconductor-sector concerns.
- 2017
Expansion into silicon-carbide crystal technology
[1]The company deepened development of SiC ingot-growth equipment and processes and achieved production of six-inch and eight-inch ingots and substrates.
- 2016
Senior-management succession
[1]Qiu Minxiu stepped down from management; Cao Jianwei became chairman and He Jun became chief executive officer.
- 2012
Initial public offering on the Shenzhen Stock Exchange
[1]Jingsheng became listed on the Shenzhen Stock Exchange’s ChiNext board on 11 May.
- 2006
Company established to commercialize monocrystalline-silicon technology
[1]A project involving companies and universities in Zhejiang led to the establishment of Jingsheng near the end of the year.
- 2005
Qiu Minxiu retires from Zhejiang University
[1]Mechanical-engineering professor Qiu Minxiu retired from Zhejiang University before leading the later crystal-growth technology project.
Products and positioning
High-end industrial equipment and crystal-materials technology manufacturer serving photovoltaic and semiconductor production.
Crystal-growth equipment
Automatic crystal-growth furnaces
Automatic crystal-growth furnaces are central to Jingsheng’s equipment portfolio. They are designed for controlled growth of crystalline materials used in photovoltaic and semiconductor manufacturing. The reference material identifies the company as a developer and manufacturer of crystal-growth equipment, but does not provide model names, specifications, capacities, or current product-line designations.
Silicon-processing equipment
Monocrystalline silicon rod cutting and grinding equipment
This equipment processes monocrystalline silicon rods after crystal growth. Cutting and grinding are important preparation stages before downstream wafer production and related material handling. Jingsheng is described as supplying machinery of this type for photovoltaic and semiconductor applications, although detailed technical specifications and individual product names are not provided in the reference material.
Silicon-carbide semiconductor equipment · 2017
Silicon-carbide ingot-growth equipment
Jingsheng has been involved in silicon-carbide ingot-growth equipment and process development since 2017. The company achieved production of six-inch and eight-inch SiC ingots and substrates, indicating activity in larger-format crystal-material manufacturing. The available material does not identify specific furnace models or commercial release dates.
Industrial automation
Intelligent production lines
The company provides intelligent production-line solutions in addition to individual machines. These solutions are associated with the automation and integration of crystal-material manufacturing processes for photovoltaic and semiconductor customers. Publicly available reference material does not specify the precise automation architecture, software brands, or customer installations.
Controversies
2021
Italian government veto of Applied Materials screen-printing equipment acquisition (2021)
In November 2021, Italian prime minister Mario Draghi vetoed Jingsheng’s proposed joint-venture acquisition of Applied Materials’ Italian screen-printing-equipment business, citing possible consequences for Italy’s strategic semiconductor sector.
Brand decisions
2021
Attempted acquisition of an Italian screen-printing-equipment businessM&ABackground
Jingsheng attempted to establish a joint venture with Applied Materials’ Hong Kong arm to acquire its screen-printing-equipment business in Italy.
Action taken
The proposed transaction was submitted to the relevant Italian government review process.
Aftermath
In November 2021, Italian prime minister Mario Draghi vetoed the takeover, citing possible consequences for Italy’s strategic semiconductor sector.
2017
Expansion into silicon-carbide ingot and substrate technologyProduct launchBackground
The company expanded beyond its established monocrystalline-silicon and photovoltaic-equipment activities into silicon-carbide crystal-growth equipment and process development.
Action taken
Jingsheng developed SiC ingot-growth capabilities and achieved production of six-inch and eight-inch ingots and substrates.
Aftermath
The initiative broadened the company’s role in semiconductor-related equipment and advanced crystal materials.
Recent events
Jingsheng Mechanical & Electrical discloses 2026 half-year report[3]
Reported:
Jingsheng Mechanical & Electrical (300316) disclosed its 2026 half-year report on August 23, reporting revenue of 3.452 billion yuan, net profit attributable to shareholders of 232 million yuan, and net operating cash flow of 1.366 billion yuan, up 205.75% year on year. Revenue fell 40.47% year on year mainly due to lower photovoltaic equipment and materials revenue, while semiconductor equipment and materials revenue reached 1.307 billion yuan.
Sources3 sources
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