Zhao Lixin is the founder of one of the largest Chinese semiconductor suppliers.
Born in 1966 in China, Zhao Lixin spent a discreet childhood. In his late teens, he left his family and went to study in Beijing.
After studying engineering science at Tsinghua University, Zhao Lixin spent three years as a licensed semiconductor manufacturer in Singapore and one year as a CIS (CMOS image sensor) designer at ESS in the US before joining UTStarcom, where he gained extensive design and manufacturing experience.
In 2003, with an initial investment of $2M of his own patents in the field of high-end image sensors, he founded Galaxycore, a company specialising in design of integrated circuits for CMOS image sensors and display driver ICs.
From very beginning, Zhao Lixin plans the development of his company completely.
For him, first thing to do is to create a process, then create technology. Only after these two steps does he commit to manufacturing product. To increase his productivity and visibility, he decided to partner with SMIC Technology, a Chinese foundry specialising in technology, which at same time wanted to make an image sensor. Galaxycore helped SMIC establish CIS production process line, and SMIC was responsible for R&D expenses.
Galaxycore’s fortunes were built when the company began selling its products during a period of market shortages.
In early 2005, many of its peers were ignoring relatively small PC market and focusing on high-end mobile phone market. «Although the technical content of PC market is not high, this is starting point for Galaxycore to survive,» says Zhao Lixin. The goal is to make a name for itself before focusing on developing new innovations. Thanks to his choice, Zhao has enabled his company to sell 16M chips in a single year, with sales reaching $5M. This kind of performance was rare in the industry at that time. This success also helped Galaxycore secure investment from Walden International and Sequoia Capital. Following this, Zhao Lixin made a second key decision to enter mobile phone market.
GalaxyCore designs, develops and sells high-performance CMOS image sensors that can convert captured optical image signals into digital output signals.
For Zhao Lixin, his company’s technologies need to go beyond telephony. He wants to expand his eco-system.
He therefore decided to expand into smart clothing, mobile payments, tablets, laptops, cameras, car electronics, etc. For the entrepreneur, it was also essential to go international. So he opened more implementation: 7 in China, 1 in India and 1 in South Korea.
Zhao Lixin has always stressed that a company cannot go far without basic technology of its own creation. Currently, Galaxycore holds fully independent intellectual property rights to design and algorithms of CMOS image sensors and multimedia processors, as well as the world’s most efficient and competitive manufacturing process technology.
GalaxayCore has established itself as a leader in electronics, with clients including giants such as Oppo, Xiaomi, Samsung or Lenovo.
In 2021, 18 years after its creation, GalaxyCore was successfully listed on Shanghai Stock Exchange. Valued at $7.5bn, it rose by 145% on its first day.
Zhao Lixin said, «We’ve been on this road for 18 years, and there will be another 18 years of waiting for us to go even further.»
Today, Zhao Lixin, who is still the head of his company with a 42% stake, lives in Shanghai with his wife.
«The aim of Galaxycore is to show to the world China’s innovation.»
IN A FEW FIGURES
Headquarters in Shanghai, China
1,112 employees
9 locations: China, India, South Korea
Sales 2022: $861M
Net profit 2022: $109M
Market capitalisation: $6bn
3 awards between 2020 and 2021 in the field of integrated circuits
THE CHINESE ELECTRONICS MARKET
- Integrated circuit production in China: 8.1% of the world market
- Integrated circuits: 15% of imports
- Part of the „Made in China 2025“ industrial programme
- Impact of Sino-US tensions
- Impact of the shortage of semiconductors
- Top 5 foundries : TSMC (Taiwan): 57%- UMC (Taiwan): 9% - SAMSUNG (South Korea): 8% - Globalfoundries (USA): 7% - SMIC (China): 5%
At 57, Zhao Lixin is CEO of Chinese semiconductor supplier GalaxyCore. His fortune is estimated at $2.9bn (source: Forbes, February 2023).