Liquid Crystal on Silicon (LCOS) technology ingeniously integrates the outstanding performance of CMOS silicon-based circuits and the unique optical properties of liquid crystal materials into a tiny space. Through the meticulous craftsmanship of micro-nano processing technology, it achieves pixel-level precise control of the light field. Furthermore, with its advantages of high resolution, high dynamic range, and flexible light field control capabilities, LCOS technology provides unprecedented precision and flexibility for the encoding, modulation, and demodulation of optical signals, emerging as a crucial technical support for the future development of the optical communication field. In recent years, the Chinese government has also been actively promoting the improvement of the LCOS industrial chain. By establishing special funds, implementing tax preferential policies, and strengthening intellectual property protection, it guides the development of LCOS technology toward diversification and high-endization.

Benetech Optoelectronic Technology (Suzhou) Co., Ltd. (hereinafter referred to as "Benetech"), as a high-tech enterprise focusing on the R&D and application of LCOS technology, has been committed to providing customers with fully domestic, high-performance products and services since its establishment. Through continuous technical accumulation and market expansion, Benetech’s products have demonstrated high maturity and technical integrity, ranking among the industry’s forefront in terms of performance indicators, product and system stability. The enterprise is steadily advancing China’s LCOS technology toward the international leading level, injecting strong impetus into the vigorous development of the optical communication and display technology fields.

Around 2016, China’s LCOS technology development was still in the initial exploration stage. Key technologies and high-end products were highly dependent on the international market. Foreign products were not only expensive but also had poor adaptability, making it difficult to meet the needs of domestic enterprises. Xiao Feng, who had just returned to China, relied on his profound professional background and overseas R&D experience to keenly identify this gap in the industrial chain. He realized that promoting the localization of LCOS products was of great significance for achieving technological self-reliance. Thus, Xiao Feng founded Benetech in Suzhou, focusing on the R&D of domestic LCOS products. After 2019, with the escalation of the China-US trade war, the development of the communication technology field was constrained, further highlighting the importance of mastering independent core technologies.

As an important investment platform for Nanjing to promote technological innovation, industrial upgrading, and economic development, Nanjing Innovation Investment Group has focused on the development of strategic emerging industries since its establishment. It is committed to activating the potential of technological innovation, enhancing the resilience of the industrial chain, and accelerating the construction of an independent and controllable modern industrial ecosystem through the power of capital. In 2019, the Venture Capital Group keenly recognized that LCOS technology, as an important support for the development of the new generation of information technology, would have broad application prospects in the future. It thus officially launched in-depth industry research and forward-looking layout in this field. During the research, Benetech stood out in the industry with its unique market positioning and technical strength, successfully attracting the attention of the Venture Capital Group.

Subsequently, Nanjing Innovation Investment Group took the initiative to contact Benetech and launched a round of in-depth and comprehensive investment research on the enterprise. After learning about Benetech’s capital needs, the Venture Capital Group decided to provide the necessary financial support to help it break through technical bottlenecks and accelerate the R&D process. After the investment, Nanjing Innovation Investment Group also made full use of its advantages in industrial resources, market expansion, and brand building to customize a comprehensive and multi-level post-investment empowerment plan for Benetech. Xiao Feng said: "The investment team of Nanjing Innovation Investment Group has demonstrated extremely high professional quality and a strong sense of responsibility. They not only brought us financial support but also provided all-round help in the subsequent development process, making us deeply feel the Venture Capital Group’s high attention to technological innovation and the construction of an independent and controllable industrial chain."

Wang Shuli, General Manager of the First Investment Department of the Venture Capital Group, also conducted an in-depth analysis of this investment: "The investment in Benetech is mainly based on two considerations. First, the enterprise itself has scarcity. Benetech is the only enterprise in the domestic market (excluding Huawei) that has in-depth layout and mature products in the LCOS field. Moreover, as independent components, Benetech’s products have a wider range of application scenarios and can meet the customized needs of different customers. Second, the Venture Capital Group has always adhered to the investment principle of ‘investing in early-stage and small-scale enterprises’ and attaches particular importance to and pays attention to start-ups with development potential in strategic emerging industries."

"The development of electrical chip technology has now hit a bottleneck. To continue achieving breakthroughs in electrical chip technology below 5 nanometers, it not only requires a huge amount of capital investment but also faces the challenge of a sharp increase in technical difficulty. In contrast, the R&D cost of optical chips is relatively low, and they have great development potential. In the future, they may become an opportunity for domestic optical communication technology to achieve corner overtaking." General Manager Wang Shuli, who has rich experience in industry research and investment in the LCOS field, introduced that with the country’s strong support for the development of the new generation of information technology and the increasing performance requirements for optical communication products, optical chips and electrical chips— as the two core technical pillars in the field of communication chips— the importance of optical chips, which require less R&D investment, has become increasingly prominent.

On the path of promoting the localization of LCOS products, Benetech has always been guided by the needs of the domestic market. The company actively works with partners to refine every detail of the product from design to production, continuously iterates and upgrades products, optimizes performance parameters, improves user experience, and ensures that every product launched to the market can accurately meet the expectations of domestic enterprises. By meeting the customized needs of the domestic market, Benetech has successfully created a series of products widely recognized by customers, laying a solid foundation for Benetech to gain a foothold and achieve sustainable development in the highly competitive market.

After years of profound accumulation and continuous R&D investment, Benetech has achieved remarkable market results in the R&D of LCOS optical devices and systems. The company has not only made major breakthroughs in technological R&D, successfully developing multiple models of LCOS spatial light modulator products and innovative spectral analysis and processing modules but also achieved leapfrog development in the commercial application of products. Benetech’s multiple high-performance LCOS products not only occupy a leading position in the domestic market but also have the strength to participate in international market competition.

It is worth mentioning that Benetech has also built a unique advantage in industrial chain resources. The company has not only received strategic investment from leading equipment manufacturers in the midstream of the industrial chain but also obtained financial support from a leading enterprise in the downstream communication field in August 2024. This diversified and cross-field shareholder structure not only demonstrates the wide recognition and high attention of upstream and downstream enterprises in the industrial chain toward Benetech’s products but also lays a solid foundation for its subsequent market expansion. It is conducive to the construction and improvement of the industrial ecosystem in the LCOS field and will also help Benetech further expand its market through the brand influence and market channels of this downstream leading enterprise, driving the further development of the enterprise.

Currently, the LCOS field faces challenges such as relatively limited market application scenarios, high R&D investment, and long R&D cycles. These factors together form barriers that restrict the development of this field, making most enterprises hesitate to enter. However, Xiao Feng believes: "With continuous technological breakthroughs and innovations, the performance of LCOS products will continue to improve, thereby unlocking more potential application scenarios. Whether in optical communication, consumer electronics, biomedicine, or aerospace fields, LCOS technology will occupy a place. As these application scenarios gradually expand, the market demand for LCOS products will also show a steady growth trend, bringing development opportunities to the entire industry." Therefore, despite the current challenges, Benetech has always firmly believed that the LCOS field is developing in a positive direction.

At a time when relevant technologies are not yet mature and the relevant market is not yet well-developed, the development of enterprises in the LCOS field requires sufficient patience and continuous refinement of product quality. Xiao Feng emphasized: "In the future, Benetech will unswervingly continue to invest in product performance and reliability. We strive to ensure that the launch of every product represents a dual leap in technology and quality, and that every link from R&D to mass production reaches the optimal state."

As one of the few domestic enterprises with profound technical accumulation and mature product lines in the LCOS field, Benetech’s growth trajectory is not only a story of the enterprise’s continuous breakthroughs and innovations but also a vivid portrayal of Chinese enterprises bravely breaking foreign technological monopolies and firmly moving toward self-reliance and self-improvement in the global technological competition. It indicates that with the continuous iteration of technology and the gradual maturity of the market, Chinese enterprises are gradually realizing a magnificent transformation from "Made in China" to "Created in China", contributing an indispensable force to the evolution of the global technological pattern.