C Sun Manufacturing

What C Sun Manufacturing does

C Sun Manufacturing Ltd. (TSE: 2467) is a Taiwan-headquartered precision process equipment manufacturer founded in 1966, serving semiconductor, printed circuit board, flat panel display/touch panel, electronics assembly, printing and coating, and athletic footwear industries in more than 20 countries. The company's core platform integrates five proprietary process technologies — UV (ultraviolet light), thermal/baking, lamination & coating, wet process, and plasma process — which together support its product portfolio of exposure machines, multi-layer furnaces, vacuum wafer lamination systems, vertical automatic stripping machines, plasma cleaners, cleanroom ovens, and roll-to-roll coating systems.

The company earns revenue primarily through one-time capital equipment sales negotiated per customer, supplemented by recurring consumables (UV LED lamps, mercury-xenon arc lamps, UV meters) and after-sales service. Its go-to-market combines direct field sales in Taiwan, mainland China, and (since 2024) Thailand with active participation in industry exhibitions such as COMPUTEX, SEMICON, IEEE ECTC, and Touch Taiwan; the 2020-vintage G2C+ Alliance with GPM and GMM is used to deliver one-stop, single-window integrated equipment solutions to Tier-1 customers including TSMC, AUO, TCL CSOT, CEC CHOT, BOE, and TPK. Operating infrastructure includes the Linkou headquarters, a Taichung smart-factory in the Precision Machinery Innovation Park, manufacturing operations in Guangzhou and Kunshan, a Dongguan service point, and a Thailand subsidiary.

C Sun holds ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, ISO/IEC 27001:2022, ISO 50001:2018, SEMI E187, and TIPS Level A certifications, and maintains consistent patent output of 16-32 filings per year. Leadership is anchored by the founding Liang family — Morrison Liang (CEO/Chairman), Liang Maozhong (Vice CEO, retired August 2025), Frank Liang (General Manager, also Chairman of GMM) — with Frank Liang's 2025 EY Entrepreneur of the Year Grand Prize and C Sun's consecutive 2023 and 2025 TSMC Excellent Production Support Awards underscoring current momentum.

Name

C Sun Manufacturing

Legal name

志聖工業股份有限公司

Website

https://csun.com.tw

Company type

Public

Founded year

1966

Operating status

Operating

Headcount range

501–1,000 employees

Short description

C Sun Manufacturing (TSE: 2467) is a 1966-founded Taiwan-listed precision equipment maker integrating UV, thermal, lamination, wet, and plasma process technologies to serve semiconductor, PCB, flat panel display, electronics, and footwear manufacturers in over 20 countries, with deep tier-1 customer relationships including TSMC, AUO, BOE, and TPK.

Ownership category

akta.pro rank

Headquarters

HQ city

Linkou

HQ country

Taiwan

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Equipment Manufacturing and Sales: Manufactures and sells high-precision production equipment including PCB processing equipment, FPD/touch panel equipment, semiconductor processing equipment, shoe manufacturing equipment, and electronics/coating/printing equipment. Revenue is generated through one-time capital equipment sales to enterprise customers, with additional revenue from consumables and after-sales service. The company also generates ancillary revenue from technical services and spare parts.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

C Sun Manufacturing designs, manufactures, and sells high-precision capital production equipment for semiconductor, PCB, flat panel display/touch panel, electronics/printing/coating, and shoe manufacturing industries. The company is built on five core process technology pillars (UV, thermal/baking, lamination & coating, wet process, and plasma process) and supplies equipment to tier-1 manufacturers such as TSMC, AUO, BOE, TCL CSOT, and TPK. Additional revenue is generated from consumables (UV lamps, UV LED, UV meters) and after-sales service and spare parts.

Product overview

C Sun Manufacturing is a diversified process equipment manufacturer founded in 1966, organized as a platform-plus-products architecture built on five core technology pillars: UV Process, Thermal/Baking Process, Lamination & Coating, Wet Process, and Plasma Process. The product portfolio spans six major categories: (1) Semiconductor Processing Equipment covering baking, plasma, film lamination/peeling, and Bonder equipment; (2) Printed Circuit Board Processing Equipment including exposure machines, lamination/coating, and preheating equipment for inner, outer, and solder mask processes; (3) Touch Panel/FPD Processing Equipment with multi-layer furnaces and ovens; (4) Shoes Manufacturing Equipment including hot air ovens, UV irradiation, plasma cleaners, and coating machines; (5) Electronic/Coating/Printing Equipment featuring vertical lift furnaces, roll-to-roll solutions, clean room ovens, and drying equipment; and (6) Consumables including UV lamps, UV LED, and UV meters. The company serves PCB, flat panel display, semiconductor, electronic assembly, printing, coating, and shoe industries with high-precision production equipment.

Differentiator

Problem solved

Functional benefit

Products and services

• Semiconductor Processing Equipment (半導體製程設備) Equipment for semiconductor manufacturing processes including baking, plasma processing, film lamination/peeling, and Bonder equipment for wafer-level packaging. Designed for semiconductor manufacturers and advanced packaging companies requiring precision wafer-level processing, 3D stacking, heterogeneous integration, line miniaturization, and wafer thinning.
• PCB Processing Equipment (電路板製程設備) PCB manufacturing equipment including exposure machines (automatic, semi-automatic, manual), lamination/coating equipment, and board surface preheating equipment for inner layer, outer layer, and solder mask processes. Targets PCB manufacturers requiring high-precision, energy-efficient, automated equipment.
• Touch Panel / FPD Processing Equipment (面板/觸控製程設備) Flat panel display and touch panel manufacturing equipment including multi-layer furnaces and ovens for FPD/LCD production processes. Multi-layer furnaces, UV LED exposure machines, thermal processing equipment, LCM aging test equipment, silver paste curing ovens, high-temperature multi-layer furnaces, and tunnel furnaces for FPD manufacturers.
• Shoes Manufacturing Equipment (運動鞋製造業) Equipment for athletic shoe manufacturing including precision hot air ovens (SMO series), conveyor hot air ovens (BCO series), UV LED irradiation machines, plasma cleaners for shoes, midsole coating machines, and PUR spray guns. Targets shoe manufacturers requiring precision thermal processing and UV curing for sole bonding, coating, and finishing processes.
• Electronic/Coating/Printing Equipment (電子/塗裝/印刷) Manufacturing equipment for electronic assembly, coating, and printing industries including automatic vertical lift furnaces (QVCOL series), roll-to-roll processing solutions, precision hot air ovens, clean room ovens, non-oxidizing ovens, drying machines, and vacuum deaeration equipment. Targets electronics assembly, printing, and coating companies requiring UV LED systems, precision ovens, and drying equipment.
• Consumables (耗材專區) Replacement parts and consumables for manufacturing equipment including UV LED lamps, UV lamps, mercury-xenon short-arc lamps, various UV meters, and UV printing resin rollers. Supports the installed base of C Sun equipment with recurring revenue from consumables.

Quantifiable outcome

• Revenue reached record high of TWD 5.723 billion in 2021, with 2022 after-tax EPS of TWD 4.59 also a record.
• +3 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

13 partnerships are on record, tiered core and minor.

• G2C+ Alliance (GPM + GMM)coreStrategic or Co-development Partner · 1 January 2020The G2C+ Alliance was established in 2020 by C SUN (志聖), GPM (均豪精密), and GMM (均華精密), combining their respective expertise in semiconductor, panel, and PCB industries. The alliance operates on a 'T-strategy' framework, horizontally connecting companies across different industry domains while deeply cultivating individual technology specializations. The alliance provides a single-window, one-stop solution (One Stop Solution) enhancing delivery timelines and overall service flexibility for customers.
• GPM (均豪精密工業股份有限公司)coreStrategic or Co-development PartnerGPM is a G2C+ alliance partner specializing in automation equipment, LCD, PV, PCB, biomedical, robotics, and intelligent automation equipment. GPM and C Sun collaborate on integrated semiconductor and electronics manufacturing solutions through the G2C+ alliance. GPM is also a major shareholder of C Sun with 12.73% ownership stake.
• GMM (均華精密工業股份有限公司)coreStrategic or Co-development PartnerGMM is a G2C+ alliance partner with 40+ years of technology and product foundation in semiconductor mold and packaging equipment, holding 50 Taiwan patents and 31 China patents. Core technologies include precision pick-and-place technology for die sorting and die bonding, precision machining for stamping and molding, and optoelectronic integration technology for laser marking and optical inspection.
• GOLF (Gap of Learning & Field) AllianceminorOthers
• Taiwan Printed Circuit Association (TPCA)minorStrategic or Co-development PartnerC Sun participates actively in TPCA activities and has won multiple green decoration iECO design awards at TPCA exhibitions. The association represents Taiwan's PCB industry, promoting overall industry competitiveness.
• Taiwan Electronics Equipment Association (TEEIA)minorStrategic or Co-development PartnerC Sun Chairman Liang Maosheng serves as TEEIA Vice Chairman. TEEIA serves as a platform connecting Taiwan equipment manufacturers with user companies and international partners, actively promoting high-tech industry equipment localization and local procurement of components.
• Taiwan Semiconductor Industry Association (TSIA)minorStrategic or Co-development PartnerTSIA reflects industry opinions and needs and provides recommendations to government agencies on semiconductor industry policies.
• SEMI InternationalminorStrategic or Co-development PartnerSEMI is a global industry association promoting the development of microelectronics, flat panel displays, and solar photovoltaic supply chains. C Sun holds SEMI E187 certification and participates in SEMI organized events.
• Taiwan Electronics Industry Association (TEEMA)minorStrategic or Co-development PartnerTEEMA (Taiwan Electrical and Electronic Manufacturers Association) is one of Taiwan's largest and most influential industry associations with over 3,800 member companies.
• Taiwan Display Panel Association (TDUA)minorStrategic or Co-development PartnerTDUA awards the Gold Panel Awards annually for display technology innovation, which C Sun has won multiple times for display component product technology.
• Suzhou Chuangfeng Optoelectronics Technology (蘇州創峰光電科技有限公司)minorStrategic or Co-development PartnerSuzhou Chuangfeng specializes in wet process equipment for PCB, FPC, chip carrier substrates, touch screens, and solar PV. Invested as C Sun subsidiary in 2011, providing wet process equipment design, manufacturing, and sales.
• Broadweb Technology (博維科技)minorStrategic or Co-development PartnerBroadweb Technology was invested in as a C Sun subsidiary in 2014, expanding C Sun's technology capabilities.
• Huashun Technology (華順科技)minorStrategic or Co-development PartnerInvested as C Sun subsidiary in 2012, developing PSS (Patterned Sapphire Substrate) technology.

Scale indicators7 records

Recent moves13 records

Expansion highlights6 records

Broad incumbents

• Applied Materials: Applied Materials is the largest semiconductor equipment maker globally with broad portfolios in deposition, etch, CMP, and advanced packaging. Applied Materials' black diamond and packaging solutions compete for advanced packaging budgets at TSMC and other Tier-1 customers alongside C Sun's process equipment.
• Tokyo Electron (TEL): Tokyo Electron is one of the largest global semiconductor equipment makers with broad exposure to deposition, etch, lithography tracking, and cleaning — including coater/developer systems that overlap with C Sun's coating/lamination niche. TEL competes with C Sun at major customers and sets the technology bar for advanced packaging equipment.
• SCREEN Holdings: SCREEN Holdings is a Japanese semiconductor equipment maker specializing in wafer cleaning, coating, and developing equipment. SCREEN's coating and cleaning tools directly overlap with C Sun's wet process and lamination equipment — competing for similar semiconductor manufacturing process budgets.

Direct peers

• ASMPT (ASM Pacific Technology): ASMPT is a Hong Kong-headquartered leader in semiconductor assembly and packaging equipment (die bonding, wire bonding, TCB). ASMPT is a direct peer to C Sun's semiconductor equipment business, particularly in advanced packaging — competing for similar budgets at TSMC and other leading foundries.
• BE Semiconductor Industries (Besi): Besi is a Dutch semiconductor assembly equipment manufacturer specializing in die bonding, hybrid bonding, and packaging tools for advanced semiconductor and LED applications. Besi's hybrid bonding tools directly target the same advanced packaging market that C Sun's lamination and Bonder equipment serves.
• GMM (均華精密工業): GMM is a Taiwan-based semiconductor mold and packaging equipment maker with 40+ years of history and 50 Taiwan + 31 China patents. GMM is the third member of the G2C+ Alliance, providing precision pick-and-place die bonding and stamping equipment — directly complementary to C Sun's lamination and stripping tools.
• Disco Corporation: Disco is the global leader in semiconductor dicing, grinding, and polishing equipment — directly comparable to C Sun's semiconductor processing equipment portfolio (wafer thinning, packaging). Disco serves the same Tier-1 customers (TSMC, Samsung) and addresses the same advanced packaging trends (3D stacking, heterogeneous integration).
• GPM (均豪精密工業): GPM is a Taiwan-based automation and equipment manufacturer specializing in LCD, PV, PCB, biomedical, and robotics equipment. GPM is a core member of the G2C+ Alliance alongside C Sun, sharing customers and co-developing integrated semiconductor solutions. GPM also holds 12.73% of C Sun, formalizing the partnership.
• Kulicke & Soffa Industries: K&S is a US-headquartered semiconductor and LED assembly equipment specialist with leading positions in wire bonding, TCB, and advanced packaging tools. K&S directly overlaps with C Sun's wafer-level packaging equipment portfolio and serves the same Tier-1 semiconductor customer base.

Emerging players

• Camtek: Camtek is an Israeli semiconductor inspection and metrology equipment maker serving advanced packaging, HBM, and compound semiconductor markets. Camtek intersects with C Sun's semiconductor equipment business through shared advanced packaging customers and complementary tool offerings.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about C Sun Manufacturing