Changzhou Tronly New Electronic Materials

What Changzhou Tronly New Electronic Materials does

Changzhou Tronly New Electronic Materials Co., Ltd. (强力新材, Shenzhen Stock Exchange: 300429) is a Chinese specialty chemicals manufacturer founded in 2000 and headquartered in Changzhou, Jiangsu Province. The company develops and produces UV-curing photoinitiators, photoresist raw materials, and semiconductor-grade electronic chemicals, organized into three business segments: Electronic Materials (serving PCB and LCD photoresist manufacturers), Green Photosensitive Materials (UV-curing formulations for coatings, inks, and adhesives), and Semiconductor Materials (PSPI photosensitive polyimide, electroplating chemistry for advanced packaging, and photoresist raw materials). Its technology portfolio spans oxime ester photoinitiators, hexaaryl biimidazole (HABI) series, fluorene monomers, Cardo polymers, and ultra-low-metal-ion KrF/i-line photoresist polymers, with 655 patent applications and 362 granted patents supporting the platform.

The company operates a B2B enterprise sales model with direct technical engagement and qualification-based supply to global electronics manufacturers in Japan, South Korea, Taiwan, and China. Notable customer-side milestones include the 2024 launch of China's first domestic single-batch 100kg-scale ArF photoresist production line and the October 2025 achievement of independent mass production of LCD photoresist nano color paste across four color lines after a 1,300+ day joint development with Mitsubishi Chemical. Tronly generates revenue through one-time sales of chemical raw materials under multi-year contracts with customized enterprise pricing; 2025 disclosed revenue is 9.89亿元 RMB (~$135M USD) with gross margins typical of high-purity specialty chemicals. Backed by state-level designations (MIIT Manufacturing Single Champion, "Little Giant" enterprise, National IP Strong Enterprise), the company is positioned as a domestic substitution beneficiary in China's strategic photoresist and advanced packaging supply chain.

Name

Changzhou Tronly New Electronic Materials

Legal name

常州强力电子新材料股份有限公司

Website

http://www.tronly.com/en/

Company type

Public

Founded year

1997

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Changzhou Tronly New Electronic Materials (强力新材, SZSE: 300429) is a Chinese specialty chemicals manufacturer producing UV-curing photoinitiators, photoresist raw materials, and semiconductor-grade chemistries (PSPI, electroplating, ArF photoresist) for global PCB, LCD, and semiconductor manufacturers, with state-level localization positioning in China's strategic electronics supply chain.

Ownership category

akta.pro rank

Product category

Electronic Specialty Chemicals

NAICS

Paint, Coating, and Adhesive Manufacturing (3255), Paint and Coating Manufacturing (32551)

SIC

Industrial Organic Chemicals (2860), Miscellaneous Chemical Products (2890), Photographic Equipment & Supplies (3861)

akta.pro primary industry

Photoresists & Lithography Materials (Resists, Developers, Strippers) (IMAEAKAB)

akta.pro secondary industries

Display & Optoelectronics Chemicals (OLED/LCD materials, polarizer chemicals) (IMAEAKAN), Electroplating & Metallization Chemicals (Cu/Ni/Au plating, additives) (IMAEAKAK), PCB & Electronics Manufacturing Chemicals (Desmear, micro-etch, plating, fluxes) (IMAEAKAL), Industrial & Protective Coatings (IMAEAGAB)

Keywords

• Photoinitiator chemicals
• Photoresist raw materials
• UV curing chemicals
• Semiconductor packaging materials
• Electronic specialty chemicals

Headquarters

HQ city

Wuzhou

HQ country

China

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Electronic Materials Sales: Sale of photoinitiators, sensitizers, triazine compounds, co-initiators, monomers, polymers, oxime esters, fluorene monomers and Cardo polymers, and semiconductor photoresist raw materials to PCB, LCD, and semiconductor manufacturers globally.
2. Green Photosensitive Materials: Sale of free radical photoinitiators, cationic initiators, oxetane monomers and resins, sensitizers, co-initiators, macromolecular photoinitiators, and fine chemicals for UV curing formulations in coatings, inks, and adhesives.
3. Semiconductor Materials: Sale of electroplating materials and photosensitive polyimide (PSPI) for advanced packaging, display, and semiconductor applications including wafer-level packaging, 2.5D/3D packaging, and TSV processes.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Changzhou Tronly manufactures specialty chemicals for the electronics industry across three segments: electronic materials (photoinitiators, sensitizers, triazines, co-initiators, monomers/polymers, oxime esters, fluorene/Cardo polymers, and semiconductor photoresist raw materials) for PCB and LCD manufacturers; green photosensitive materials (free-radical and cationic photoinitiators, oxetane monomers, macromolecular photoinitiators, fine chemicals) for UV-curable coatings, inks, and adhesives; and semiconductor materials (advanced packaging electroplating chemistries and negative-tone photosensitive polyimide) for wafer-level and 2.5D/3D packaging. The portfolio spans the full photoresist value chain from raw photoacid generators and resins to formulated photoresist components, serving global electronics manufacturers in China, Japan, South Korea, and Taiwan.

Product overview

Changzhou Tronly New Electronic Materials (强力新材) provides next-generation specialty chemicals, equipment systems, and services for the electronics industry. The company operates three main business segments: Electronic Materials (电子材料), Green Photosensitive Materials (绿色感光材料), and Semiconductor & Advanced Display Materials (半导体及先端显示材料). Electronic Materials include Hexaaryl Biimidazole Series, Sensitizers, Triazine Series, Co-initiators, Monomers & Polymers, Oxime Ester Series, Fluorene Monomer & Cardo Polymers, and Semiconductor Photoresist Raw Materials - serving PCB and LCD photoresist manufacturers. Green Photosensitive Materials encompass Free Radical Photoinitiators, Oxetane monomers, Macromolecular Photoinitiators, and Fine Chemicals for UV curing formulations. Semiconductor Materials comprise Photosensitive Polyimide (PSPI) for chip packaging and Electroplating Materials for advanced packaging applications. The product portfolio enables digital printing, displays, semiconductors, and renewable energy applications.

Differentiator

Problem solved

Functional benefit

Products and services

• Hexaaryl Biimidazole Series (HABI Photoinitiators) Photoinitiators for dry film photoresist applications, including TR-HABI-101 (261nm), TR-HABI-102 (327nm/349nm, high photosensitivity), TR-HABI-107 (269nm, halogen-free), and TR-HABI-119H (264nm/376nm, dual-band initiator for 355nm and 405nm). Used by PCB and dry film photoresist manufacturers.
• Sensitizers for Photoresist and Coatings Photosensitizers that enhance photoresist performance across wavelengths from 249-422nm, including TR-PAD-101, TR-PAD-103, TR-PAD-201, NEW-PAD, TR-PSS-202, TR-PSS-205, TR-PSS-603. Used in photolithography, coatings, inks, and solder resist formulations.
• Triazine Series Photoinitiators Photoinitiators for color filters and dry film photoresists, including TR-PAG-102 (336nm), TR-PAG-104 (326nm), TR-PAG-107 (248nm/293nm/352nm), TR-PAG-110 (249nm/373nm), and TR-PAG-115 (360nm). Used by color filter and dry film photoresist manufacturers.
• Co-initiators Co-initiators for UV curing formulations, including TR-LCV (260nm color former for dry film), TR-N-PG (for acrylic monomer/oligomer UV curing systems), and TR-PTSA (for fluorescent dyes, plasticizers, synthetic resins, coatings, and wood processing brighteners).
• Monomers & Polymers UV-reactive monomers and oligomers including TM1201 (low viscosity, high refractive index), TM1214 (high reactivity, low oxygen inhibition), TM2201-1, TM2203, TM2204, TM2210-1, and TR-U/TR-E series. Used in UV curing coatings, inks, and adhesives.
• Oxime Ester Series Photoinitiators High-sensitivity oxime ester photoinitiators for UV curing formulations including TR-PBG-304 (260/297/338nm), TR-PBG-314, TR-PBG-A, TR-PBG-305 (240/328nm, low yellowing), TR-PBG-3057, and TR-PBG-B (233/280/363nm). Subject of Patent ZL 201410100523.3 (dual oxime ester innovation, China Patent Silver Award 2023).
• Fluorene Monomer & Cardo Polymers Fluorene-based monomers and Cardo polymers for heat-resistant and high-refractive applications, including TR-FR-201 (white crystalline powder, purity ≥96.0%) and TR-FR-301 (light yellow transparent liquid, solid content 40-60%). Used in composite materials, insulation, adhesives, optical coatings, and for synthesizing black photoresist resins (BM) and colored photoresist resins.
• Semiconductor Photoresist Raw Materials (PAGs and PHS Resins) Raw materials for semiconductor photoresists including photoacid generators (PAGs) and polymers for KrF and i-line photoresists. Products include TR-PAG-20304 (KrF, purity ≥99.50%, metal ions ≤10ppb), TR-PAG-30204, TR-PAG-40507 (i-line), TR-PAG-42203, TR-TM1302 (KrF monomer), TR-B601 (PHS resin, Mw 8000-15000), and TR-B602 (BOC-protected PHS resin). Used by semiconductor photoresist manufacturers.
• Free Radical Photoinitiators Photoinitiators for UV curing including TR-4-MBP, TR-4-PBZ, TR-184 (244/280/330nm), TR-369 (233/324nm, deep cure), TR-379, TR-907, TR-1173 (244/278/322nm), TR-BDK, TR-BP, TR-CBP, TR-DETX, TR-ITX, TR-MBF (255/325nm, very low yellowing), and TR-NPI series (including TR-NPI-20400, no reproductive toxicity).
• Cationic Photoinitiators Comprehensive cationic photoinitiator portfolio (TR-PAG series) with wavelengths from 236nm to 300nm, featuring high activity, high stability, and low toxicity options. Used in optical film curing, electronic circuit bonding, epoxy coatings, and 3D printing applications.
• Oxetane Monomers Epoxy-functional oxetane monomers for UV curing including THM208-1, THM202, TCM241 (low viscosity, low shrinkage, for 3D printing), TCM218, TCM207 (very low viscosity for inkjet), TCM203, TCM201, TCM109, and TCM101. Used in electronic material packaging, 3D printing, special inks, and adhesives.
• Macromolecular Photoinitiators High-molecular-weight photoinitiators with low odor, high activity, low yellowing, low migration, low toxicity, and low oxygen inhibition, including TR-PPI-ONE (258nm), TR-PPI-102S (wood coatings), TR-PPI-102 (food packaging inks), TR-PPI-101S, and TR-PPI-101.
• Fine Chemicals Specialty fine chemicals including TR-Benzoin (defoamer and pharmaceutical raw material) and TR-Benzil (UV absorber and pharmaceutical raw material).
• Electroplating Materials for Advanced Packaging Electroplating chemistries for semiconductor advanced packaging, including 8540HSP-Cu (RDL, normal/micro/mega pillar, conformal TSV), 9200-Cu (TSV with bottom-up filling), 9600-Cu (mega pillar), Nickel BP (UBM barrier), and TS4000S (micro bump, C4 bump, copper pillar capping). Features high plating speed, high purity, adjustable morphology, and void-free filling.
• Photosensitive Polyimide (PSPI) Negative-tone photosensitive polyimide products for semiconductor packaging: ST-1001A (high-temp cure 350-400°C, wafer-level/fan-in packaging), ST-1012 (stress buffer layer, 350-400°C), ST-2001 (low-temp cure 200-350°C, wafer-level/fan-out/2.5D-3D packaging), ST-2001LV (low viscosity), and ST-2002 (ultra-low temp cure 180-250°C, 2.5D/3D packaging). Features high heat resistance, process stability, adhesion, and chemical corrosion resistance.
• LCD Photoresist Nano Color Paste LCD photoresist nano color paste (LCD光刻胶用纳米色浆) for color filter photoresists in flat panel display manufacturing. Jointly developed with Mitsubishi Chemical (partnership began January 2022) and now in self-sufficient mass production across red, green, blue, and black production lines.
• ArF Photoresist Materials ArF photoresist materials for advanced semiconductor lithography. Tronly built China's first domestic single-batch 100kg-scale ArF photoacid generator production line in 2024, achieving international advanced product quality standards.

Quantifiable outcome

• Global market share leading position in oxime ester photoinitiators since 2009
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Mitsubishi Chemical Corporation (三菱化学)coreStrategic or Co-development Partner · 27 January 2022Strategic cooperation for LCD photoresist nano color paste technology development. Joint development to solve localization challenges for LCD photoresist nano color paste. After 3 years and 8 months of development (1,300+ days), achieved mass production with four production lines (red, green, blue, black) and ton-level sales. Tronly declared entry into independent mass production era in October 2025.
• Beijing University of Chemical Technology (北京化工大学)coreStrategic or Co-development Partner · 1 January 2021Joint development of high-sensitivity photoinitiators for flat panel display photoresist. Project 'High-sensitivity photoinitiator development and industrialization for flat panel display color photoresist' received provincial science and technology achievement transformation funding of 10 million yuan. Won China Photographic Society Science and Technology Progress First Prize in 2021.
• Jiangsu Industrial Technology Research Institute (江苏省产业技术研究院)coreStrategic or Co-development Partner · 14 January 2020Established JITRI-Tronly Joint Innovation Center to integrate domestic and international innovation resources, identify industry-specific problems, and provide joint research, project cultivation, investment guidance, and other innovative services to accelerate industrialization.
• Fudan University School of Management (复旦大学管理学院)minorStrategic or Co-development PartnerChairman Qian Xiaochun participated in Advanced Manufacturing Executive Program (Class 4). Company hosted Fudan Management School Changzhou alumni event and management summit discussions on technology innovation and green development.

Scale indicators10 records

Recent moves17 records

Expansion highlights6 records

Broad incumbents

• Fujifilm Electronic Materials: Subsidiary of Fujifilm producing photoresists, CMP slurries and electronic chemicals for semiconductor and display manufacturers. Directly comparable in advanced photoresist chemistries.
• JSR Corporation: Japan-based global leader in photoresists (ArF, KrF, EUV) and electronic materials. Comparable as a benchmark for the photoresist market Tronly is targeting domestically, though significantly larger and broader in scope.
• Sumitomo Chemical: Major Japanese chemical manufacturer with photoresist and display material offerings including OLED and color filter materials. Overlaps with Tronly's LCD photoinitiator and display materials businesses.
• Tokyo Ohka Kogyo (TOK): Leading Japanese photoresist manufacturer serving semiconductor and display customers globally. Directly comparable product overlap in ArF/KrF photoresists and advanced packaging materials.
• Shin-Etsu Chemical: Diversified Japanese chemical giant with major photoresist and silicon wafer businesses. Comparable in semiconductor materials offering though vastly larger and more diversified.
• BASF: Global chemical giant whose patent monopoly in LCD photoinitiators Tronly explicitly broke. Relevant as the historical incumbent whose market share Tronly has captured in oxime ester photoinitiators.

Direct peers

• Mitsubishi Chemical: Japanese chemical group and strategic partner of Tronly in LCD photoresist nano color paste. Both parties co-developed technology that Tronly now produces independently, making Mitsubishi a peer as well as a partner.
• Toyocolor (Toyo Ink Group): Japanese specialty chemicals producer with strong photoinitiator and pigment dispersion portfolios for electronics and UV curing. Comparable in oxime ester and triazine photoinitiator categories.
• IGM Resins: Global specialty chemical company focused on UV-curable photoinitiators, oligomers and additives. Closest Western peer in the free-radical photoinitiator and UV curing segments where Tronly operates its green photosensitive materials business.
• Eternal Materials: Taiwan-based specialty chemical and UV-curable material manufacturer with strong photoinitiator and photoresist offerings. Closest direct peer to Tronly in UV curing and display photoresist markets.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments

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

Frequently asked questions about Changzhou Tronly New Electronic Materials