中国科学院控股有限公司

What 中国科学院控股有限公司 does

中国科学院控股有限公司 (CAS Holdings, 国科控股) is a central-level state-owned asset management company established in 2002 with State Council approval as the first central-level operational state-owned asset management pilot enterprise. The company is wholly owned by the Chinese Academy of Sciences and serves as the sole institutional bridge between CAS's 100+ research institutes and industrial commercialization, exercising shareholder rights over 40+ portfolio companies and 51 listed entities (including 17 STAR Market listings) spanning semiconductors, vacuum technology, environmental protection, new materials, publishing/media, biomedicine, and optoelectronics.

The company operates four core business lines: equity management (股权管理) over portfolio companies, fund investment (基金投资) through four specialized PE/VC fund management subsidiaries that co-invest with top-tier domestic PE firms, strategic direct investment (战略直投) in strategic emerging industry projects aligned with CAS technology strengths, and state-owned asset supervision (国资监管) for CAS-affiliated institutions. Technology commercialization assets span the portfolio: dry vacuum pumps that break Western/Japanese semiconductor chokepoint monopolies (Zhongke Yi, 920186.BJ), BNCT clinical equipment derived from China's Spallation Neutron Source (Guoke Zhongzi), high-end scientific instruments and electron microscopes, multi-effect flue gas purification and waste-to-energy cogeneration (Zhongke Environment, 301175.SZ), and the Software Center's self-developed multi-agent collaboration platform for technology supply-demand matching.

Revenue is generated through dividends, capital appreciation, supervision fees, and fund management income across the portfolio rather than direct product sales. Go-to-market is institutional B2B/B2G, targeting CAS research institutes for commercialization, strategic emerging industry companies for direct investment, and institutional PE/VC firms and policy-bank LPs (National Social Security Fund, CDB, SDIC) for fund co-investment. The company does not have a single core technology itself; its value is derived from managing and commercializing technologies developed across its subsidiary and associated enterprise ecosystem.

Name

中国科学院控股有限公司

Legal name

中国科学院控股有限公司

Website

https://casholdings.com.cn

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

1–10 employees

Short description

中国科学院控股有限公司 is a central-level state-owned asset management company wholly owned by the Chinese Academy of Sciences, serving as the sole institutional bridge for commercializing CAS research outputs through equity management, fund investment, and strategic direct investment across 40+ portfolio companies and 51 listed entities.

Ownership category

akta.pro rank

Product category

State-owned Asset Management

NAICS

Management of Companies and Enterprises (55111), Management of Companies and Enterprises (551), Management of Companies and Enterprises (5511), Portfolio Management and Investment Advice (523940), Trust, Fiduciary, and Custody Activities (523991)

SIC

Patent Owners & Lessors (6794)

akta.pro primary industry

Corporate Trust Services (Trustee, Agent & Escrow Roles) (FSAEAKAB)

akta.pro secondary industry

Patent Prosecution & Portfolio Management (BPAHAMAA)

Keywords

• State-owned asset management
• Equity management services
• Private equity investment
• Venture capital fund management
• Strategic direct investment

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. 股权管理 (Equity Management): Shareholder rights management over 40+ portfolio companies and 51 listed entities. Revenue is generated through dividends, equity appreciation, and value creation from portfolio companies' operations and IPOs. The company also earns management fees from supervised enterprises and provides supervision services to CAS-affiliated institutions.
2. 基金投资 (Fund Investment): Private equity fund investment through 4 specialized PE/VC fund management subsidiaries. Co-invests with top-tier domestic PE firms (Sequoia, IDG, Legend Capital, CDH, Hony, Qiming) as both LP and co-GP. Generates returns through capital appreciation and carried interest.
3. 战略直投 (Strategic Direct Investment): Direct equity investment in strategic emerging industry projects aligned with CAS technology strengths. Focus areas: energy conservation/environmental protection, new-generation IT, high-end equipment manufacturing, new materials, health/biomedicine, and new energy. Generates capital gains through investment appreciation and exits.
4. 国资监管 (State Asset Supervision): Supervision and management services for CAS-owned productive state assets, ensuring value preservation and appreciation of state-owned capital. Provides industry analysis, policy consulting, talent training, achievement transfer, and investment introduction services to affiliated institutions. Revenue derives from supervision fees and service charges.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

CAS Holdings is a central-level state-owned asset management company established by the State Council and wholly owned by the Chinese Academy of Sciences. It exercises shareholder rights on behalf of CAS over a portfolio of 40+ investee enterprises and 51 listed companies, and conducts its main business through four pillars: equity management, fund investment, strategic direct investment, and state-owned asset supervision. It serves as the exclusive bridge for commercializing CAS research institute technologies into strategic emerging industries such as semiconductors, new materials, biomedical devices, environmental protection, and optoelectronics.

Product overview

中国科学院控股有限公司 (Guoke Holdings/CAS Holdings) is a central-level state-owned enterprise and the first central-level operational state-owned asset management company approved by the State Council. The company operates four core business segments: equity management (股权管理), fund investment (基金投资), strategic direct investment (战略直投), and state-owned asset supervision (国资监管). With over 40 shareholder enterprises across 11 provinces and cities, the portfolio spans new generation information technology, high-end equipment manufacturing, energy conservation and environmental protection, new materials, publishing and media, life and health, technology finance, and innovation services. Key products include dry vacuum pumps for semiconductor manufacturing (干式真空泵), BNCT medical equipment (BNCT硼中子俘获治疗设备), AI science and technology innovation solutions (AI科创团解决方案), smart power plant systems (智慧电厂系统), and flue gas purification technologies. The company leverages its unique '懂科熟科' (understanding science and technology) advantage to drive technological achievement transfer and industrial innovation.

Differentiator

Problem solved

Functional benefit

Products and services

• Equity Management (股权管理) Equity management services for shareholder enterprises following modern enterprise systems, including equity administration, industrial integration, asset restructuring, and strategic supervision. Promotes shareholder socialization reform through stock system transformation and listing of investee companies.
• Fund Investment (基金投资) Private equity fund investment business leveraging the comprehensive resources of the Chinese Academy of Sciences. Invests in multiple VC/PE funds as LP and co-GP with leading domestic PE firms (Sequoia, IDG, Legend Capital, CDH, Hony, Qiming) and institutional LPs (National Social Security Fund, CDB, China Reinsurance, SDIC). Operates through four specialized PE/VC fund management subsidiaries.
• Strategic Direct Investment (战略直投) Strategic direct equity investment in strategic emerging industry projects according to CAS overall deployment and Guoke Holdings' strategic needs. Focus areas include energy conservation and environmental protection, new-generation IT, high-end equipment manufacturing, new materials, healthcare and biomedicine, and new energy. Generates capital gains through investment appreciation and exits.
• State Asset Supervision (国资监管) Supervision and management services for CAS-owned productive state assets, ensuring value preservation and appreciation of state-owned capital. Provides industry analysis, policy consulting, talent training, achievement transfer, and investment introduction services to CAS-affiliated institutions. Delivered through a dedicated supervision platform covering 51 listed companies and multiple unlisted portfolio entities.

Quantifiable outcome

• Zhongke Yi's dry vacuum pumps are the only Chinese product achieving batch application across all semiconductor process scenarios (clean, medium, demanding), breaking decades of Western/Japanese monopoly in this chokepoint equipment category.
• +4 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability9 records

Feature6 records

Partnerships

13 partnerships are on record, tiered core, major and minor.

• Beijing Open Source Chip Research Institute (北京开源芯片研究院)coreStrategic or Co-development Partner · 8 July 2026国科控股党委中心组 conducted a joint study session at the Beijing Open Source Chip Research Institute, exploring RISC-V industry incubation and ecosystem development. Discussions focused on integrating into the RISC-V ecosystem, opening application scenarios, promoting achievement transformation, and strengthening fund investment. Led by 包云岗, Secretary General of China Open Instruction Set Alliance.
• China Association for Public Companies — Commercial Aerospace & Low-Altitude Economy Committee (中国上市公司协会商业航天与低空经济专委会)majorStrategic or Co-development Partner · 2 July 2026Guoke Innovation participated in establishing this committee with 93 listed and pre-listed company members. Guoke Innovation's 常务副总经理蒋磊 was appointed Executive Vice Chairman, with the mandate to bridge technology innovation with industrial innovation and promote achievement transfer in aerospace and low-altitude economy sectors.
• China Changke (北京中科创嘉人力资源咨询有限公司)minorStrategic or Co-development Partner · 1 January 2026Subsidiary providing headhunting, headcount management, and HR services within the 国科控股 ecosystem. A subsidiary of 国科控股.
• Chinese Academy of Sciences Institutes (中国科学院各研究所)coreStrategic or Co-development Partner · 1 September 2025Guoke Holdings serves as the bridge between CAS research institutes and industrial applications. Partners include Shanghai Institute of Silicate (PVE), Lanzhou Institute of Chemical Physics (PVE), Suzhou Institute of Biomedical Engineering (medical devices), Institute of Chemistry (fiber materials), Institute of Metal Research (materials), and others for achievement transformation.
• Guangzhou Institute of Energy Conversion (中国科学院广州能源研究所)majorStrategic or Co-development Partner · 1 September 2025Zhongke Environment established an innovation consortium with 广州能源所 to jointly develop technologies for organic waste-to-biogas and biomethane applications, including potential rocket fuel research.
• Commercial Aerospace Leading Enterprises (商业航天领军企业)majorStrategic or Co-development Partner · 1 January 2025Zhongke Environment is collaborating with domestic commercial aerospace leading enterprises to explore using biogas-produced biomethane as liquid oxygen methane rocket fuel source, representing cross-sector innovation combining environmental protection with aerospace.
• China Pacific Insurance (太平洋保险)majorStrategic or Co-development Partner · 1 January 2025Guoke New Materials partnered with Pacific Insurance to jointly provide risk reduction service solutions and pilot insurance. This three-party cooperation model — R&D team/project company applies for insurance, Guoke New Materials provides risk assessment and process guidance, and Pacific Insurance provides coverage — enables insurable risk identification for pilot projects.
• Shaanxi Optoelectronics Pioneer Academy (陕西光电子先导院)majorOthers · 1 January 2024The 'Photon Integration Industry Pilot Platform' was named the only photon integration class platform in the first batch of national-level manufacturing pilot platforms. It has incubated Tangjing Quantum (唐晶量子) and Lide Infrared (立德红外), leading the '1+2+N' photon industry cluster.
• Suzhou Medical Engineering Institute (苏州医工所)majorStrategic or Co-development Partner · 1 January 2024CAS Suzhou Institute of Biomedical Engineering and Technology, which has successfully incubated 58 medical device project companies with registered capital of 930 million RMB and attracted 540 million RMB in social investment. Its High-end Medical Device Pilot Platform was listed among MIIT's first key national pilot platforms.
• National Advanced Functional Fiber Innovation Center (国家先进功能纤维创新中心)majorStrategic or Co-development Partner · 1 January 2024Led by Shenghong Group, it is China's first national manufacturing innovation center initiated by a private enterprise. 国科控股 ecosystem benefits from this platform's carbon capture fiber and high-performance fiber R&D.
• Guoke New Materials (国科新材料技术有限公司)coreStrategic or Co-development Partner · 1 January 2024Wholly-owned subsidiary of 国科控股 established in April 2018, focused on small-test technology cooperation, pilot platform services, and industrial chain technology services for new materials. Works with CAS institutes including Lanzhou Institute of Chemical Physics on PVE refrigerant oil breakthrough. Has pioneered 'insurance + service + loan + investment' linkage model with Pacific Insurance, CITIC Bank, and CCB.
• China Institute of Atomic Energy / Spallation Neutron Source (中国科学院高能物理研究所 / 散裂中子源科学中心)coreStrategic or Co-development Partner · 1 January 2024BNCT technology originated from the China Spallation Neutron Source (国之重器). 国科中子 partnered with Hainan Puli Pharmaceutical, China Institute of Atomic Energy, Spallation Neutron Source Science Center, and Southern Medical University 10th Affiliated Hospital for BNCT clinical trials.
• Hainan Puli Pharmaceutical (海南普利制药股份有限公司)majorStrategic or Co-development Partner · 1 January 2024BNCT clinical trial co-development partner for boron drug injection (注射用硼[¹⁰B]法仑). Joint clinical development with 国科中子 RFQ-BNCT equipment. Preparations underway for US regulatory submission of the combined BNCT device and boron drug product.

Scale indicators8 records

Recent moves9 records

Expansion highlights6 records

Emerging players

• Legend Capital (君联资本): PE/VC firm under Legend Holdings focused on early-to-growth stage technology investments. Comparable as a co-investment partner of Guoke Holdings and operates in similar tech investment verticals, though structurally different as a PE firm rather than holding company.

Broad incumbents

• China Investment Corporation (CIC): China's sovereign wealth fund managing foreign exchange reserves. Comparable as a large state-owned investment vehicle, but operates at much larger scale internationally rather than focusing on domestic technology commercialization.
• State Development & Investment Corporation (SDIC): State-owned investment holding company with diversified portfolio across industries. Comparable as a major Chinese state investment platform, though SDIC is more focused on infrastructure and traditional industries.

Regional players

• Shanghai Industrial Investment (上海实业控股): Shanghai municipal government-affiliated investment holding company. Comparable as a Chinese state-affiliated holding entity investing across strategic sectors, though with regional Shanghai focus rather than national technology commercialization mission.

Direct peers

• Legend Holdings (联想控股): Chinese holding company with diversified portfolio across technology and financial services. Comparable because it operates a similar diversified holding model with multiple listed subsidiaries, though Legend's roots are in computing (Lenovo) rather than scientific research commercialization.
• China Reform Holdings Corporation (中国国新控股): State-owned holding company under SASAC that participates in state-owned enterprise reform and strategic emerging industry investment. Comparable as a fellow SOE holding platform focused on restructuring and incubating strategic industries.
• Tsinghua Holdings (清华控股): University-affiliated holding company of Tsinghua University focused on commercializing academic research. Directly comparable as a Chinese university SOE holding entity that invests in and manages technology spinoffs across strategic emerging sectors.

Others

• China International Capital Corporation (CICC): China's leading investment bank with significant state-linked ownership. Comparable as a state-backed Chinese capital markets institution involved in advising on CAS-related IPOs and portfolio company transactions.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat7 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/%E4%B8%AD%E5%9B%BD%E7%A7%91%E5%AD%A6%E9%99%A2%E6%8E%A7%E8%82%A1%E6%9C%89%E9%99%90%E5%85%AC%E5%8F%B8

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries34 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 中国科学院控股有限公司