# MAGIC STAR

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/magic-star

- Industry: Materials
- Headquarters: Ningbo, China
- Latest round: Series C (Nov 26, 2024)
- Investors on record: 1

## About

Based in Ningbo, China and founded in 2019, Ningbo Huancaixing Technology Co., Ltd., dba MAGIC STAR, is a metal mask manufacturer that focuses on the research and development of fine metal masks (FMM) for AMOLED (Active-Matrix Organic Light Emitting Diode) displays. The chairman of the company, Zongyi Xu graduated from the National Cheng Kung University and has worked in TCL China Star Optoelectronics Technology Co., Ltd. and Visionox.

In July 2026, MAGIC STAR closed a round of pre-IPO funding from Hefei State-Owned Assets Holding.

MAGIC STAR mainly provides FMM (Fine Metal Mask) and components. Products include FMM, metal masks for LCD, metal masks for OLED, and mask components. FMM is the core material for OLED evaporation. Mask components include frames, fixtures, etc., which are used for the installation and use of masks. Magic Star also developed Invar36 (iron-nickel alloy) material. Products can be used in the fields such as mobile phones, laptops, and automotive displays.

The company generates revenue by providing fine metal mask and components, such as metal masks, frames, and fixtures.

The pre-IPO funding from Hefei State-Owned Assets Holding in July 2026 is expected to help the company consolidate its position in the domestic FMM market, accelerate the process of domestic substitution, precisely address weaknesses in key upstream materials of the new display industry, and enhance the resilience and security of the industry chain and supply chain.

## Funding rounds

- Series C, Nov 26, 2024 — CDF-Capital

## Investors

- CDF-Capital (https://capitalatlas.ai/funds/cdf-capital) — Series C