据悉，西安奕材、禾元生物、必贝特系科创成长层首批上市企业。其中，西安奕材专注于12英寸硅片的 研发、生产和销售。 10月27日，证监会主席吴清在2025金融街论坛年会开幕式上也提到，今年6月，证监会宣布了科创 板"1+6"政策举措。经过各方努力，10月28日科创板科创成长层将迎来首批新注册企业上市，试点引入 资深专业机构投资者、预先审阅等已经实施，改革效应正加快显现。 除了上述3股之外，泰凯英也在10月28日登陆北交所上市，单日4股首发上市数量创年内新高。 北京商报讯（记者马换换李佳雪）10月28日，科创板科创成长层首批3只新股上市，其中西安奕材开盘 大涨361.5%，禾元生物、必贝特分别大涨202.82%、175.03%。 （文章来源：北京商报） ...

Core Viewpoint - Xi'an Yicai has successfully listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board, raising approximately 4.636 billion yuan with an initial share price of 8.62 yuan, marking it as the first unprofitable company to be listed under the new policies [1][3] Company Overview - As of the report date, Xi'an Yicai's stock price reached 28 yuan, reflecting a 224.8% increase, with a market capitalization of 113.1 billion yuan [3] - The company specializes in the research, production, and sales of 12-inch silicon wafers, ranking first in mainland China and sixth globally in terms of average monthly shipment and production capacity by the end of 2024 [3][4] - Xi'an Yicai holds the most authorized domestic and international invention patents in the 12-inch silicon wafer sector in mainland China [3][6] Industry Context - Silicon wafers are fundamental to chip manufacturing, directly impacting the competitiveness of the semiconductor supply chain, especially in the AI era, which demands enhanced data processing capabilities [4] - The 12-inch silicon wafer accounts for over 75% of the global silicon wafer shipment area in 2024, with a significant portion of global wafer production capacity focused on this size [4] - The global market for 12-inch silicon wafers is dominated by a few key players, with the top five suppliers accounting for 80% of the market share [4] Production Capacity and Strategy - The first core manufacturing base has been established in Xi'an, with the first factory reaching production capacity in 2023 and a second factory set to begin production in 2024 [5] - By the end of 2024, the company's combined production capacity is expected to reach 710,000 wafers per month, capturing approximately 7% of the global 12-inch silicon wafer capacity [5] - The company aims to meet 40% of mainland China's 12-inch silicon wafer demand by 2026, with a projected global market share exceeding 10% [5] Technological Development - Xi'an Yicai emphasizes independent technology research and intellectual property protection, having developed a comprehensive core technology system across five key processes [6] - The company has successfully produced wafers for various advanced chips, including NAND Flash and DRAM, and is actively developing next-generation high-end storage chips for AI applications [6][7] Client Base and Market Position - As of the end of 2024, the company has validated 144 clients, with a significant portion being from mainland China, and has supplied over 90 types of mass-produced chips [7][8] - The company has established itself as a leading supplier of 12-inch silicon wafers for major domestic logic foundries and storage IDM manufacturers, becoming a preferred supplier for new 12-inch wafer fabs [8]

Core Viewpoint - Xi'an Yiswei Material Technology Co., Ltd. has officially listed on the Sci-Tech Innovation Board, becoming the first unprofitable company to be approved and listed following the release of the "Science and Technology Eight Articles" [1] Company Summary - Xi'an Yiswei is recognized as the first unprofitable enterprise to successfully go public on the Sci-Tech Innovation Board after the implementation of new regulatory guidelines [1]

Group 1: Company Listings - Three companies, Bibete (688759), Heyuan Bio (688765), and Xi'an Yicai (688783), were listed on the Shanghai Stock Exchange, while Taika Ying (920020) was listed on the Beijing Stock Exchange [1] Group 2: Bibete (688759) - Bibete is a biopharmaceutical company focused on innovative drug development for major diseases such as cancer, autoimmune diseases, and metabolic diseases [2] - The actual controller of Bibete is Qian Changgeng, who holds 15.2840% of the shares directly and controls a total of 43.9582% of the shares through agreements with other shareholders [2] - The total amount raised in this issuance is 1.6002 billion yuan, with a net amount of 1.4911 billion yuan allocated for new drug research and development, a research center, and working capital [3] Group 3: Heyuan Bio (688765) - Heyuan Bio is an innovative biopharmaceutical company with a leading global plant bioreactor technology platform [4] - The actual controller is Yang Daichang, who directly holds 15.03% of the shares and controls a total of 29.25% of the voting rights before the issuance [4] - The total amount raised in this issuance is 2.5995 billion yuan, with a net amount of 2.4304 billion yuan used for the construction of an albumin industrialization base, new drug research, and working capital [5] Group 4: Xi'an Yicai (688783) - Xi'an Yicai focuses on the research, production, and sales of 12-inch silicon wafers [5] - The controlling shareholder is Beijing Yisiwei Technology Group, which holds 12.73% of the shares directly and controls 25.68% of the shares through agreements with other shareholders [5] - The total amount raised in this issuance is 4.6358 billion yuan, with a net amount of 4.5068 billion yuan allocated for the second phase of the silicon industry base project [6] Group 5: Taika Ying (920020) - Taika Ying is a company driven by technological innovation, focusing on the global tire market for mining and construction [7] - The controlling shareholder is Taika Ying Holdings, which held 72.94% of the shares before the issuance and 58.35% after the issuance [7] - The total amount raised in this issuance is 331.875 million yuan, with a net amount of 290.4395 million yuan used for tire product upgrades and innovation technology development [8]

Market Performance - On October 27, 2025, A-shares saw all three major indices rise, with the Shanghai Composite Index closing at 3996.94 points, up 1.18% [1] - The Shenzhen Component Index closed at 13489.4 points, up 1.51%, and the ChiNext Index closed at 3234.45 points, up 1.98% [1] - The total trading volume in the Shanghai and Shenzhen markets was 2.34 trillion yuan, an increase of 360 billion yuan from the previous trading day [1] - Hong Kong's stock indices also experienced gains, with the Hang Seng Index rising 1.05% to 26433.7 points and a total trading volume of 2670.77 million HKD [1] - In the U.S. market, the S&P 500 Index rose 1.59% to 5954.5 points, while the Nasdaq Composite Index increased by 1.63% to 18847.28 points [1] New Stock Listings - Xi'an Yicai, listed on the Sci-Tech Innovation Board with a stock code of 688783, had an issue price of 8.62 yuan per share and specializes in 12-inch electronic-grade silicon wafer products [3] - The company’s products are widely used in sectors such as electronic communications, new energy vehicles, and artificial intelligence [3] - Bibet, also listed on the Sci-Tech Innovation Board with a stock code of 688759, had an issue price of 17.78 yuan per share and focuses on innovative drug development [3] New Stock Subscription - Delijia, with a stock code of 603092, has an issue price of 46.68 yuan per share and a price-to-earnings ratio of 34.98 times [4] - The company specializes in the research, production, and sales of high-speed heavy-load precision gear transmission products, primarily for wind turbine applications [4] Regulatory News - The China Securities Regulatory Commission (CSRC) released 23 measures aimed at enhancing the protection of small and medium investors in the capital market [5] - These measures focus on improving investor protection during the issuance and delisting processes, creating a fair trading environment, and enhancing customer service levels [5] - The CSRC also issued a work plan to optimize the Qualified Foreign Institutional Investor (QFII) system, aiming to attract long-term foreign capital and improve the investment environment [6]

Group 1 - The article discusses the upcoming IPOs, including two new stock subscriptions and four new listings scheduled for October 28, 2025 [2][3] - The new stocks include He Yuan Bio (688765.SH), Xi'an Yicai (688783.SH), Bi Bei Te (688759.SH), and Tai Kai Ying (920020.BJ) [3][4] - The subscription price for Tai Kai Ying is set at 46.68 yuan with an issuance price-earnings ratio of 34.98 times, compared to the industry average of 44.03 times [4] Group 2 - The company specializes in the research, development, production, and sales of high-speed heavy-load precision gear transmission products, primarily for wind power generation [6] - The company has established a comprehensive business chain from design to production and maintenance services, with capabilities for products ranging from 1.5MW to 22MW [6] - Key financial data shows a projected revenue of 37.15 billion yuan for 2024, down from 44.42 billion yuan in 2023, with a net profit of 5.34 billion yuan [7] Group 3 - The company has a strong technical foundation and has built a mature technology system, enhancing product performance in terms of power density, sealing, stability, and transmission efficiency [8] - The wind power industry is supported by national policies, promoting market development despite previous subsidy cancellations [8][9] - The company faces challenges such as limited financing channels and increasing competition in a market transitioning to price-based competition [10][11] Group 4 - The company has received certifications from authoritative institutions, ensuring high-quality control and a good industry reputation [9] - The company’s future growth may be constrained by its relatively short establishment period and the mismatch between existing capacity and future development plans [11] - The company is also affected by the reliance on foreign suppliers for certain core components, such as bearings, which may impact its competitive edge [11] Group 5 - The second company mentioned focuses on providing professional technical services, including engineering cost, bidding agency, and project management [12] - Financial projections indicate a revenue increase to 3.96 billion yuan in 2024, up from 3.68 billion yuan in 2023 [13][15] - The company benefits from a strong service quality reputation and a comprehensive service offering, but faces challenges such as rising labor costs and fragmented business segments [20][21]

Core Viewpoint - Four new stocks will be listed today, setting a record for the number of new listings in a single day this year, with three of them being unprofitable companies on the Sci-Tech Innovation Board [1][3] Group 1: New Listings - The new stocks listed today include Xi'an Yicai, Heyuan Bio, Bibet, and Taikai Ying, marking the first time in five years that three new Sci-Tech Innovation Board stocks are listed on the same day [1] - Xi'an Yicai raised a total of 4.636 billion yuan, making it the second-largest IPO this year [6] - The three new Sci-Tech Innovation Board stocks will be the first to enter the growth tier since its establishment [3] Group 2: Performance of Newly Listed Stocks - The average first-day increase for newly listed Sci-Tech Innovation Board stocks this year is over 246%, with a 100% probability of rising on the first day [4] - Notable first-day performances include Sai Fen Technology, which saw a 379.17% increase [5] Group 3: Company Insights - Xi'an Yicai specializes in the research, production, and sales of 12-inch silicon wafers, ranking first in mainland China and sixth globally in terms of monthly shipment volume and production capacity [6][7] - The company aims to exceed a 10% global market share by 2026, supported by significant investments from major funds [7] - Financial indicators for Xi'an Yicai are improving, with revenue projected to grow from 1.055 billion yuan in 2022 to 2.121 billion yuan in 2024, reflecting a compound annual growth rate of 41.83% [9]

New IPOs and Listings - Two new stocks are available for subscription: Delijia (603092.SH) on the Shanghai Stock Exchange and Zhongcheng Consulting (920003.BJ) on the Beijing Stock Exchange [1] - Four stocks are listed today: Bibete (688759.SH), Xi'an Yicai (688783.SH), Heyuan Bio (688765.SH), and Taikaiying (920020.BJ) [1] Delijia (603092.SH) - Delijia specializes in the R&D, production, and sales of high-speed heavy-load precision gear transmission products, primarily for wind power generation [2][7] - The IPO price is 46.68 CNY per share, with an institutional offering price of 47.68 CNY, and a market capitalization of 16.8 billion CNY [5] - The company has a projected market share of 10.36% globally and 16.22% in China for wind power transmission equipment by 2024, ranking third globally and second in China [7] - Delijia's revenue from onshore wind power is expected to be 36.25 billion CNY in 2024, accounting for 98.57% of its total revenue [7] Zhongcheng Consulting (920003.BJ) - Zhongcheng Consulting focuses on engineering consulting services and has ranked among the top five in Jiangsu Province for engineering cost consulting revenue from 2021 to 2024 [8][11] - The IPO price is 14.27 CNY per share, with a market capitalization of 1.4 billion CNY [11] - The company plans to invest 1.23 billion CNY in building an engineering consulting service network and 0.77 billion CNY in R&D and information technology [11] Taikaiying (920020.BJ) - Taikaiying is the first company in the mining and construction tire segment to be listed on the Beijing Stock Exchange, recognized as the "first tire stock" on the exchange [15][19] - The IPO price is 7.50 CNY per share, with a market capitalization of 750 million CNY [18] - The company holds the number one market share in the domestic market for large-tonnage crane tires [19] Xi'an Yicai (688783.SH) - Xi'an Yicai is a leading manufacturer of 12-inch silicon wafers, ranking first in China and sixth globally in terms of production capacity [21][22] - The IPO price is 8.62 CNY per share, with a market capitalization of 34.81 billion CNY [21] - The company has a projected capacity of 120,000 wafers per month by 2026, which will meet 40% of the demand in mainland China [22] Heyuan Bio (688765.SH) - Heyuan Bio focuses on the research and development of plant-derived recombinant protein expression technology and has developed several pharmaceutical products [33][38] - The IPO price is 29.06 CNY per share, with a market capitalization of 10.39 billion CNY [35] - The company plans to invest 19.09 billion CNY in the construction of a plant for recombinant human serum albumin and 7.94 billion CNY in new drug development [37]

在国内市场，公司实现了国内一线晶圆代工厂和存储IDM厂大多数主流量产工艺平台的正片供货，已成 为国内主流存储IDM厂商全球12英寸硅片厂商中供货量第一或第二大的供应商，同时也是国内一线逻辑 晶圆代工厂中国大陆12英寸硅片供应商中供货量第一的供应商及目前国内新建12英寸晶圆厂的首选硅片 供应商之一。 来源：环球网 【环球网财经综合报道】10月22日，西安奕材（688783.SH）正式公布发行结果。本次发行价格为8.62 元/股，发行数量为53,780.00万股，全部为公开发行新股，无老股转让，募集资金总额为46.36亿元，将 全部用于西安奕斯伟硅产业基地二期项目。 作为国内12英寸硅片领域头部企业，西安奕材此次上市不仅标志着资本市场半导体材料领域再添新星， 更以"科创板八条"发布后受理并通过审核的首家未盈利企业的身份，为硬科技企业融资树立了新标杆。 西安奕材专注于12英寸硅片的研发、生产和销售，2024年月均出货量和产能规模全球占比约为6%和 7%。凭借领先的技术实力，公司已从全球12英寸硅片市场的"新进入者"快速成长为"赶超者"，在国内 外市场均建立起竞争优势。 本次上市，西安奕材募集资金将全部用于保障第二工 ...

西安奕材公告称，公司发行的股票将于2025年10月28日在科创板上市，股票代码688783。本次发行股票 数量5.38亿股，发行后总股本40.38亿股。截至公告披露日，公司尚未盈利，自上市之日起将纳入科创成 长层。上市初期流通股数量为1.65亿股，占比4.08%，存在流动性不足风险。本次发行价格8.62元/股， 对应2024年摊薄后市销率为16.41倍，低于A股可比公司，但仍有股价下跌风险。此外，科创板股票上市 首日即可作为融资融券标的，有价格波动等风险。 ...