Group 1 - A and H shares welcomed 9 new IPOs on the second-to-last trading day of 2025, with significant market activity [1] - In the A-share market, three companies listed: Shuangxin Environmental Protection, Yufan Technology, and Qiangyi Co., with notable price increases and market capitalizations [1] - Shuangxin Environmental Protection's stock price rose by 202% from its issue price, reaching a market cap of 23.75 billion yuan [1] - Yufan Technology's stock price increased by 150%, achieving a market cap of 5.966 billion yuan [1] - Qiangyi Co. saw a 173.84% increase in stock price, with a market cap of 30.19 billion yuan [1] Group 2 - The listing of Qiangyi Co. marked the 600th company on the STAR Market, with total IPO fundraising exceeding 955.7 billion yuan [3] - The total fundraising from STAR Market companies, including refinancing, surpassed 1.1 trillion yuan [3] - In the Hong Kong market, 6 new stocks were listed, completing the year's total of 117 IPOs, raising approximately 285.69 billion HKD [3] - Notable performances included AI pharmaceutical leader Insilico Medicine, which saw a stock price increase of 42.54% [3] - Other new listings in Hong Kong included companies in various sectors, contributing to a diverse market landscape [3]

Core Viewpoint - Qiangyi Semiconductor (Suzhou) Co., Ltd. has successfully listed on the STAR Market, becoming the only domestic company to enter the global top ten semiconductor probe card manufacturers, with a significant stock price increase of 176.15% since its IPO [2][3]. Company Overview - Founded in 2015, Qiangyi Semiconductor is a high-tech enterprise focused on the research, design, production, and sales of probe cards, which are essential hardware for wafer testing in semiconductor design and manufacturing [2][6]. - The company has developed proprietary MEMS probe manufacturing technology, enabling it to mass-produce and sell MEMS probe cards, thus breaking the monopoly of foreign manufacturers in this field [2][6]. Market Position - According to Yole data, Qiangyi Semiconductor ranked ninth in the global semiconductor probe card industry in 2023 and sixth in 2024, making it the only domestic company to achieve a position in the top ten in recent years [4][6]. - The company serves a diverse range of clients, including major chip design firms and wafer foundries, indicating a strong market presence and customer base [4][5]. Future Outlook - Qiangyi Semiconductor plans to continue advancing its probe card technology, enhancing product diversity, performance, and quality [6]. - Novartis Capital, which invested in Qiangyi Semiconductor, aims to leverage its industry resources to support the company's product development and process optimization [6].

2025.12. 30 本文字数：1869，阅读时长大约3分钟 作者 | 第一财经 黄思瑜 从首批25家拓荒者，到如今600家公司集结，科创板的融资规模也不断增加。截至12月30日，IPO募 集资金9557亿元，再融资募集资金2139亿元，合计超1.1万亿元。 清华大学国家金融研究院院长、清华大学五道口金融学院副院长田轩对第一财经称，600家企业集聚 科创板，不仅能形成显著的产业集群效应，更能通过上下游协同创新加速科技成果转化，形成相互促 进、共同发展的良好生态。同时，吸引更多的资本、人才等要素向硬科技产业集中，激励更多企业投 身于核心技术研发和创新。 研发投入持续加码 经过六年半的发展，科创板已成为中国硬科技企业上市首选地。 600家上市公司主要分布于新一代信息技术、生物医药、高端装备、新能源、新材料、节能环保等高 新技术产业和战略性新兴产业。其中，有389家公司入选国家级专精特新"小巨人"企业名录，65家公 司被评为制造业"单项冠军"示范企业，49家公司主营产品被评为制造业"单项冠军"产品，合计（去重 后418家）占板块公司总数的70%。 在多元包容的发行上市条件之下，科创板已支持60家未盈利企业、9家特 ...

Core Viewpoint - The successful IPO of Qiangyi Semiconductor marks a significant milestone for the Sci-Tech Innovation Board, highlighting the potential of domestic semiconductor companies and the investment opportunities in the hard technology sector [1][2]. Company Overview - Qiangyi Semiconductor officially listed on the Sci-Tech Innovation Board, becoming the first company in the semiconductor probe card sector and the 600th listed company on the board [1]. - The IPO price was set at 85.09 yuan per share, with the stock opening over 200% higher, resulting in a market capitalization exceeding 33 billion yuan [1]. Investment Highlights - Fengnian Capital, the largest institutional investor in Qiangyi Semiconductor, achieved significant returns, with the current stock price reflecting nearly three times the size of its entire fund [1]. - This marks Fengnian Capital's third successful IPO in the A-share market this year, with a notable hit rate among the approximately 50 companies listed on the Sci-Tech Innovation Board and the Growth Enterprise Market [1]. Industry Context - The semiconductor probe card market has been historically dominated by foreign companies, with domestic players struggling to gain market share [3][4]. - Qiangyi Semiconductor has developed its own 2D MEMS probe cards, achieving mass production and expanding into 3D MEMS vertical probe cards, thus contributing to the domestic semiconductor supply chain [4][5]. Financial Performance - Qiangyi Semiconductor's revenue for 2022, 2023, and 2024 is projected to be 254 million yuan, 354 million yuan, and 641 million yuan, respectively, with a compound annual growth rate of 58.85% [11]. - The net profit for the same years is expected to be 15.62 million yuan, 18.66 million yuan, and 233 million yuan, with a forecasted profit of 35.5 million to 42 million yuan for 2025, indicating a year-on-year growth of 52.30% to 80.18% [11]. Market Potential - The global semiconductor probe card market is projected to reach 2.651 billion USD in 2024 and grow to 3.972 billion USD by 2029, indicating substantial growth potential for Qiangyi Semiconductor [12]. - The company is expected to rank 9th and 6th globally in the semiconductor probe card industry in 2023 and 2024, respectively, marking it as the only domestic company to enter the top ten [11]. Investment Strategy - Fengnian Capital's early investment in Qiangyi Semiconductor is seen as a benchmark case in the hard technology investment sector, demonstrating the importance of timely and informed investment decisions [6][8]. - The firm has consistently supported Qiangyi Semiconductor through multiple funding rounds, enhancing its growth trajectory and market presence [11][14].

今天（12月30日） 苏州工业园区科技领军人才企业 本次发行股票数量为3239万股，募集资金总额约27.56亿元，将主要用于南通探针卡研发及生产项目、苏州总部及研发中心建设项目。 强一股份 强一半导体(苏州)股份有限公司（以下简称"强一股份"）成立于2015年，总部位于苏州工业园区，是一家专注于服务半导体设计与制造的国家高新技术企 业，聚焦晶圆测试核心硬件探针卡的研发、设计、生产与销售，目前已获评中国潜在独角兽企业、 江苏省潜在独角兽企业、 苏州市独角兽培育企业和 园 区科技领军人才企业等荣誉。 强一半导体(苏州)股份有限公司 正式在上交所科创板挂牌上市 将进一步促进园区 半导体产业链的完善和协同发展 审核：叶芳 强一股份作为中国大陆第一家具备MEMS探针卡技术研发能力的公司，打破了境外厂商在MEMS探针卡领域的垄断。目前，公司凭借扎实的技术积累和可 靠的规模化交付能力，已与境内超过370家半导体企业建立合作关系，客户涵盖芯片设计、晶圆代工、封装测试等全产业链环节。产品广泛应用于CPU、 GPU、SoC、射频芯片、存储芯片等芯片的测试环节。 ...

Group 1 - 29 companies have announced their annual performance forecasts, with 23 companies expecting profit increases, accounting for 79.31% of the total [1] - Among the companies expecting profit increases, one company anticipates a net profit growth exceeding 100%, while two companies expect growth between 50% and 100% [1] - Bai Ao Sai Tu is projected to have the highest net profit growth, with a median increase of 303.57%, followed by N Qiang Yi and Mu Xi Co., with median increases of 66.24% and 54.22% respectively [1] Group 2 - The average decline for companies expected to double their profits this year is 21.20%, underperforming compared to the Shanghai Composite Index [2] - The list of companies with expected explosive profit growth includes Bai Ao Sai Tu, N Qiang Yi, and Mu Xi Co., with respective median net profit growths of 303.57%, 66.24%, and 54.22% [2] - Bai Ao Sai Tu's latest closing price is 51.85, while Mu Xi Co. has a closing price of 615.10, with Mu Xi Co. experiencing a decline of 25.88% this year [2]

Group 1 - The core point of the article is that N Qiang Yi has been listed today with an opening price of 265.60 yuan, representing an increase of 212.14% from its issue price [2] - The company specializes in the research, design, production, and sales of probe cards [2] - The total number of shares issued by the company is 32.39 million, with an online issuance of 10.36 million shares at an issue price of 85.09 yuan per share [2] - The company's issue price corresponds to a price-to-earnings (P/E) ratio of 48.55, which is lower than the industry average P/E ratio of 57.92 [2] - The effective subscription number for the online issuance was 6.68 million households, with a final winning rate of 0.02295383% [2] - The funds raised from the initial public offering (IPO) amount to 2.756 billion yuan, primarily allocated to the development and production project of probe cards in Nantong and the construction of the headquarters and R&D center in Suzhou [2] Group 2 - Recent performance of newly listed stocks shows significant first-day gains, with N Qiang Yi leading at 212.14% [2] - Other notable first-day performances include N Shuangxin with a 186.13% increase and N Yufan with a 169.18% increase [2] - The table of recent IPOs indicates a trend of high first-day returns across various industries, particularly in electronics and pharmaceuticals [2][3]

Group 1 - Three new stocks were listed on December 30, with significant initial gains: N Shuangxin Environmental Protection rose nearly 240%, N Qiangyi shares increased over 200%, and N Yufan Technology climbed more than 170% [1] Group 2 - N Shuangxin Environmental Protection (001369) had a trading price of 23.12, with a market capitalization of 26.5 billion and a price-to-earnings ratio of 50.1. The stock experienced a change of 237.52% and a trading volume of 5.36 million shares [2] - N Qiangyi (688809) was trading at 259.00, with a market capitalization of 33.6 billion and a price-to-earnings ratio of 95.4. The stock saw an increase of 204.38% and a trading volume of 6.25 million shares [3] - N Yufan Technology (001396) had a trading price of 60.59, with a market capitalization of 6.5 billion and a price-to-earnings ratio of 48.8. The stock rose by 171.83% with a trading volume of 1.98 million shares [4]

| < ロ | | N强-(688809) | | | | | --- | --- | --- | --- | --- | --- | | | | 交易中 12-30 09:32:45 融 科 | | | | | | | 259.00 额 6.25亿 股本 1.30亿 市盈™ | 95.4 | 万得 | | | | | 173.91 204.38% 换 9.65% 市值 336亿 市净 | 8.59 | 器■ | | | 分时 | 五日 | 日K 周K 月K | 白ミ | | | | 气加 | | 均价:265.98 | 盘口 资金 | | | | 348.00 | 308.98% 卖五 259.99 | | | | 5 | | | SE 70 | | | 259.98 | 20 | | | siz — | | | 259.97 | 67 | | | | | | 259.58 | 38 | | 85.09 | | | 0 00% 卖一 259.50 | | 5 | | | | | | 259.00 | 12 | | | | | | 258.91 | 5 | | | ਡੀਓ ਸ | | | 258.90 | 3 ...

北京商报讯（记者 马换换 王蔓蕾）12月30日，强一股份（688809）、双欣环保（001369）、誉帆科技 （001396）等3只新股上市，开盘分别大涨212.14%、186.13%、169.18%，其中强一股份发行价较高， 公司开盘跻身百元股行列，开于265.6元/股。 据了解，强一股份、双欣环保、誉帆科技分别登陆科创板、主板、主板上市。 ...