Venture(US:VEMLY) Quan Jing Wang·2025-06-04 13:47Core Viewpoint - Chengdu Hongming Electronics Co., Ltd. has received approval for its initial public offering (IPO) on the ChiNext board, marking a significant step for the company in the electronic components manufacturing industry [1][3]. Company Overview - Chengdu Hongming Electronics, with over 60 years of experience, is a well-established manufacturer of electronic components, originally founded as a state-owned enterprise [3]. - The company specializes in multilayer ceramic capacitors (MLCC), which are essential components in various high-tech applications, including 5G communication, smart vehicles, artificial intelligence, and aerospace [3]. - Chengdu Hongming Electronics has a strong technological foundation and has been recognized for its contributions to national key projects in defense and aerospace [3]. IPO Fundraising and Projects - The company plans to use the funds raised from the IPO for several key projects, including: - High-energy pulse capacitor industrialization project with a total investment of 509.43 million yuan [5]. - New electronic components and integrated circuit production projects (Phase I/II) with a total investment of 812.16 million yuan [5]. - Precision component capability enhancement project with an investment of 99.99 million yuan [5]. - The total planned investment for all projects is approximately 2.37 billion yuan, with 1.95 billion yuan expected to be raised through the IPO [5]. Strategic Vision - The company aims to position itself as a leader in electronic components manufacturing, focusing on domestic substitution and military-civilian integration [4][6]. - Chengdu Hongming Electronics is committed to becoming a globally competitive manufacturer of electronic components, with a mission to support national defense and contribute to the electronic information industry [6].