多地国资加持，这家半导体硅片企业冲刺科创板

Core Viewpoint - Shanghai ChaoSilicon Semiconductor Co., Ltd. has recently had its IPO application accepted by the Sci-Tech Innovation Board, despite being an unprofitable semiconductor silicon wafer company, indicating strong investor interest and potential growth in the semiconductor sector [1][9]. Company Overview - Shanghai ChaoSilicon focuses on the research, production, and sales of 300mm and 200mm semiconductor silicon wafers, which are in high demand globally [1]. - The company has developed into a well-known international semiconductor silicon wafer manufacturer and has established partnerships with 18 of the top 20 global integrated circuit companies [7][8]. Financial Information - The company plans to raise nearly 5 billion yuan through its IPO [1]. - Revenue projections for 2022 to 2024 are approximately 921 million yuan, 928 million yuan, and 1.327 billion yuan, respectively, with corresponding net losses of about 803 million yuan, 1.044 billion yuan, and 1.299 billion yuan [9][10]. - As of the end of 2024, total assets are projected to be approximately 1.549 billion yuan, with a debt-to-asset ratio of 52.33% [10]. Market Position - The global semiconductor silicon wafer market is highly concentrated, with major players from Japan, Germany, South Korea, and Taiwan dominating the market [4]. - Shanghai ChaoSilicon is one of the few companies in mainland China capable of producing large silicon wafers, having overcome significant technological barriers [5]. Investment and Financing - The company has successfully completed multiple rounds of financing, with significant investments from various funds and local state-owned enterprises [11]. - Notable investors include Shanghai Integrated Circuit Industry Investment Fund and Chongqing Industry Investment Fund, reflecting strong confidence in the company's growth potential [11]. Production Capacity - Shanghai ChaoSilicon has a designed production capacity of 700,000 pieces per month for 300mm wafers and 400,000 pieces per month for 200mm wafers [4]. - The company has achieved mass production of its products, which are used in advanced process chips, including NAND Flash and DRAM [4]. Shareholder Structure - The largest single shareholder, Shanghai Yanzhi, holds 10.60% of the shares, which will be diluted to 9.01% post-IPO [12]. - The company has implemented a dual-class share structure to maintain control by the founding team, with special voting rights for certain shares [13].