7.9亿，半导体设备企业芯密科技科创板IPO

Core Viewpoint - Chipmi Technology is positioned as a leading player in the semiconductor-grade perfluoroether rubber sealing ring market in China, with significant growth in revenue and profitability projected through 2024 [1][2]. Company Overview - Chipmi Technology's main product is semiconductor-grade perfluoroether rubber sealing rings, which are critical components in semiconductor manufacturing equipment [5]. - The company has achieved the third-largest sales scale in the Chinese market for semiconductor-grade perfluoroether rubber sealing rings for two consecutive years, ranking first among domestic companies [1]. Financial Performance - Revenue and net profit have shown a consistent upward trend from 2022 to 2024, with projected revenues of 0.42 billion yuan, 1.3 billion yuan, and 2.08 billion yuan, and net profits of 1.73 million yuan, 36.39 million yuan, and 68.94 million yuan respectively [2]. - The gross margin for perfluoroether rubber sealing rings has improved significantly, reaching 61.61% in 2024, up from 39.93% in 2022, attributed to increased capacity utilization and lower raw material costs [2]. Market Position - Chipmi Technology's gross margin for its main business is notably higher than comparable companies, with an average gross margin of 62.16% in 2024 compared to 30%-40% for its peers [2][4]. - The company has a high customer concentration, with the top five customers accounting for 79% of revenue in 2022 and 77% in 2024 [6]. Supply Chain and Procurement - The primary raw material, perfluoroether rubber, is mainly imported, with the top five suppliers accounting for over 88% of total procurement costs from 2022 to 2024 [6]. - The domestic production rate for semiconductor-grade perfluoroether rubber sealing rings is less than 10%, indicating significant room for growth in local manufacturing [6]. Funding and Investment - Chipmi Technology plans to raise 785 million yuan through its IPO to enhance operational capabilities, R&D levels, and product variety, aiming to increase market share in the sealing ring industry [6]. - The company has attracted strategic investments from notable firms, including a 30 million yuan investment from Zhongwei Company and Tuojing Technology in May 2023 [8].