Core Viewpoint - Shenzhen Dapu Microelectronics Co., Ltd. (Dapu Micro) has officially submitted its IPO application to the Shenzhen Stock Exchange, focusing on enterprise-level SSD products for data centers, showcasing its self-developed capabilities in control chips, firmware algorithms, and modules [1][3]. Group 1: Company Overview - Dapu Micro is a leading provider of semiconductor storage products in China, specializing in the research and sales of enterprise-level SSDs, with a cumulative shipment of over 3,500 PB and over 70% of shipments featuring self-developed control chips [1][2]. - The company ranks fourth in the domestic enterprise-level SSD market with a market share of 6.4%, while international manufacturers still dominate the market [1][2]. Group 2: Client Base and Market Position - Dapu Micro's client base includes major internet companies such as ByteDance, Tencent, Alibaba, JD.com, and Baidu, as well as server manufacturers and telecom operators like China Telecom, China Mobile, and China Unicom [2]. - The company has begun supplying enterprise-level SSDs to overseas clients, including Google, and has passed tests from leading global AI companies, indicating a strong customer resource advantage [2]. Group 3: Financial Performance - From 2022 to 2024, Dapu Micro reported revenues of 557 million yuan, 519 million yuan, and 962 million yuan, with corresponding net losses of 534 million yuan, 617 million yuan, and 191 million yuan [2]. - The company anticipates an 88.73% year-on-year growth in main business revenue for 2024, with a positive gross margin and a significant reduction in losses, projecting a potential turnaround to profitability by 2026 [2]. Group 4: IPO Details - Dapu Micro aims to raise 1.878 billion yuan through its IPO to fund the development of next-generation control chips and enterprise-level SSDs, establish a mass production testing base, and supplement working capital [3]. - The company meets the new listing standards for unprofitable innovative enterprises on the ChiNext board, with a projected market value of no less than 5 billion yuan and recent annual revenue exceeding 500 million yuan [3]. Group 5: Future Development Strategy - Dapu Micro plans to continue its focus on core technologies in the enterprise-level SSD field, enhancing its industry position and market visibility through integrated development of control chips, firmware algorithms, and module design [4]. - The company aims to expand its product matrix by developing new-generation enterprise-level SSDs and intelligent network cards, thereby enriching its product structure and extending its platform [4].
【IPO一线】大普微创业板IPO获受理 未盈利上市新规首单落地