高科技橡企，冲刺IPO

Core Viewpoint - Shanghai Chipmi Technology Co., Ltd. has entered the inquiry stage for its IPO on the Sci-Tech Innovation Board, aiming to raise approximately 785 million yuan for the development and industrialization of semiconductor-grade perfluoroether rubber sealing components and the construction of a research and development center [1][3]. Company Overview - Chipmi Technology was established in January 2020 in Shanghai Lingang and focuses on the technological research and application innovation of perfluoroether rubber, positioning itself as a leading enterprise in semiconductor-grade perfluoroether rubber sealing components in China [3]. - In 2024, Chipmi Technology was recognized as a "National Potential Unicorn Enterprise" and a "National Specialized and Innovative 'Little Giant' Enterprise" [3]. - The company ranked third in sales of semiconductor-grade perfluoroether rubber sealing rings in the Chinese market for two consecutive years (2023 and 2024), and first among domestic companies [3]. Market Context - The company aims to achieve a self-controllable full industry chain through its IPO, accelerating the process of domestic substitution and ensuring the security of supply for key components in semiconductor equipment [3]. - In the semiconductor manufacturing process, many critical steps require completion in a vacuum reaction chamber, where semiconductor-grade perfluoroether rubber sealing rings are essential for creating the vacuum environment [3]. - The technology barrier for perfluoroether rubber sealing rings is high, with foreign companies holding a dominant and monopolistic position in the domestic market. According to Frost & Sullivan, the domestic production rate of semiconductor-grade perfluoroether rubber sealing rings is expected to be less than 10% in 2024 [3]. Production Capacity - Chipmi Technology achieved mass production just seven months after its establishment, becoming the first high-tech enterprise in China to realize the domestic production of semiconductor-grade perfluoroether sealing products [3]. - On June 28, 2023, the third phase of Chipmi Technology's project was put into production in the Lingang Industrial Zone, increasing its capacity by approximately 60% to produce 1 million sealing rings of various sizes, meeting about 70% of the domestic semiconductor industry's demand for perfluoro sealing components [3].