恒坤新材IPO上会被暂缓审议 保荐机构为中信建投

Core Viewpoint - The Shanghai Stock Exchange's Listing Review Committee has postponed the initial public offering (IPO) review of Xiamen Hengkang New Materials Technology Co., Ltd. (Hengkang New Materials) [1] Group 1: Company Overview - Hengkang New Materials focuses on the research and industrial application of key materials in the integrated circuit field, being one of the few domestic companies capable of developing and mass-producing key materials for 12-inch integrated circuit wafers [1] - The company primarily engages in the research, production, and sales of photoresist materials and precursor materials [1] Group 2: Shareholding Structure - As of the signing date of the prospectus, Yi Rongkun directly holds 19.52% of the voting rights in the company and indirectly controls an additional 5.94% through various entities, totaling 40.87% of the voting rights [1] Group 3: IPO Details - Hengkang New Materials plans to publicly issue no more than 67,397,940 shares, which represents up to 15% of the total share capital after issuance, with a minimum of 10% [1] - The company has granted the lead underwriter an over-allotment option of up to 15% of the aforementioned new shares [1] Group 4: Fundraising Purpose - The company aims to raise ¥1,006.695 million (approximately $100.67 million) for the second phase of the integrated circuit precursor project and the advanced materials project for integrated circuits [2] Group 5: Project Investment Breakdown - The total investment for the second phase of the integrated circuit precursor project is ¥519.1133 million, with ¥399.8022 million planned to be funded from the raised capital [3] - The advanced materials project for integrated circuits has a total investment of ¥909.1674 million, with ¥606.8928 million to be funded from the raised capital [3] - The combined total investment for both projects is ¥1,428.2807 million, with ¥1,006.695 million to be raised [3] Group 6: Listing Committee Inquiries - The Listing Committee raised several inquiries regarding the company's technology sources, revenue recognition methods, and financial practices, including potential risks related to intellectual property disputes and the rationale behind financial decisions [4][5]