Workflow
西安奕材IPO：上半年营收创新高 近三年营收复合增长率41.83%
Sou Hu Cai Jing·2025-08-12 00:07

Core Viewpoint - Xi'an Yiswei Materials Technology Co., Ltd. is set to undergo its initial public offering (IPO) review on August 14, with the capital market increasingly accommodating hard technology enterprises due to the implementation of the "1+6" reform measures in the Sci-Tech Innovation Board [1] Group 1: Company Performance and Growth - Xi'an Yiswei's annual shipment volume is projected to grow from 2.3462 million pieces in 2022 to 6.2546 million pieces in 2024, reflecting a compound annual growth rate (CAGR) of approximately 63% [3] - The company's revenue is expected to increase from 1.055 billion yuan in 2022 to 2.121 billion yuan in 2024, with a CAGR of 41.83% [3] - In the first half of 2025, the company's revenue is anticipated to rise by 45.99% year-on-year to 1.302 billion yuan, marking a record high for semi-annual revenue since its establishment [3] Group 2: Financial Health and Profitability - The gross margin of Xi'an Yiswei's main business has turned positive, aided by the recovery of the industry and adjustments in inventory provisions [3] - The net cash flow from operating activities has been positive since 2022, and earnings before interest, taxes, depreciation, and amortization (EBITDA) turned positive in 2023, with a projected growth of 147.39% in 2024 [3] - The company expects to achieve positive gross and net profits in 2026 and 2027, significantly enhancing its future profitability [3] Group 3: Market Position and Client Base - Xi'an Yiswei has gained recognition from international wafer manufacturers, achieving competitive levels in key metrics such as crystal defect control, warpage, flatness, and cleanliness [4] - As of the end of 2024, the company has validated a total of 144 clients, including 108 from mainland China and 36 from Taiwan and overseas [4] - The company anticipates that by 2026, its two factories will collectively achieve a production capacity of 1.2 million pieces per month, positioning Xi'an Yiswei among the leading global manufacturers of 12-inch silicon wafers [5]