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上海超硅IPO：三年累计亏损超30亿元 仍面临市场竞争加剧风险
Sou Hu Cai Jing·2025-09-11 09:28

Group 1 - Shanghai ChaoSilicon's IPO application was accepted by the Shanghai Stock Exchange on June 13, and its review status changed to "inquiry" on July 2 [2] - The company specializes in the R&D, production, and sales of 300mm and 200mm semiconductor silicon wafers, with a design capacity of 700,000 pieces/month for 300mm wafers and 400,000 pieces/month for 200mm wafers [2] - The company's products are used in advanced process chips, including NAND Flash, DRAM, and logic chips [2] Group 2 - The company's revenue for 2022, 2023, and 2024 is projected to be 921 million, 928 million, and 1.327 billion yuan respectively, while net profits are expected to be -803 million, -1.044 billion, and -1.299 billion yuan, resulting in a cumulative loss of 3.146 billion yuan over three years [3] - As of the end of 2024, the total assets are projected to be approximately 1.548 billion yuan, with a debt-to-asset ratio of 52.33% [4] Group 3 - The company faces significant inventory impairment pressure, with inventory balances at the end of each reporting period being 776.85 million, 1.189 billion, and 1.514 billion yuan [7] - The company plans to raise 4.965 billion yuan, with approximately 1.419 billion yuan allocated for working capital and the remainder for expanding production capacity and R&D projects [10] Group 4 - The global semiconductor silicon wafer market is highly concentrated, with the top five companies holding around 80% market share, while Shanghai ChaoSilicon's market share is only 1.60% in 2024 [5] - The company is facing increasing competition due to the rapid development of new projects in China's semiconductor silicon wafer industry [5] Group 5 - The company is undertaking several R&D projects, including the development of advanced process DRAM and SRAM wafers, HBM wafer COP-Free crystal growth technology, and SOI crystal growth and inspection technology [9][11] - These projects aim to enhance production capabilities and meet the growing demand from emerging industries such as artificial intelligence [11]