股权代持藏腐迹：一起受贿案，牵出影速集成IPO资本迷局

Core Viewpoint - The recent criminal ruling regarding Wang's bribery case has brought attention back to Jiangsu Yingsu Integrated Circuit Equipment Co., Ltd., which had previously aimed for an IPO but has faced significant setbacks [1][7]. Group 1: Criminal Case Details - Wang was sentenced to 13 years and 6 months in prison and fined 3 million yuan for accepting bribes totaling 6.9492 million yuan through the manipulation of equity transfers [1][5]. - The case involved Wang facilitating a low-priced equity transfer of C Company shares to his associate, Chen, under the guise of a legitimate transaction [3][6]. - The court found that the equity transfer was not a fair market transaction, as the price paid was significantly below the market value of the shares, which was assessed at approximately 16.9492 million yuan [3][6]. Group 2: Company Background and IPO Attempts - Jiangsu Yingsu, established in August 2014, specializes in laser direct writing lithography equipment and has been referred to as a "lithography small giant" [7]. - The company attempted to initiate an IPO in September 2020 but has not made substantial progress since then, despite being guided by China International Capital Corporation [7]. - In March 2023, Baoxin Technology announced plans to acquire a 40% stake in Yingsu for 320 million yuan, but the deal was unilaterally terminated by Yingsu in June, citing unresolved negotiation issues [7].