Venture(US:VEMLY) Quan Jing Wang·2025-09-21 02:34Core Viewpoint - Yunhan Chip City (云汉芯城) successfully held its online roadshow for its initial public offering (IPO) on the ChiNext board, marking a significant milestone in the company's development [1][3]. Company Overview - Founded in 2008, Yunhan Chip City focuses on the research, production, and procurement of small-batch electronic components in the electronic manufacturing industry, utilizing digital and internet technologies through its self-operated B2B online marketplace [3][4]. - The company aims to provide a one-stop service for the electronic manufacturing industry, extending its offerings to product technical solution design, PCBA manufacturing services, and technical support from electronic engineers [3]. Business Strategy - The company adheres to a development philosophy of "online business, data-driven operations, and data utilization," emphasizing the accumulation and application of data resources as a key competitive advantage [3]. - The IPO is seen as an opportunity to leverage capital market resources to enhance technical capabilities and service levels while aligning with national policies and industry trends [3][4]. Financial Insights - The CFO, Zhou Xuefeng, reported the operating costs for the years 2022 to 2024 as follows: 3.806 billion yuan, 2.247 billion yuan, and 2.158 billion yuan, respectively, with the main business costs consistently accounting for over 99% of total operating costs [6]. - The primary cost driver is the procurement of electronic components, which is closely linked to market prices [6]. Industry Trends - The rapid advancement of the domestic substitution process in the electronic components industry is expected to drive growth in the sector, with Yunhan Chip City positioned as a key player in this ongoing trend [8]. - The company recognizes the long-term nature of this development and anticipates it will be a significant growth driver moving forward [8]. IPO Details - The new share issue price is set at 27 yuan per share, with the subscription code being 301563 [8].