科创成长层将迎“新成员” 西安奕材启动发行

Core Viewpoint - Xi'an Yiswei Material Technology Co., Ltd. has officially launched its IPO process, marking a significant step in the registration system reform of the Sci-Tech Innovation Board, particularly for unprofitable companies [1] Company Overview - Xi'an Yiswei focuses on the research, production, and sales of 12-inch silicon wafers, becoming the first in mainland China and the sixth globally in terms of monthly shipment volume and production capacity [1] - The company holds approximately 6% and 7% of the global market share in monthly shipment volume and production capacity, respectively, as of 2024 [1] Market Position - Xi'an Yiswei has transitioned from a challenger to a leader in the global 12-inch silicon wafer market, ranking among the top two suppliers for major domestic storage IDM manufacturers and the leading supplier for first-tier logic wafer foundries in mainland China [2] - As of June 2025, the company has validated 161 customers and has over 490 validated test wafers, with more than 100 in mass production contributing approximately 60% to its main business revenue [2] Financial Performance - From 2022 to 2024, the company's production and sales of 12-inch silicon wafers increased from 2.35 million to 6.25 million units, representing a growth rate of 166.58% [3] - Revenue grew from 1.055 billion to 2.121 billion yuan, with a compound annual growth rate of about 42% [3] - In the first half of 2025, the company achieved a revenue of 1.302 billion yuan, a year-on-year increase of 45.99%, marking a record high for semi-annual revenue since its establishment [3] Research and Development - Xi'an Yiswei has invested 576 million yuan in R&D from 2022 to 2024, accounting for 12.39% of its cumulative revenue, with a compound growth rate of 33.15% [3] - The company has established a robust technical system across five core processes and has applied for a total of 1,843 patents, with 799 granted, making it the leading company in mainland China for authorized patents in the 12-inch silicon wafer sector [4] Future Plans - The funds raised from the IPO will be used entirely for the second phase of the Xi'an Yiswei silicon industry base project, which is expected to reach full production by 2026 [5] - The combined production capacity of both factories is projected to exceed 1.2 million wafers per month, meeting over 10% of global demand for 12-inch silicon wafers [5] - The company is also focusing on diversifying its upstream supply chain and enhancing local supplier capabilities, particularly in critical equipment components [5]