西安奕材启动招股，国内头部的12英寸硅片厂商，出货量年复合增长率超60%

Core Viewpoint - Xi'an Yichai is launching an IPO on the Sci-Tech Innovation Board, aiming to expand its capacity and enhance its market position as a leading 12-inch silicon wafer manufacturer in China and globally [1][2]. Group 1: Company Overview - Xi'an Yichai is the largest 12-inch silicon wafer manufacturer in mainland China and the sixth globally, with a market share of approximately 6% in monthly shipment volume and 7% in production capacity as of 2024 [1]. - The company has established itself as a key supplier for major domestic wafer foundries and storage IDM manufacturers, ranking first or second in supply volume among domestic suppliers [1]. Group 2: Product and Market Demand - The company's products are in mass production for various advanced chips, including 2YY-layer NAND Flash, advanced DRAM, and logic chips, with ongoing development for high-performance logic chips tailored for AI applications [2]. - There is a growing global demand for 12-inch silicon wafers, particularly in the mid-to-high-end segment, driven by emerging applications like artificial intelligence, leading to a compound annual growth rate (CAGR) of approximately 63% in shipment volume from 2022 to 2024 [2]. Group 3: Financial Performance - The company's revenue is projected to grow from 1.055 billion yuan in 2022 to 2.121 billion yuan in 2024, reflecting a CAGR of 41.83% [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%, indicating a positive trend in financial performance [3]. - The company anticipates steady revenue growth in the first three quarters of this year, with an expected increase of 34.61% to 41.51% year-on-year, driven by improved operational performance and cost management [3].