Core Viewpoint - Xi'an Yichai has successfully launched its IPO, reflecting the increasing acceptance of unprofitable "hard tech" companies in the STAR Market, with a significant number of investors participating in the subscription process [1] Group 1: Company Overview - Xi'an Yichai focuses on the research, production, and sales of 12-inch silicon wafers, rapidly growing from a new entrant to a significant player in the market [2] - The company ranks as the first in mainland China and sixth globally in 12-inch silicon wafer production, with an expected global market share of over 10% by 2026 [2] - Xi'an Yichai is committed to fostering local suppliers for 12-inch silicon wafer equipment and materials, promoting diversification in the upstream supply chain [2] Group 2: Technology and Production - The company has established a core technology system encompassing five key processes: crystal pulling, shaping, polishing, cleaning, and epitaxy, achieving competitive levels in critical metrics with the top five global manufacturers [2] - Its products are already in mass production for various advanced semiconductor applications, including NAND Flash and DRAM chips, with ongoing validation for next-generation products [2] Group 3: Intellectual Property and Financial Performance - As of June 2025, Xi'an Yichai holds the most authorized domestic and international invention patents in the 12-inch silicon wafer sector in mainland China, with a total of 1,843 patent applications, over 80% of which are invention patents [3] - The company's revenue has shown a positive trend, increasing from 1.055 billion yuan in 2022 to an estimated 2.121 billion yuan in 2024, reflecting a compound annual growth rate of 41.83% [3] - The company has maintained positive cash flow since 2022, with expectations to achieve profitability by 2027 [3]
西安奕材网上发行中签率0.07124620%！近375万投资者参与申购，从“挑战者”到“赶超者”，12英寸硅片头部企业硬科技底色凸显
Zheng Quan Shi Bao Wang·2025-10-16 14:06