Core Insights - Xi'an Yichai (688783.SH) officially announced its issuance results on October 22, with an issuance price of 8.62 yuan per share and a total of 53.78 million shares issued, raising a total of 4.636 billion yuan for the second phase of its silicon industry base project [2] - As a leading player in the 12-inch silicon wafer sector in China, Xi'an Yichai's listing marks a new milestone in the semiconductor materials field, being the first unprofitable company to be accepted and approved under the "Science and Technology Innovation Board Eight Articles" [2] - The company focuses on the research, production, and sales of 12-inch silicon wafers, ranking first in mainland China and sixth globally, with a projected global market share of approximately 6% in shipment volume and 7% in production capacity by 2024 [2] Domestic Market Performance - The company has established itself as a primary supplier for major domestic wafer foundries and storage IDM manufacturers, becoming the largest or second-largest supplier of 12-inch silicon wafers to mainstream storage IDM manufacturers in China [2] - Xi'an Yichai is also the top supplier of 12-inch silicon wafers to leading logic wafer foundries in mainland China and is a preferred supplier for newly established 12-inch wafer fabs [2] International Market Expansion - The company has extended its supply chain and sales channels internationally, maintaining an overseas sales revenue ratio of around 30% from 2022 to the first half of 2025 [3] - As of June 2025, Xi'an Yichai has validated 161 customers, including 122 in mainland China and 39 in Taiwan and overseas, with over 490 validated test chips and more than 100 mass-produced products [3] Financial Performance - The company's revenue increased from 1.055 billion yuan in 2022 to 2.121 billion yuan in 2024, achieving a compound annual growth rate of 41.83% [3] - In the first half of 2025, the company reported revenue of 1.302 billion yuan, a year-on-year increase of 45.99%, marking its best semi-annual performance since establishment [3] - Shipment volume surged from 2.3462 million pieces in 2022 to 6.2546 million pieces in 2024, with a compound growth rate of 63%, reflecting rapid market demand [3] Future Capacity and Industry Impact - The funds raised from the listing will be fully allocated to the construction of the second factory, which, upon reaching full capacity, will achieve a combined output of 1.2 million pieces per month with the first factory [4] - This capacity will meet 37% of the projected 3.21 million pieces per month of 12-inch wafer capacity required by domestic wafer fabs by 2026, significantly alleviating the supply-demand imbalance in the domestic 12-inch silicon wafer market [5]
西安奕材新股发行结果出炉！12英寸硅片龙头厂商即将上市
Sou Hu Cai Jing·2025-10-22 02:57