Core Insights - Xi'an Yiswei Materials Technology Co., Ltd. successfully went public on the Sci-Tech Innovation Board on October 28, 2025, with a stock code of 688783, experiencing a 35% surge in opening price and surpassing a market capitalization of 100 billion yuan, marking it as one of the largest IPOs in the domestic semiconductor sector this year [1][3][5] Company Overview - Xi'an Yiswei specializes in the research, production, and sales of 12-inch electronic-grade silicon wafers, which are essential materials for chip manufacturing, widely used in sectors such as electronic communications, new energy vehicles, artificial intelligence, and consumer electronics [5][6] - The company is the largest 12-inch silicon wafer manufacturer in mainland China and the sixth globally, with a customer base of 144 verified clients, including major domestic foundries and international suppliers [6] Financing Journey - The company has undergone significant capital support, with total financing exceeding 10 billion yuan and cumulative investments surpassing 20 billion yuan since its inception [9][10] - Key financing rounds include: - A-round financing starting in 2019, with substantial contributions from local government-backed funds [9] - B-round financing completed in July 2021, raising over 3 billion yuan [10] - C-round financing at the end of 2022, which set a record for the largest single private placement in China's silicon wafer industry at nearly 4 billion yuan [10] Government and Institutional Support - The development of Xi'an Yiswei has been significantly supported by various government and state-owned industrial funds, which recognized the strategic importance of the silicon materials sector [13][14] - The local government provided comprehensive support throughout the project lifecycle, facilitating rapid construction and operational readiness [14][15] Market Position and Future Prospects - The successful IPO is seen as a new starting point for Xi'an Yiswei, with plans to use the raised funds for capacity expansion and R&D [16][17] - The company aims to increase its market share from 7% to over 10% globally, contributing to a domestic silicon wafer localization rate exceeding 20% [6][19] Strategic Insights - The success of Xi'an Yiswei serves as a model for fostering strategic emerging industries, emphasizing the importance of early government investment, professional support services, and a collaborative capital mechanism [20]
西安奕材“未盈利”科创板上市即千亿市值！政产投协同下的中国半导体样本