上峰水泥参投企业昂瑞微启动科创板IPO发行

Core Insights - Angrui Microelectronics has officially launched its IPO process on the Sci-Tech Innovation Board, with a stock code of "688790" and plans to issue 24.8829 million shares to raise 2.067 billion yuan for R&D projects related to 5G RF chips and IoT chips [4] Company Overview - Angrui Microelectronics, established in 2012, specializes in integrated circuit design in the RF and analog fields, focusing on RF front-end chips, RF SoC chips, and other analog chips [1] - The company is recognized as a national-level "little giant" enterprise, providing high-performance, reliable, low-power, and highly integrated core devices and system-level solutions for smart mobile terminals, IoT, smart vehicles, and satellite communications [1] Industry Context - The RF front-end sector is experiencing a significant market opportunity, projected to reach hundreds of billions, alongside domestic substitution benefits [1] - Angrui Microelectronics has achieved industry-leading modularization capabilities, becoming one of the few domestic manufacturers to achieve large-scale shipments of complex modules [1] - The company's 5G high-integration module technology and product performance have reached a leading position domestically and are internationally advanced, successfully breaking the monopoly of international manufacturers in the 5G L-PAMiD module market [1] Investment Strategy - Shangfeng Cement has been steadily investing in new quality businesses in the semiconductor and new energy sectors, accumulating resources for transformation and development [2] - The investment in Angrui Microelectronics is expected to confirm the value of Shangfeng Cement's equity investments, providing investment returns and strengthening the strategic resource foundation for its "dual-wheel drive" strategy [2]