Core Viewpoint - Tianyu Semiconductor, a manufacturer of silicon carbide (SiC) epitaxial wafers, is conducting an IPO with significant oversubscription, indicating strong market interest and confidence in its growth potential [1][2]. Group 1: Company Overview - Tianyu Semiconductor was established in 2009 and specializes in the production of self-manufactured silicon carbide epitaxial wafers [1][2]. - The company is the third-largest manufacturer of self-made silicon carbide epitaxial wafers in China, holding a market share of 30.6% by revenue and 32.5% by volume in the domestic market for 2024 [2]. Group 2: Financial Performance - The company's revenue increased from RMB 437 million in 2022 to RMB 1.171 billion in 2023, but is projected to decline to RMB 519.6 million in 2024 [3]. - Net profit surged from RMB 2.8 million in 2022 to RMB 95.9 million in 2023 [3]. Group 3: IPO Details - Tianyu Semiconductor is offering 30.0705 million H-shares at a price of HKD 58 per share, with a public offering accounting for 10% of the total shares [1]. - The company has secured cornerstone investors, including private equity funds, with a total subscription amount of approximately RMB 120 million and HKD 30 million [1]. Group 4: Future Plans - The company plans to use 62.5% of the net proceeds from the global offering to expand overall production capacity, 15.1% for enhancing R&D capabilities, and 10.8% for strategic investments or acquisitions [3]. - A new manufacturing base in Dongguan is expected to be operational by the end of 2025, focusing on the mass production of 6-inch and 8-inch silicon carbide epitaxial wafers [2].
新股消息 | 天域半导体(02658)孖展认购已达21.6亿港元 超购11.4倍