Core Viewpoint - Tianyu Semiconductor, a manufacturer of silicon carbide (SiC) epitaxial wafers, successfully completed its IPO with a subscription amount of at least HKD 77.1 billion, resulting in an oversubscription of 43.2 times the public offering amount of HKD 1.74 billion [1] Group 1: Company Overview - Tianyu Semiconductor was established in 2009 and focuses primarily on the production of self-manufactured silicon carbide epitaxial wafers [2] - The company is the third-largest manufacturer of self-manufactured silicon carbide epitaxial wafers in the global market, holding a market share of 6.7% by revenue and 7.8% by volume for 2024 [2] - In the Chinese market, Tianyu Semiconductor is the largest manufacturer of self-manufactured silicon carbide epitaxial wafers, with a market share of 30.6% by revenue and 32.5% by volume 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: Use of Proceeds - Tianyu Semiconductor plans to allocate 62.5% of the net proceeds from the global offering to expand overall production capacity, 15.1% to enhance independent research and innovation capabilities, 10.8% for strategic investments or acquisitions, 2.1% to expand the global sales and marketing network, and 9.5% for working capital and general corporate purposes [3] Group 4: Production Capacity and Services - The company is upgrading its manufacturing processes and research capabilities to meet the evolving demands for larger and more cost-effective semiconductor materials [2] - A new ecological park in Dongguan has been completed and is expected to be used for mass production of 6-inch and 8-inch silicon carbide epitaxial wafers, with operations commencing by the end of 2025 [2] - Tianyu Semiconductor offers value-added services related to silicon carbide epitaxial wafers, including epitaxial wafer foundry services, wafer cleaning services, and related testing services [2]
新股消息 | 天域半导体(02658)招股结束 孖展认购额达77.1亿港元 超购43.2倍