Venture(US:VEMLY) Sou Hu Cai Jing·2025-12-20 01:53Core Viewpoint - Yuanchip Semiconductor Technology Co., Ltd. has applied for A-share listing on the ChiNext board, following the trend of unprofitable companies seeking public funding under new listing standards [1][4]. Group 1: Company Overview - Yuanchip Semiconductor is a 12-inch chip manufacturing company that has fully entered mass production, starting from consumer chip manufacturing and gradually upgrading to industrial electronics [2][3]. - The company currently operates two 12-inch wafer fabs with a combined planned capacity of 80,000 wafers per month, with plans to add a new production line that will increase total capacity to 120,000 wafers per month [3]. Group 2: Financial Information - Yuanchip Semiconductor plans to raise 7.5 billion yuan (approximately $1.06 billion) through its IPO, which will be used for the development of a 12-inch integrated circuit analog specialty process production line, technology platform research, and to supplement working capital [3]. - The company has reported significant losses over the past few years, with losses of 1.043 billion yuan, 1.917 billion yuan, 2.253 billion yuan, and 1.201 billion yuan for the years 2022, 2023, 2024, and the first half of 2025, respectively, totaling 6.414 billion yuan [3]. Group 3: Listing Standards and Regulatory Environment - The listing standard chosen by Yuanchip Semiconductor is based on the revised rules of the Shenzhen Stock Exchange, which require a market value of no less than 5 billion yuan and a minimum revenue of 300 million yuan in the most recent year [3]. - The introduction of the third set of listing standards on the ChiNext board aims to support high-quality, unprofitable innovative companies in accessing capital markets [4].