SHANGFENG CEMENT(SZ:000672) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-12-21 23:21Core Viewpoint - Gansu Shifeng Cement Co., Ltd. has established partnerships through its wholly-owned subsidiary, Ningbo Shangrong Logistics Co., Ltd., to invest in the semiconductor industry, specifically in the initial public offering (IPO) of Guangdong Xin Semiconductor Technology Co., Ltd. [1][2] Group 1: Company Overview - Guangdong Xin Semiconductor is focused on providing 12-inch wafer foundry services and specialized process solutions for domestic and international chip design companies, with applications in consumer electronics, industrial control, automotive electronics, and artificial intelligence [2]. - The company has achieved significant milestones, being the first in Guangdong Province to enter mass production of 12-inch wafers, contributing to the national integrated circuit industry strategy [2]. Group 2: Investment Details - Ningbo Shangrong has invested a total of 233.83 million yuan, holding 38.46% of Shanghai Xin Puran, 13.08% of Suzhou Jingpu, and 3.27% of Suzhou Chuxin [2]. - The investment stakes in Guangdong Xin Semiconductor are 3.52% for Shanghai Xin Puran, 0.91% for Suzhou Jingpu, and 0.70% for Suzhou Chuxin, leading to an indirect ownership of approximately 1.4957% by the company prior to the IPO [2]. Group 3: IPO Process - The IPO of Guangdong Xin Semiconductor is subject to approval from the Shenzhen Stock Exchange and the China Securities Regulatory Commission, with uncertainties regarding the approval timeline and implementation [3].