创业板首家！科技新兵大普微过会

Core Viewpoint - Shenzhen Dapu Microelectronics Co., Ltd. has successfully passed the IPO application review by the Shenzhen Stock Exchange, marking it as the first unprofitable company to be approved for listing on the ChiNext board [1]. Company Information - Dapu Micro is focused on enterprise-level SSDs for data center storage and is one of the few domestic companies with full-stack self-research capabilities in "main control chips + firmware algorithms + modules" [3]. - The company has 156 invention patents and has invested 737 million yuan in R&D over the past three years, accounting for 36.15% of its cumulative revenue [3]. - Financial data shows that Dapu Micro achieved revenues of 557 million yuan, 519 million yuan, and 962 million yuan from 2022 to 2024, with an expected revenue of 2.158 billion yuan in 2025, representing a 124% year-on-year growth [3]. Industry Context - There is a growing demand for a domestically controlled enterprise-level SSD ecosystem, which is crucial for supply chain security and the development of the domestic semiconductor industry [4]. - The ChiNext board has enhanced its inclusivity and adaptability, supporting high-quality innovative companies, as evidenced by Dapu Micro's IPO approval [5]. - The introduction of the unprofitable listing standard in June 2023 has positively impacted the market, allowing innovative companies to access capital more easily [5].