Venture(US:VEMLY) Cai Fu Zai Xian·2025-12-25 12:26Core Viewpoint - Shenzhen Dapu Microelectronics Co., Ltd. has successfully passed the IPO application on the Shenzhen Stock Exchange's ChiNext board, marking a significant milestone for the company as a leading provider of enterprise-grade SSD products in China [1][5]. Company Overview - Dapu Micro specializes in the research and sales of enterprise-grade SSD products, possessing full-stack self-research capabilities in "controller chips + firmware algorithms + modules" [1][5]. - The company has developed a core technology system encompassing controller chip design, firmware algorithms, module design, and validation testing, successfully launching multiple high-performance enterprise-grade SSD products [5][10]. Market Position - Dapu Micro is positioned as the first domestic company focused on enterprise-grade SSDs, differentiating itself from competitors primarily targeting consumer-grade SSDs [3][5]. - The company has achieved significant technological advancements, being among the first globally to mass-produce enterprise-grade PCIe 5.0 SSDs and large-capacity QLC SSDs [6][10]. Industry Trends - The global storage market is shifting focus from consumer electronics to data centers, driven by the demand for high-performance storage due to AI training and inference [8][10]. - The enterprise SSD market is projected to reach $51.418 billion by 2027, with a compound annual growth rate (CAGR) of 20.25% from 2022 to 2027, while the Chinese market is expected to reach $13.509 billion with a CAGR of 24.75% [8][11]. Competitive Landscape - Dapu Micro's products are designed to meet the high technical requirements of data center applications, including performance, reliability, and durability, which are critical for enterprise clients [4][10]. - The company’s competitive edge lies in its ability to innovate and adapt to market trends, enhancing product performance while reducing costs and energy consumption [10][11]. Strategic Importance - The successful IPO of Dapu Micro reflects the capital market's support for high-growth, high-quality R&D enterprises, signaling a strategic focus on advancing core technologies in the semiconductor storage sector [2][11]. - The collaboration among Dapu Micro, Yangtze Memory Technologies, and Changxin Memory Technologies aims to create a complete domestic storage technology ecosystem, addressing the market's needs from storage media to enterprise storage solutions [7].