未盈利企业也能IPO过会？原来是这样一个“小巨人”

Group 1 - The core point of the news is that 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] - Dapu Micro focuses on data center storage scenarios and is one of the few domestic companies with full-stack self-research capabilities in enterprise-level SSDs, including "main control chips + firmware algorithms + modules" [3] - The company has achieved international advanced levels in key performance indicators such as sequential and random read/write speeds and latency, and has begun mass production of new product forms like SCM SSDs and computable storage SSDs [3] Group 2 - Dapu Micro has a total of 156 invention patents and has invested 737 million yuan in R&D over the past three years, accounting for 36.15% of its cumulative operating income [3] - Financial data shows that Dapu Micro's operating income for 2022, 2023, and 2024 is projected to be 557 million yuan, 519 million yuan, and 962 million yuan respectively, with an expected income of 2.158 billion yuan in 2025, representing a 124% year-on-year growth [3] - The demand for a domestically controlled enterprise-level SSD ecosystem is increasingly strong, which is a key factor driving the development of the domestic semiconductor industry [3][4]