强一股份科创板上市 深耕高端探针卡领域再出发

Core Viewpoint - Qiangyi Semiconductor (Suzhou) Co., Ltd. has officially listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board, becoming the 600th listed company, focusing on high-end probe card development to support domestic semiconductor hardware independence [1][2]. Company Overview - The company was founded in 2015 by Chairman Zhou Ming, who identified market opportunities in the domestic probe card industry, which has been dominated by foreign manufacturers [1]. - Qiangyi Semiconductor has developed a product matrix that includes 2D/2.5D MEMS probe cards, thin-film probe cards, and cantilever probe cards, serving over 400 clients across various sectors [1][2]. Financial Performance - Revenue increased from 254 million yuan in 2022 to 641 million yuan in 2024, with a non-GAAP net profit rising from 13.84 million yuan to 22.7 million yuan during the same period [2]. - In the first half of 2025, the company achieved revenue of 374 million yuan and a non-GAAP net profit of 13.7 million yuan, with a gross margin of 68.99% [2]. Technological Development - As of September 30, 2025, the company holds 24 core technologies and has obtained 182 authorized patents, including 72 domestic invention patents and 6 overseas invention patents [2]. - Continuous R&D innovation is emphasized as a core strategy for maintaining competitiveness, with a focus on creating a virtuous cycle of "R&D - transformation - iteration" [2]. Future Plans - The company plans to use the 2.756 billion yuan raised from its IPO to invest in the Nantong probe card R&D and production project, as well as the Suzhou headquarters and R&D center [2]. - Future goals include enhancing R&D efforts to meet diverse wafer testing needs, improving product performance, expanding product variety, and actively seeking new domestic and international clients [2][3]. Industry Outlook - The demand for high-precision probe cards is expected to grow due to advancements in semiconductor processes and developments in downstream sectors such as artificial intelligence and automotive electronics [3]. - The probe card industry is anticipated to experience sustained growth over the next 3 to 5 years, driven by industry expansion and technological advancements [3].