Skyverse Technology (SH:688361) 2 1 Shi Ji Jing Ji Bao Dao·2025-12-31 03:24Core Viewpoint - The IPO application of Changxin Technology, a leading domestic DRAM manufacturer, has been accepted by the Shanghai Stock Exchange, leading to increased activity in the semiconductor industry chain and related ETFs [1][3]. Group 1: IPO and Financial Performance - Changxin Technology's IPO aims to raise 29.5 billion yuan, primarily for technology upgrades and new DRAM technology development [3]. - The company reported a revenue of 32.08 billion yuan for the first nine months of 2025 and expects a profit of 3.7 to 11.3 billion yuan in Q4, indicating a significant turnaround [3][4]. Group 2: Market Reaction and ETF Performance - The semiconductor equipment ETF (561980) opened up by 1.07% and has seen a net inflow of over 100 million yuan over the past four trading days [1][5]. - The ETF has a strong focus on semiconductor equipment, with nearly 60% of its index comprising equipment-related stocks, indicating a robust investment opportunity in the semiconductor supply chain [5][7]. Group 3: Industry Outlook - Analysts believe that Changxin's IPO and expansion plans will create sustained demand for upstream semiconductor equipment, with potential order growth exceeding 30% [4]. - The domestic semiconductor equipment sector is expected to benefit from a strong growth cycle, with a projected increase in equipment orders and a rising domestic production rate [4][5].