存储巨头长鑫科技冲击IPO，2024年营收超241亿元，固定资产投入巨大

Group 1 - Longxin Technology Group Co., Ltd. is set to launch an IPO on the Sci-Tech Innovation Board, aiming to raise 29.5 billion yuan, making it the second-largest IPO since the board's inception, following SMIC's 53.23 billion yuan in 2020 [1][2] - The funds raised will primarily be used for upgrading the manufacturing technology of memory chip production lines, DRAM technology upgrades, and research and development of advanced DRAM technologies [1][2] - Longxin Technology is the first company to undergo the "pre-review" process for IPOs on the Sci-Tech Innovation Board, which aims to provide more flexible listing services for qualified tech companies [2][3] Group 2 - Established in June 2016, Longxin Technology is headquartered in Hefei, Anhui, and focuses on the research, design, production, and sales of DRAM products using an IDM model [5][10] - The company has become the largest DRAM manufacturer in China and the fourth largest globally, with three 12-inch DRAM wafer fabs located in Hefei and Beijing [10] - Longxin's product offerings include DDR and LPDDR series, widely used in servers, mobile devices, personal computers, and smart vehicles [10][11] Group 3 - The company has experienced steady revenue growth, with reported revenues of 8.287 billion yuan in 2022, 9.087 billion yuan in 2023, and an expected 24.178 billion yuan in 2024 [15] - Despite revenue growth, Longxin has not yet achieved profitability, with cumulative losses reaching 40.857 billion yuan as of June 30, 2025 [16][17] - The company's financial structure shows a high proportion of fixed assets, which accounted for 59.19% of total assets as of June 30, 2025, indicating significant capital investment [17] Group 4 - The global DRAM market is projected to reach 97.6 billion USD in 2024, with DRAM accounting for approximately 59% of the total storage chip market [26][29] - The DRAM industry is characterized by cyclical trends, with significant price fluctuations observed; Longxin's DRAM product prices dropped by 43.54% in 2023 but are expected to rise by 55.08% in 2024 [31][32] - Longxin's market share in the global DRAM sector has increased to 3.97% as of the second quarter of 2025, positioning it among the major players in the industry [32]