2026年科创板首单撤回案例 华泰联合证券保荐项目终止| A股融资快报

Core Viewpoint - Jiangsu Yadian Technology Co., Ltd. has had its IPO application on the Sci-Tech Innovation Board terminated, marking it as the first company to have its IPO halted in 2026 [1] Group 1: Company Overview - Yadian Technology is a leading supplier of wet cleaning equipment in China, focusing on the research, production, and sales of wet cleaning equipment for silicon-based semiconductors, compound semiconductors, and photovoltaic fields [3] - The company plays a crucial role in the domestic semiconductor cleaning equipment localization process, ranking second among domestic brands in market share for slot-type wet cleaning equipment in 2024 according to third-party reports [3] Group 2: Financial Performance - The company has shown rapid growth in its financial performance, with revenues of 120.73 million yuan, 441.75 million yuan, and 580.41 million yuan from 2022 to 2024, respectively [3] - Net profit attributable to shareholders turned from a loss of 81.01 million yuan in 2022 to a profit of 82.52 million yuan in 2024, indicating a successful turnaround [3] Group 3: IPO Details - Yadian Technology planned to raise 950 million yuan through its IPO, with intended investments in high-end semiconductor equipment industrialization, advanced process semiconductor technology research and development, and working capital [4] - The company faced multiple risks, including high customer concentration, potential underperformance in technology development, large inventory scale, and industry cyclicality [4] Group 4: Regulatory and Market Context - The termination of the IPO reflects the high standards and strict requirements of the Sci-Tech Innovation Board regarding information disclosure quality, technological attributes, and sustainable operational capabilities [5] - The underwriting firm, Huatai United Securities, and its representatives are under scrutiny following the project's termination, which may lead to a reassessment of risk management and project selection in their investment banking operations [5]