江苏半导体设备“独角兽”企业，启动IPO

Core Viewpoint - Jiangsu Pizhou's semiconductor equipment company, Leuven Instruments, has completed the listing guidance filing with the Jiangsu Securities Regulatory Bureau and officially initiated its A-share IPO, indicating its entry into the capital market after over a decade in the semiconductor equipment sector [1]. Company Summary - Leuven Instruments was established in September 2015, with a registered capital of 196 million yuan. The company has a strong technical foundation and a diverse shareholding structure, including 19.82% held by the controlling shareholder Leuven Instruments and 2.98% by the Chinese Academy of Sciences Microelectronics Research Institute, which supports core technology development [2][3]. - The company specializes in providing equipment and process solutions for integrated circuit manufacturing, covering critical processes in various fields such as logic chips, memory, power devices, optics, and micro-displays. Its products include Ion Beam Shaping (IBS) and Ion Beam Deposition (IBD) equipment, which are at the forefront of the industry [3]. - Leuven Instruments holds 422 patents and has recently solved the uniformity issue of plasma concentration with its patented plasma etching machine, meeting the high-precision etching demands of 5G and artificial intelligence sectors. The company has also developed a magnetic storage etching machine that addresses the technical challenges of producing small-sized magnetic random access memory (MRAM), potentially breaking the monopoly of overseas manufacturers [3]. Industry Summary - Since 2025, 38 semiconductor companies have aimed for A-share listings, with a total fundraising target of nearly 100 billion yuan, covering key areas such as chip design, manufacturing, equipment, and materials. The semiconductor equipment sector is a focal point for domestic substitution and has attracted significant capital interest [4]. - The trend of domestic substitution and policy support presents a favorable development opportunity for equipment companies like Leuven Instruments that possess core technologies. The initiation of its IPO marks a significant milestone for the company and reflects the accelerated rise of the domestic semiconductor equipment industry [4].