江苏半导体材料“小巨人”，启动IPO

Company Overview - Yongzhi Co., Ltd. is a semiconductor packaging materials company based in Taizhou, Jiangsu, established in October 2007 with a registered capital of 113.3 million yuan [4][5] - The company is currently in the process of applying for an IPO on the Beijing Stock Exchange, with Huatai United Securities as the advisory institution [2] Financial Performance - Yongzhi's revenue for the years 2023, 2024, and the first five months of 2025 were 775 million yuan, 981 million yuan, and 452 million yuan respectively [5] - The net profit for the same periods was 2 million yuan, 60 million yuan, and 33 million yuan respectively [5] - Research and development expenses for the years 2023, 2024, and the first five months of 2025 were 29 million yuan, 30 million yuan, and 14 million yuan respectively [5] Product Offerings - Yongzhi specializes in the research, production, and sales of integrated circuit lead frames and advanced packaging substrates, aiming to provide core materials and solutions for the global semiconductor packaging industry [6] - Key products include: - Stamped lead frames for various applications, including TO series and IPM module frames [6] - Etched lead frames with advanced processing capabilities [6][7] - Advanced packaging substrates such as pre-formed MIS substrates and DBC/AMB ceramic substrates for high-power modules [7] Corporate Structure - The company is controlled by its chairman, Xiong Zhi, who holds a 43.65% stake [4] - Yongzhi has multiple subsidiaries, enhancing its operational capabilities in the semiconductor sector [6] Industry Recognition - In 2024, Yongzhi was recognized as a national-level "specialized, refined, and innovative" small giant enterprise [5]