恭喜！奕斯伟材料 IPO过会！

Core Viewpoint - Xi'an Yiswei Materials Technology Co., Ltd. has received approval for its IPO on the Sci-Tech Innovation Board, marking it as the first unprofitable company accepted by the Shanghai Stock Exchange after the implementation of new policies. The company is the largest 12-inch silicon wafer manufacturer in mainland China, with significant growth potential in the semiconductor industry [2]. Group 1 - Xi'an Yiswei was established in 2016 and focuses on the research and production of 12-inch silicon wafers, holding a market share of 6-7% globally, ranking sixth in the world [2]. - The company has developed five core process systems, with products serving international clients such as Samsung and SK Hynix, covering storage and logic chip sectors [2]. - The projected compound annual growth rate (CAGR) for revenue from 2022 to 2024 is 41.83%, despite a cumulative loss of 1.728 billion yuan due to high depreciation from heavy asset investments [2]. Group 2 - The company plans to raise 4.9 billion yuan for capacity expansion, aiming to reach a production capacity of 1.2 million wafers per month by 2026, which would meet 40% of mainland China's demand [2]. - Regulatory authorities are concerned about the stability of the company's control and its profitability outlook. The listing highlights the capital market's acceptance of "hard technology" and the need for the company to overcome profitability challenges in an oligopolistic market [2].