Group 1 - The company, Fortior, plans to globally offer 16,299,500 H-shares, with 1,630,000 shares available in Hong Kong and 14,669,500 shares for international offering, with the pricing expected to be up to HKD 120.50 per share [1] - The company specializes in the design and development of BLDC motor drive control chips, establishing a strong market position in the industry [2] - As of December 31, 2023, the company holds a 4.8% market share in China's BLDC motor control and drive chip market, ranking sixth among competitors [2] Group 2 - The company has entered into cornerstone investment agreements, with cornerstone investors agreeing to subscribe for shares totaling approximately USD 112 million (or about HKD 879 million) [3] - Assuming the maximum offer price of HKD 120.50 per share, cornerstone investors will subscribe for a total of 7,295,700 shares [3] - The estimated net proceeds from the global offering are approximately HKD 1.846 billion, with planned allocations for R&D, product expansion, overseas market promotion, strategic investments, and working capital [4]

Group 1 - The company, Fortior, is planning to conduct an initial public offering (IPO) from June 30 to July 4, 2025, with a global offering of 16.2995 million H-shares, where 10% will be offered in Hong Kong and 90% internationally, with a maximum offer price of HKD 120.50 per share [1] - Fortior is a chip design company specializing in the design and development of BLDC (Brushless Direct Current) motor drive control chips, establishing a strong market position in the industry [1] - According to Frost & Sullivan, BLDC motors are widely used due to their high efficiency, low power consumption, high control precision, and low noise compared to traditional motors [1] Group 2 - As of December 31, 2023, Fortior holds a 4.8% market share in China's BLDC motor control and drive chip market, ranking sixth and being the only Chinese company among the top ten players [2] - The company's revenue increased from RMB 323 million in 2022 to RMB 411 million in 2023, representing a growth of 27.4%, and is projected to further increase to RMB 600 million in 2024, a growth of 45.9% [2] - Fortior's gross profit rose from RMB 185 million in 2022 to RMB 219 million in 2023, an increase of 18.1%, and is expected to reach RMB 316 million in 2024, a growth of 44.5% [2] Group 3 - Assuming the maximum offer price of HKD 120.50 per share, the estimated net proceeds from the global offering will be approximately HKD 1.846 billion [3] - The company plans to allocate the net proceeds as follows: approximately 34% for enhancing R&D and innovation capabilities, 10% for expanding the product portfolio, 16% for expanding overseas sales networks, 30% for strategic investments or acquisitions, and 10% for working capital and general corporate purposes [3] - Fortior has entered into cornerstone investment agreements with investors such as Taikang Life, Baoyin, and 3WFund, committing to subscribe for shares totaling USD 112 million [3]

Group 1 - TSMC is expected to produce Apple's A19 processor using 2nm technology in the second half of this year, while competitors Samsung and Intel are facing challenges in yield and progress, respectively [1] - Japan's 2nm technology has reportedly entered trial production and is expected to achieve mass production by next year, positioning Japan to compete directly with TSMC in chip manufacturing [3] - Japan established a chip company, Rapidus, in 2022 with support from major Japanese firms and the government, aiming to revitalize its semiconductor industry, which once held a significant global market share [3] Group 2 - The decline of Japan's semiconductor industry was accelerated by U.S. policies, leading to a loss of market dominance, with companies like Elpida falling behind [5] - The U.S. is seeking to diversify its chip supply sources, as TSMC currently produces 70% of advanced chips for American companies, and TSMC is raising prices for its upcoming 2nm technology by 50% [5] - Japan's Rapidus aims to revitalize its semiconductor sector, aligning with U.S. interests to create competition against TSMC [7] Group 3 - Japan's rapid advancement in 2nm technology is supported by IBM's technological expertise, which has historically played a significant role in chip manufacturing [7] - Japan has acquired advanced 2nm EUV lithography machines from ASML, becoming the third company after Intel and Samsung to do so, enhancing its production capabilities [7] - TSMC aims to maximize the value of its first-generation EUV lithography machines while Japan focuses on quickly achieving mass production of 2nm technology, leveraging its advantages in chip materials [9]

公众号记得加星标⭐️，第一时间看推送不会错过。 来源：内容来自Digitimes 。 一件台湾光罩子公司群丰的破产案，背后竟带出了「印度半导体自主大计」的难度与门槛。 光罩旗下群丰破产始末 台湾光罩日前公告，旗下子公司群丰已向法院声请宣告破产。 光罩总经理陈立惇表示，由于消费电子市场竞争剧烈，群丰营运承压，近年来虽展开调整，但效益有 限，亏损金额不断扩增。谨慎评估后，向法院声请宣告破产，由于已陆续认列亏损，对集团后续营运 影响不大。 陈立惇直言，此合作协议先前已破局，主因系Kaynes Semicon在合作期间，并未如协议实现其所立 下的各项条件承诺，考量此合作案对群丰并不公平，最后决定停止合作案。 对于台湾电子业界有何警示？ 台湾光罩本业为半导体前段制程用光罩，比重达9成，客户大多是大中华区的中小型IC设计公司，光 罩也转介客户在晶圆代工大厂进行投片。 光罩陸续取得群丰、艾格森、昱嘉及數可之控制权，力求扩大布局并发挥集团综效。 然而，光罩先前预期2024年转投资子公司整体获利能有起色，但进一步评估后，聚焦封测、系统级封 装（SiP）的群丰，亏损却不断扩大，最终破产收场。 值得注意的是，2024年光罩曾宣布， ...

Core Insights - The article emphasizes the increasing importance of rare earth elements (REEs) in various industries, highlighting their critical role in technology and military applications [1][3][35] - The Chinese government is intensifying scrutiny of rare earth enterprises, indicating a strategic shift towards protecting and controlling rare earth resources [21][29][30] Industry Importance - Rare earth elements are essential in modern technology, including smartphones, computers, and military equipment, making them more valuable than traditional resources like oil [5][7][13] - The extraction and refining of rare earth elements require advanced technology, which China has developed to a high level, achieving 90% refining capability [19][21] Technological Control - The complexity of rare earth refining technology has led to significant investments and research efforts, with past failures highlighting the challenges in the industry [17][19] - China’s control over rare earth refining technology positions it as a key player in global supply chains, giving it leverage in international trade and geopolitical matters [21][32] Security and Regulation - The Chinese government is implementing strict measures to monitor personnel involved in rare earth technology to prevent leaks and maintain national security [29][30] - Recent incidents of technology leaks have prompted the government to take action, reinforcing the importance of safeguarding rare earth technology [25][27] Global Implications - The article suggests that rare earth elements have become a strategic asset for China, comparable to a weapon in geopolitical negotiations [35][39] - Other countries, particularly in the West, are increasingly concerned about their dependence on Chinese rare earth supplies, indicating a potential shift in global economic dynamics [34][41]

一个专业的"红"体现的是社会的关注讨论热度，而"翻红"的偶然性往往源于特定的时代背景，难以预测。 以下文章来源于新周刊 ，作者陈倚 新周刊 . 中国最新锐的生活方式周刊。 又到一年高考志愿填报季，该选自己喜欢的专业还是有就业前景的？曾经那些不被推荐的冷门专业毕业生，现在都过得怎么样？读到"翻红专业"又是什么样的体 验？我们与四位高校毕业生聊了聊他们的故事。 文 ｜ 陈倚 编辑 ｜ 陆一鸣 来源｜ 新周刊（ID：new-weekly） 封面来源 ｜ 《追光的日子》剧照 6月23日起，全国各地高考成绩陆续可以查询，高考志愿填报也随之成为社交平台上的热门话题。 而在热门与冷门的标签之外，总有一些专业经历过，或者正在经历"翻红"。 十年前的冷门专业，十年后可能歪打正着成了新兴行业的"香饽饽"；曾经被吐槽的"天坑专业"，也可能因为时代和科技的发展变成" 天选专业"；连续多 年"亮红牌"的专业（即"不建议报考"的专业，通常为人才供需失衡、市场就业空间较小，薪资待遇以及未来前景较差的专业），也可能因为具备考编优势 而持续吸引众多学子报考。 唯一不变的是变化。不同的个体选择就像驶向不同方向的小船，或许带着几分模糊的方向感，但 ...

Core Viewpoint - The article discusses the evolving landscape of academic majors in China, highlighting how previously unpopular fields can become desirable due to changing societal needs and technological advancements [4][5]. Group 1: Changing Perceptions of Majors - Certain majors that were once considered "dead-end" or "trap" professions may gain popularity as industries evolve and new opportunities arise [4][5]. - The article emphasizes that the perception of a major's value is often influenced by societal trends and technological developments, making it difficult to predict which fields will thrive [4][5]. Group 2: Individual Experiences - The article features interviews with graduates from "revived majors," showcasing their educational and career paths as reflections of changing industry demands [5]. - For instance, a graduate who transitioned from economics to microelectronics found that the demand for chip engineers surged due to the rise of mobile internet and IoT technologies [13][14]. - Another graduate in archaeology noted a resurgence in interest in cultural heritage, leading to increased enrollment and job opportunities in the field [18][21]. Group 3: Industry Trends - The microelectronics industry experienced a boom from 2014 to 2020, driven by technological advancements, but is now facing oversupply as the market shifts towards software-driven innovations [13][14]. - The materials science sector has seen a growing demand due to the intersection with AI and clean energy technologies, with companies reporting profit increases of 10% to 30% annually [27][28]. - The legal profession is highlighted as increasingly competitive, with a significant portion of opportunities concentrated among a small number of practitioners, emphasizing the need for prospective students to understand the industry's dynamics [37].

Core Viewpoint - The semiconductor industry faces critical challenges in data transmission speed and security, driven by the explosive growth of AI, connected vehicles, 5G, and IoT, leading to increased demand for high-performance computing and low-power chips [1] Group 1: Industry Challenges and Innovations - The bottlenecks in memory bandwidth and data processing security are becoming increasingly prominent [1] - Interface IP and security IP technologies are identified as core drivers for breakthroughs in the industry, directly impacting chip performance, compatibility, and attack resistance [1] Group 2: Company Overview - Rambus, established in 1990, is a pioneer in high-speed interface technology, redefining data transmission standards between memory and systems [1] - Rambus offers a robust product portfolio, including DDR memory interfaces, HBM3/4, and PCIe 5/6 solutions, significantly enhancing performance in data centers and edge computing [1] Group 3: Upcoming Event - Rambus will host a technology discussion on July 9, 2025, in Beijing, focusing on AI and automotive sectors, featuring industry partners and technical experts [2][3] - The event will cover the latest interface and security IP solutions for advanced applications, including quantum-safe encryption and various memory technologies [6] - The afternoon session will delve into automotive security solutions, addressing trends and challenges faced by hardware and software designers in smart connected vehicles [7]

公众号记得加星标⭐️，第一时间看推送不会错过。 去年摩根士丹利发布的《寒冬将至》报告曾为半导体行业浇下一盆冷水。然而，2025年上半年以来， 全 球 芯 片 市 场 正 悄 然 释 放 出 复 苏 信 号 。 尤 其 是 内 存 芯 片 领 域 ， 从 通 用 DRAM 到 高 带 宽 内 存 （HBM），市场价格回升、库存去化、订单恢复，似乎正在书写"春天将至"的新篇章。 信号一：韩国通用DRAM出口激增 韩国作为全球DRAM产业的核心基地，其出口数据是观察行业周期的风向标。自今年2月起，韩国 DRAM出口额结束此前的同比下滑态势，连续四个月实现两位数增长：3月增长27.8%，4月增长 38%，5月增长36%，6月前20天增长25.5%。 （来源：Daeun Lee） 这些数据与"半导体寒冬"的主流叙事背道而驰。相反，它们表明，通用DRAM市场（主要应用于PC 和基础服务器）正快速形成供需紧张格局。据韩国KED Aicel数据显示，6月前20天，韩国DRAM出 口额为2.69万亿韩元（约19亿美元），同比增长25.5%。需注意的是，这一数据不包括如HBM等更 复杂的多芯片封装产品。 TrendForce 指 ...

Core Viewpoint - Xiamen Youxun Chip Co., Ltd. has been accepted for IPO on the Sci-Tech Innovation Board, focusing on the research, design, and sales of optical communication front-end transceiver chips [2] Company Overview - Youxun is recognized as a "national-level manufacturing single champion enterprise" in the optical communication sector [2] - The company was founded by Ke Binglan in 2003, initially focusing on domestic optical communication chips [5] Financial Highlights - The company plans to raise 889 million yuan through the IPO, allocated for various projects including next-generation access network and high-speed data center chip development, automotive chip R&D, and 800G optical communication chip development [3] - Financial performance from 2022 to 2024 shows revenue growth from 339 million yuan in 2022 to 411 million yuan in 2024, while net profit increased from 81.4 million yuan to 77.9 million yuan [4] Shareholding Structure - The shareholding of Youxun is relatively dispersed, with no single shareholder holding more than 30% of voting rights, indicating no controlling shareholder [7] - Ke Binglan directly holds 10.92% of the shares and, along with Ke Tenglong, controls a total of 27.13% of the voting rights [7][8] Management Team - Ke Binglan has been the chairman since the company's inception and was appointed as the general manager in April 2022, while his son, Ke Tenglong, has been involved since 2014 and became the executive vice general manager in August 2022 [8]