Core Viewpoint - Jiangsu Leadmicro Nano Technology Co., Ltd. is issuing convertible bonds to raise funds for its semiconductor thin film deposition equipment projects, capitalizing on the growing demand in the semiconductor industry driven by technological advancements and market expansion [2][10][12]. Company Overview - The company is based in Wuxi, Jiangsu Province, and is listed on the Shanghai Stock Exchange under the stock code 688147 [2]. - The company specializes in the research, production, and sales of advanced micron and nano-level thin film deposition equipment, primarily serving the semiconductor and photovoltaic sectors [2][4]. Market Context - The global semiconductor market is projected to grow from $412.3 billion in 2019 to $588.4 billion by 2024, with China's market expected to reach $205.9 billion in the same period [2][10]. - The thin film deposition equipment market is crucial for the manufacturing of logic and memory chips, with a significant increase in demand anticipated due to the expansion of wafer fabrication plants [2][10]. Financial Performance - The company's revenue for the reporting periods was 684.5 million yuan, 1.68 billion yuan, and 2.70 billion yuan, with net profits of 19.8 million yuan, 270.4 million yuan, and 226.7 million yuan respectively [2][4]. - The company has faced challenges such as fluctuating operating performance and potential losses due to increased competition and market dynamics [2][4]. Risks and Challenges - The company highlights several risks, including the inability of certain investors to convert bonds into shares if they do not meet the suitability requirements for the Sci-Tech Innovation Board [2][4]. - There is a high concentration of sales among a few customers, with the top five customers accounting for 66.85%, 77.67%, and 50.78% of total revenue in the reporting periods [2][4]. - The company faces risks related to inventory depreciation, high accounts receivable, and potential project delays that could impact financial performance [2][4][5]. Fundraising Purpose - The funds raised from the convertible bond issuance will be used for the construction of an intelligent factory for semiconductor thin film deposition equipment and the expansion of R&D laboratories [2][10][11]. - The company aims to enhance its production capacity and product quality, thereby improving its operational sustainability and profitability [2][10][11].