Core Viewpoint - The article highlights the recent IPO progress of several semiconductor companies in China, indicating a growing trend in the semiconductor industry and potential investment opportunities. Group 1: IPO Progress of Semiconductor Companies - Multiple semiconductor companies, including equipment manufacturers and material suppliers, have announced their IPO advancements, such as Zhongke Instrument, Chengdu Super Pure, and Xinshi Technology [1] - Zhongke Instrument has completed its IPO counseling report and plans to list on the Beijing Stock Exchange after previously attempting to list on the Shanghai Stock Exchange [2] - Chengdu Super Pure has initiated its IPO counseling with Huatai United Securities, focusing on semiconductor etching devices and high-power laser devices [5][6] - Xinshi Technology's IPO application has been accepted by the Shanghai Stock Exchange, aiming to raise 785 million yuan for two major projects [8][12] Group 2: Company Profiles and Market Position - Zhongke Instrument specializes in dry vacuum pumps and vacuum instruments, essential for semiconductor manufacturing processes [3] - Chengdu Super Pure is recognized for its advanced surface treatment processes and high-purity materials, contributing to the semiconductor etching device market [5] - Xinshi Technology is a leading domestic manufacturer of semiconductor-grade perfluoroether rubber seals, breaking the monopoly of foreign companies in this sector [9][11] Group 3: Financial Performance and Projections - Xinshi Technology projects revenues of 130.47 million yuan and 207.55 million yuan for 2023 and 2024, respectively, with a net profit of 32.81 million yuan and 63.09 million yuan [12] - Zhongke Instrument's IPO journey reflects its strategic adjustments and readiness for the capital market, indicating strong governance and compliance [2] Group 4: Industry Trends and Competitive Landscape - The semiconductor industry in China is witnessing a shift towards domestic production capabilities, with companies like Xinshi Technology achieving significant market share and technological advancements [11][24] - The competitive landscape is evolving, with domestic firms increasingly challenging foreign dominance in critical components and technologies [11][19]

Group 1: Company Overview - Chengdu Chaochun (UPAM) is a national high-tech manufacturing enterprise established in 2005, focusing on semiconductor etching devices, high-power laser devices, and special ceramics [1] - The company has developed various processes, including advanced surface treatment, purification processes achieving purity above 5N, and advanced ceramic production processes [1] - Chengdu Chaochun has undergone four rounds of financing, with notable investors including Novartis Capital, Zhenghai Capital, and BYD [1] Group 2: Shareholding Structure - The current shareholding structure shows that Chai Jie controls 49.11% of the voting rights, making him the controlling shareholder and actual controller of the company [1] - Chai Jie's brother, Chai Lin, directly holds 20.99% of the shares, making them combined control approximately 70% of the company's shares [1] Group 3: Company Overview - Langxun Technology, founded in 2010, is a leading integrated circuit testing service provider in China, focusing on R&D and high-end chip testing services [2] - The company provides end-to-end ATE testing services, including wafer testing, final testing, burn-in testing, and system-level testing [2] - Langxun Technology has established high-end testing bases and R&D centers across multiple locations in China, with a focus on smart terminals, core computing, AI, automotive, and communication chip sectors [2] Group 4: Shareholding Structure - The controlling shareholder of Langxun Technology is Xu Zhen, who directly holds 993.73 million shares, accounting for 23.15% of the company [3]

Group 1 - The China Securities Regulatory Commission disclosed the initial public offering and listing guidance report for Chengdu Super Pure Materials Co., Ltd. (referred to as Chengdu Super Pure), with Huatai United Securities as the listing advisory institution [1] - Chengdu Super Pure, established in 2005, is located in Chengdu Shuangliu Airport Development Zone, with over 10,000 square meters of R&D and manufacturing space, focusing on semiconductor etching devices, high-power laser devices, and special ceramics as a national high-tech manufacturing enterprise [1] - The company has independent intellectual property rights and has developed various processes, including advanced surface treatment processes for semiconductor etching devices and MOCVD devices, purification processes achieving material purity above 5N, and advanced ceramic production processes for high-density carbide and nitride ceramics [1] Group 2 - Chengdu Super Pure has completed four rounds of financing, including angel round financing in 2022 with participation from Novartis Capital, Zhenghai Capital, and Guotou Venture [1] - In 2024, the company conducted three rounds of financing (A, B, and B+ rounds), with investors including Zhenghai Capital, Xinxin Venture Capital, BYD, Cornerstone Capital, Woyan Capital, Huatai Zijin Investment, TCL Venture Capital, Chip Dynamics Investment, Fengnian Capital, Zesen Qingquan, Shangqi Capital, and Jianxin (Beijing) Investment, with BYD being the sole investor in the B round [1] Group 3 - The current equity structure shows that Chai Jie controls 49.11% of the voting rights, being the controlling shareholder and actual controller of the company; Chai Jie's brother, Chai Lin, directly holds 20.99% of the shares, acting in concert with Chai Jie, together controlling approximately 70% of the shares [2]

Group 1: IPO Guidance and Trends - In May, the China Securities Regulatory Commission (CSRC) disclosed 17 companies undergoing IPO guidance, bringing the total for 2025 to 123 companies [1] - The number of newly disclosed companies for guidance in May decreased compared to the previous months, with 32, 29, 23, and 22 companies in January to April respectively [1] - Notable companies disclosed in the last week of May include Huaxin New Materials, Tianhai Fluid Control, Chengdu Ultra-Pure Materials, and Chengfeng Technology [1] Group 2: Huaxin New Materials - Huaxin New Materials is the fourth globally and the first domestically to achieve mass production of high-performance polyimide (PI) films, filling a domestic gap and achieving import substitution [2] - The company was established in 2019 with a registered capital of 105 million yuan and has undergone five rounds of financing, attracting investments from notable institutions such as CRRC Capital and National Development Bank [3][4][5][6] - The company completed its IPO guidance registration with Guotai Junan Securities on May 28 [2] Group 3: Tianhai Fluid Control - Tianhai Fluid Control submitted its IPO guidance materials to the Anhui Securities Regulatory Bureau on May 21, with the application accepted on May 28 [7][8] - The company, established in 2012, has seen revenue growth from 2022 to 2024, with figures of 202 million yuan, 253 million yuan, and 287 million yuan respectively, showing year-on-year growth rates of 32.4%, 25.2%, and 13.3% [9] - Tianhai Fluid previously submitted an IPO application in December 2023 but was not accepted due to issues related to shareholding [9] Group 4: Chengdu Ultra-Pure Materials - Chengdu Ultra-Pure submitted its IPO guidance to the Sichuan Securities Regulatory Bureau on May 30, which was accepted [10] - Established in 2005, the company specializes in semiconductor etching devices and high-power laser devices, with a focus on advanced surface treatment processes [10] - The company has completed four rounds of financing, with significant participation from investors including BYD and TCL Venture Capital [11][12] Group 5: Chengfeng Technology - Chengfeng Technology submitted its IPO guidance materials on May 29, which were accepted by the Sichuan Regulatory Bureau [13] - The company, founded in 2009, specializes in the research, manufacturing, and sales of valves, with a significant portion of its revenue coming from domestic sales [14][15] - Despite a decline in net profit over the past two years, the company remains a key player in the valve market, ranking third in the sales of certain valve types [15]

Core Viewpoint - The article discusses the recent trends in IPO counseling registrations in China, highlighting a decrease in the number of new registrations in May compared to previous months, and provides insights into specific companies undergoing the process, including their financial performance and investor interest [1]. Group 1: IPO Counseling Registrations - In May, the China Securities Regulatory Commission (CSRC) disclosed 17 new companies for IPO counseling, bringing the total for 2025 to 123 [1]. - The number of new counseling registrations decreased in May compared to the first four months of the year, which saw monthly registrations of 32, 29, 23, and 22 respectively [1]. Group 2: Company Highlights - Huaxin New Materials (华鑫新材) is noted as the fourth globally and the first domestically to achieve mass production of high-performance polyimide (PI) films, attracting investments from prominent institutions such as CRRC Capital and the National Development Bank [1][2]. - Tianhai Fluid (天海流体) is preparing for a second application to list on the Beijing Stock Exchange after its initial application was not accepted, and it has faced disciplinary actions from the National Equities Exchange and Quotations [1][6][8]. - Chengdu Super Pure (成都超纯) has received backing from major investors including BYD and TCL Venture Capital, and has submitted its IPO counseling application [1][9][10]. - Chengfeng Technology (乘风科技) has experienced a decline in net profit for two consecutive years, despite serving major clients like ExxonMobil and Chevron [1][11][12]. Group 3: Financial Performance - Huaxin New Materials has undergone five rounds of financing since its establishment in 2019, with significant participation from various investment firms [3][4][5]. - Tianhai Fluid reported revenues of 202 million, 253 million, and 287 million yuan for 2022, 2023, and 2024 respectively, with net profits showing a slowdown in growth [7][8]. - Chengdu Super Pure has completed multiple financing rounds, with significant investments from various venture capital firms, including a unique investment from BYD in its B round [10]. - Chengfeng Technology's revenue figures for 2022, 2023, and 2024 were 809 million, 742 million, and 745 million yuan, with net profits declining from 91.21 million to 83.77 million yuan over the same period [12].