IPO Pipeline Overview - As of November 23, there are 268 companies in the IPO pipeline, with 19 on the Shanghai Main Board, 34 on the Sci-Tech Innovation Board, 20 on the Shenzhen Main Board, 27 on the Growth Enterprise Market, and 168 on the Beijing Stock Exchange [1][2]. Newly Listed Companies - Four companies were listed between November 17 and November 23: Southern Power Grid Digital Grid Research Institute Co., Ltd., Xiamen Hengkang New Materials Technology Co., Ltd., Beikong Detection Technology Co., Ltd., and Harbin Daopeng Industrial Co., Ltd. [3] - Southern Power Grid Digital closed at 18.48 CNY per share, with a rise of 224.78%, trading volume of 3.391 billion CNY, and a turnover rate of 75.35% [4]. - Hengkang New Materials closed at 64.55 CNY per share, with a rise of 310.61%, trading volume of 2.270 billion CNY, and a turnover rate of 81.36% [5]. - Beikong Detection closed at 26.50 CNY per share, with a rise of 295.52%, trading volume of 660 million CNY, and a turnover rate of 88.46% [5]. - Harbin Daopeng also closed at 26.50 CNY per share, with a rise of 295.52%, trading volume of 660 million CNY, and a turnover rate of 88.46% [5]. New Counseling Record Companies - Twelve companies were newly recorded for counseling between November 17 and November 23, including Guangdong Jinding Optical Technology Co., Ltd., Zhejiang Changlong Airlines Co., Ltd., and others [6][7]. Companies Passing Review - Five companies successfully passed the review process from November 17 to November 23: Zhejiang Zhenshi New Materials Co., Ltd., Yisiwei (Hangzhou) Technology Co., Ltd., Suzhou Aide Technology Development Co., Ltd., Shanghai Tongling Automotive Technology Co., Ltd., and Tongling Jingqiang Electronic Technology Co., Ltd. [11][12]. Companies Obtaining Registration Approval - Jiangxi Hongban Technology Co., Ltd. and Shaanxi Tourism Culture Industry Co., Ltd. received registration approval between November 17 and November 23 [15][16].

Core Viewpoint - Hefei Chip Valley Microelectronics Co., Ltd. has resumed its IPO counseling process after withdrawing its application in April 2024, indicating a renewed focus on public listing and capital raising [1][4]. Group 1: Company Background - Chip Valley Microelectronics was established in 2014 and specializes in the research, design, production, and sales of semiconductor microwave and millimeter-wave chips, microwave modules, and T/R components [4]. - The company primarily offers products based on GaAs and GaN compound semiconductor processes and provides related technical development services [4]. Group 2: IPO and Fundraising Plans - The company previously submitted an application for listing on the Sci-Tech Innovation Board in May 2023, aiming to raise CNY 850 million (approximately USD 130 million) for microwave chip packaging and testing, module industrialization projects, R&D center construction, and working capital [4]. - The current counseling process is structured into four phases, including the development and implementation of a specific counseling plan, financial training, counseling acceptance, and the preparation of a summary report [4]. Group 3: Ownership Structure - The founder and controlling shareholder, Liu Jiabing, directly holds 28.33% of the company's shares and, along with his spouse Zhang Yuanling, controls 43.60% of the voting rights, making them the actual controllers of the company [4].

Core Viewpoint - Hefei Chip Valley Microelectronics Co., Ltd. (referred to as "Chip Valley Micro") is making a renewed attempt to go public after withdrawing its IPO application 19 months ago, indicating a significant move in the semiconductor industry [1] Company Overview - Chip Valley Micro was established in 2014 and focuses on the research, design, production, and sales of semiconductor microwave and millimeter-wave chips, microwave modules, and T/R components [1] - The company provides a range of products based on GaAs and GaN compound semiconductor processes, along with related technical development services [1] - Chip Valley Micro has received several accolades, including "National High-tech Enterprise," "Key Integrated Circuit Design Enterprise Encouraged by the State," and "2021 China Hidden Unicorn Top 500" [1] IPO History - The company previously submitted its IPO application to the China Securities Regulatory Commission (CSRC) in May 2023 for listing on the Sci-Tech Innovation Board [1] - Less than a year later, Chip Valley Micro voluntarily withdrew its IPO application, and in April 2024, the Shanghai Stock Exchange announced the termination of the review for its IPO [1]