Group 1 - The recent surge in Hong Kong IPOs includes multiple new listings, indicating a vibrant market environment reminiscent of 2021 [1][2] - Shenzhen Chuangzhi Xinian Technology Co., Ltd. (Chuangzhi Xinian) has submitted its IPO application to the Hong Kong Stock Exchange, focusing on semiconductor packaging materials and technology [3][9] - The company previously attempted an A-share listing but withdrew its application in May 2023, citing strategic business considerations [3][4] Group 2 - Chuangzhi Xinian was founded in November 2006 and has undergone significant ownership changes, with the current controlling shareholder being Yao Cheng, who holds approximately 66.75% of the voting rights [5][6] - Yao Cheng's daughter, Dr. Yao Yu, also plays a key role in the company, serving as the General Manager and R&D Director [7][8] Group 3 - The company has raised a total of 589 million yuan in investments from various institutions, including Shenzhen Capital Group and the National Integrated Circuit Industry Investment Fund [7] - As of April 2025, the company's valuation was approximately 2.722 billion yuan [8] Group 4 - Chuangzhi Xinian's revenue from coating materials for 2022, 2023, and 2024 was 3.12 billion yuan, 2.75 billion yuan, and 3.29 billion yuan, respectively, with a notable increase in revenue from coating services [12][16] - The company's revenue and profit have fluctuated due to the cyclical nature of the downstream electronics industry, with a rebound expected in 2024 driven by demand from AI, electric vehicles, and data centers [14][16] Group 5 - The wet process coating materials market in China is projected to grow significantly, with an expected market size of 27.5 billion yuan by 2029, reflecting a compound annual growth rate of 12.9% from 2024 to 2029 [22] - Chuangzhi Xinian ranks sixth in the Chinese wet process coating materials market, holding a 2.7% market share [26][28] Group 6 - The company faces credit risks associated with accounts receivable, which have increased over the years, indicating potential challenges in cash flow management [19][29] - R&D investment is crucial for the company, with a total of 85.2 million yuan spent on R&D during the reporting period, representing an R&D expense ratio of approximately 8.2% [18]

智通财经APP获悉，据港交所6月9日披露，深圳创智芯联科技股份有限公司(简称：创智芯联)向港交所主板递 交上市申请，海通国际、建银国际、招商证券国际为其联席保荐人。 招股书显示，创智芯联是一家金属化互连镀层材料和关键工艺技术的方案提供商，致力于推动晶圆级和芯片级 封装，以及PCB制造领域镀层材料供应链发展。公司已开发出完整的化镀及电镀材料产品矩阵，全面覆盖晶圆 级封装、芯片级封装及PCB制造的应用场景。 根据弗若斯特沙利文的资料，按2024年收入计，公司是中国市场中最大的国内湿制程镀层材料提供商，同时是 中国市场最大的一站式镀层解决方案提供商。 公司的收入主要来自一站式服务解决方案所包含的镀层材料业务和镀层服务业务。其中，镀层材料业务是公司 的主要业务，通过制造和销售用于半导体及PCB行业化镀及电镀工艺的镀层材料产生收入。 公司的镀层材料及服务覆盖应用于半导体及PCB行业的电子封装领域两大核心镀层工艺：化镀与电镀。具体而 言，主要产品包括化学镍金/化学镍钯金、电镀铜及无氰电镀金镀层材料。 镀层服务业务方面。管理该业务分部时，公司向客户提供硅晶圆、碳化硅晶圆及封装基板、PCB的镀层服务， 并收取服务费用。 两大 ...