Core Viewpoint - The company Shenghe Jingwei, in which the company holds a stake, has received approval for its initial public offering (IPO) and listing on the Sci-Tech Innovation Board [1] Group 1 - Shenghe Jingwei is an advanced packaging and testing enterprise for integrated circuits, starting with 12-inch mid-range silicon wafer processing [1] - The company provides a full range of advanced packaging and testing services, including wafer-level packaging (WLP) and chiplet multi-chip integration packaging [1]

Core Viewpoint - Shenghe Jingwei Semiconductor Co., Ltd. has responded to the second round of IPO inquiry from the Sci-Tech Innovation Board, with CICC as the sponsor [2] Group 1: Company Structure and Shareholding - The company has no actual controller, and major shareholders holding more than 5% of shares, including Advpackaging, have committed to a 36-month lock-up period starting from the listing date, with a total lock-up ratio of 39.22% [2] - There are interconnections among several shareholders, such as Puhua Chuangyu, Puhua Zhixin, and Hua Capital, which can be traced back to three natural person shareholders: Liu Yue, Chen Datong, and Wu Haibin [2] Group 2: Board and Management Relationships - The board consists of 9 directors, with some directors having relationships with shareholders, including being appointed by relevant shareholders or holding more than 5% equity in related shareholders [4] - The company has confirmed that there are no undisclosed relationships between senior management and shareholders, aside from those already disclosed [4] Group 3: Director Backgrounds - The company provided a detailed table of directors and their relationships with shareholders, indicating various levels of involvement and shareholdings [5] - Notable positions include the Chairman and CEO, who holds 18.14% of the equity in the employee stock ownership platform, and other directors with similar ties to shareholder entities [5] Group 4: Business Overview - Shenghe Jingwei is an advanced packaging and testing enterprise in the integrated circuit industry, focusing on 12-inch silicon wafer processing and providing advanced packaging services such as wafer-level packaging (WLP) and multi-chip integration packaging [2] - The company aims to support high-performance chips, particularly GPUs, CPUs, and AI chips, by enhancing performance through heterogeneous integration beyond Moore's Law, achieving high computing power, high bandwidth, and low power consumption [2]

Core Viewpoint - Shenghe Jingwei Semiconductor Co., Ltd. has received acceptance for its IPO on the Sci-Tech Innovation Board, indicating a significant step in its growth trajectory in the semiconductor industry [3]. Company Overview - Shenghe Jingwei is an advanced packaging and testing enterprise for integrated circuits, focusing on 12-inch silicon wafer processing and providing wafer-level packaging (WLP) and multi-chip integration packaging services [3]. - The company aims to support high-performance chips, particularly GPUs, CPUs, and AI chips, through heterogeneous integration methods that enhance performance metrics such as computing power, bandwidth, and energy efficiency [3]. Financial Performance - The company reported revenues of 1.633 billion yuan, 3.038 billion yuan, and 4.705 billion yuan for the years 2022, 2023, and 2024 respectively, with a projected revenue of 3.178 billion yuan for the first half of 2025 [3]. - Net profits for the same periods were -329 million yuan, 34.13 million yuan, 214 million yuan, and 43.5 million yuan for the first half of 2025 [3]. Market Position - According to Gartner, Shenghe Jingwei is projected to be the 10th largest packaging and testing company globally and the 4th largest domestically by 2024, with the highest compound annual growth rate in revenue among the top ten companies from 2022 to 2024 [3]. Shareholding Structure - As of the date of the prospectus, the largest shareholder is Wuxi Chanfang Fund with a 10.89% stake, followed by a group of shareholders from the China Merchants Bank system with a combined 9.95% [4]. - The company has no controlling shareholder or actual controller, ensuring a dispersed shareholding structure where no single shareholder can dominate the shareholder meetings [5].