瑞财经 王敏 一周内，华泰联合证券有限责任公司（以下简称"华泰联合证券"）"连撤"两单半导体科创板IPO项目。 具体来看，1月14日，上交所披露关于终止对江苏亚电科技股份有限公司（以下简称"亚电科技"）科创板IPO的决定，直接原因是公司及保荐机构华泰联合证 券撤回申报。 据悉，沁恒微科创板IPO于2025年6月30日获得受理，次月20日收到首轮问询。 招股书显示，沁恒微专注于连接技术和微处理器（简称"处理器"或"内核"）研究，是一家基于自研专业接口IP、内核IP构建一体化芯片的集成电路设计企 业。 华泰联合证券是华泰证券在业内率先打造的以市场化创新能力领先行业的专业投资银行子公司，致力于为企业、机构投资者和政府提供全面综合的金融服 务，在承销保荐、并购重组、债券等业务领域始终位于行业前列。 据证监会网上办事服务平台更新信息显示，华泰联合证券在2026年1月14日正式接收了其提交的《证券公司申请增加部分业务种类核准》相关材料。 由此，亚电科技成为2026年科创板IPO首家终止审核的公司。 亚电科技科创板IPO于2025年6月27日获得受理，次月21日收到首轮问询，但未见公布问询回复。公司本次IPO拟募资9.50 ...

Core Viewpoint - The article discusses the IPO application of Yadian Technology, a supplier of wet cleaning equipment for semiconductors, highlighting its growth, market position, and future prospects in the semiconductor industry [2][4][45]. Group 1: Company Overview - Yadian Technology was established in March 2019 and is based in Suzhou, focusing on the large-scale application of wet cleaning technology in silicon-based semiconductors, compound semiconductors, and photovoltaic sectors [7]. - The company has achieved a significant market position, ranking second among domestic brands in the market share of slot-type wet cleaning equipment in China by 2024 [7]. - Yadian Technology's registered capital is 83.97 million yuan, and its founder, Qian Cheng, serves as the chairman and general manager [7]. Group 2: Financial Performance - Yadian Technology's revenue has shown substantial growth, with figures of 1.21 billion yuan in 2022, 4.42 billion yuan in 2023, and projected 5.80 billion yuan in 2024 [16]. - The net profit has improved from a loss of 940 million yuan in 2022 to a profit of 850 million yuan in 2024 [16]. - The company plans to raise 950 million yuan through its IPO to fund high-end semiconductor equipment industrialization and advanced process research and development projects [9]. Group 3: Product and Market Position - Yadian Technology offers over 20 types of semiconductor wet cleaning equipment, with a focus on high-tech applications in the semiconductor industry, including 14nm process products [23]. - The company has established a competitive edge in the photovoltaic wet cleaning equipment sector, becoming a core supplier for leading companies like Longi Green Energy [26]. - The main products include wet cleaning equipment for silicon-based and compound semiconductors, which accounted for 71.01%, 74.97%, and 69.71% of the main business revenue from 2022 to 2024, respectively [18]. Group 4: Clientele and Market Concentration - Major clients of Yadian Technology include well-known companies such as Huazhong Microelectronics, BYD, and Longi Green Energy, with the top five customers accounting for 76.25% of the main business revenue in 2024 [32][33]. - The company has a high customer concentration, with significant sales to a few key clients, indicating a reliance on major contracts for revenue [32]. Group 5: Research and Development - As of December 31, 2024, Yadian Technology employs 133 R&D personnel, representing 29.82% of its total workforce, with a total of 214 patents, including 111 invention patents [27][29]. - The company has been focusing on self-research and domestic production of key components, which has led to a decrease in procurement concentration from major suppliers over the past three years [34]. Group 6: Ownership and Control - Qian Cheng, the founder and chairman, directly holds 22.59% of Yadian Technology and controls an additional 18.70% through partnerships, totaling 41.29% of the voting rights [36][40].