Group 1 - Company submitted an IPO application to the Hong Kong Stock Exchange, with Haitong International, Jianyin International, and China Merchants Securities International as joint sponsors [1] - Company is a leading provider of metallization interconnection plating materials and key process technologies in China, focusing on wafer-level and chip-level packaging, as well as PCB manufacturing [1] - According to Frost & Sullivan, the company is the largest domestic wet process plating material provider in China by revenue in 2024, and also the largest one-stop plating solution provider in the market [1] Group 2 - Financial data shows the company's revenue for 2022, 2023, and 2024 at 320 million, 312 million, and 410 million RMB respectively, with corresponding gross profits of 103 million, 110 million, and 175 million RMB, leading to gross margins of 32.3%, 35.3%, and 42.8% [1] - Revenue is primarily derived from plating materials and plating services, with plating materials accounting for 80.2% of total revenue in 2024, while plating services contributed 19.8% [1] Group 3 - Company's plating materials and services are critical for electronic packaging production, significantly impacting the performance, mechanical properties, thermal dissipation, and reliability of chips and devices [2] - The global wet process plating materials market is projected to rebound to 40.7 billion RMB in 2024, with an estimated CAGR of 12.6% from 2024 to 2029, reaching 73.7 billion RMB by 2029 [2] - The Chinese wet process plating materials market is expected to grow to 27.5 billion RMB by 2029, with a CAGR of 12.9% from 2024 to 2029, driven by emerging applications in AI and electric vehicles [2] Group 4 - Approximately 45% of the IPO proceeds will be used for the construction and upgrade of new production lines for plating materials and services, while 30% will be allocated for R&D, technological innovation, and product upgrades [2] - About 15% of the funds will be reserved for potential strategic expansion opportunities [2] - Specific allocations include 25% for enhancing plating service capabilities and upgrading production equipment, 10% for expanding plating material capacity and building new production lines, and 10% for establishing an overseas production base in Thailand [3]

Core Viewpoint - Shenzhen Chuangzhi Xinlian Technology Co., Ltd. has officially begun its IPO journey on the Hong Kong Stock Exchange, positioning itself as a leading provider of metallization interconnection plating materials and key process technologies in China [2] Business Overview - Chuangzhi Xinlian focuses on the development of supply chains for plating materials in wafer-level and chip-level packaging, as well as PCB manufacturing [2] - According to Frost & Sullivan, by 2024, Chuangzhi Xinlian is projected to be the largest domestic wet process plating material provider and the largest one-stop plating solution provider in the Chinese market [2] Revenue Breakdown - The company's revenue primarily comes from two business segments: 1. Plating materials business segment, which generates income through the manufacturing and sales of plating materials for the semiconductor and PCB industries [2] 2. Plating services business segment, which provides plating services for silicon wafers, silicon carbide wafers, packaging substrates, and PCBs, charging service fees [2] Industry Impact - The synergy between the two business segments enhances Chuangzhi Xinlian's influence within the industry ecosystem, allowing it to supplement customer production capacity and undertake key tasks in innovative process development [3] - As of December 31, 2024, Chuangzhi Xinlian's chemical nickel-gold and chemical nickel-palladium-gold materials and plating services have been adopted by 4 out of the top 5 power device manufacturers in China, achieving an 80% coverage rate [3] Financial Performance - Chuangzhi Xinlian's total revenue for 2022, 2023, and 2024 was RMB 319.6 million, RMB 311.7 million, and RMB 409.9 million, respectively [4] - The net profit for the same years was RMB 27.3 million, RMB 19.4 million, and RMB 52.7 million, respectively [4] - Revenue from plating materials for the semiconductor industry grew from RMB 31.7 million in 2022 to RMB 48.6 million in 2023, and is expected to reach RMB 75.0 million in 2024, with a compound annual growth rate of 53.8% from 2022 to 2024 [4]

Core Viewpoint - Shenzhen Chuangzhi Xinian Technology Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with Haitong International, Jianyin International, and China Merchants Securities International as joint sponsors [1]. Company Overview - Chuangzhi Xinian is a leading provider of metallization interconnection plating materials and key process technology solutions in China, focusing on wafer-level and chip-level packaging, as well as PCB manufacturing for nearly two decades [1]. - The company is the largest domestic provider of wet process plating materials in China, and also the largest one-stop plating solution provider in the market, according to Frost & Sullivan [1]. Financial Performance - The company has experienced significant fluctuations in financial performance over the past three years, with a revenue of 410 million RMB and a net profit attributable to shareholders of 54.448 million RMB in 2024 [4][5]. - In 2023, the company saw a year-on-year decline in both revenue and net profit, but a notable recovery in 2024 [4]. - The gross profit margin has shown an upward trend, increasing from 32% in 2022 to 43% in 2024 [5]. Revenue Breakdown - Over 80% of the company's revenue in 2024 came from plating materials, with 61.9% of that revenue derived from the PCB industry [3]. - The revenue from semiconductor industry plating materials, chemical plating, and electroplating services has been on the rise in recent years [3]. Revenue and Profit Data - Revenue and profit data for the last three years are as follows: - 2022: Revenue of 319.607 million RMB, net profit of 27.328 million RMB - 2023: Revenue of 311.651 million RMB, net profit of 19.421 million RMB - 2024: Revenue of 409.924 million RMB, net profit of 54.448 million RMB [5]. Future Plans - The funds raised from the listing will be used to build and upgrade new production lines for plating materials and services, as well as for R&D, technological innovation, product upgrades, and potential strategic expansion opportunities [6].