IPO Review and Registration Progress - Six companies passed the IPO review last week, including 尚水智能, 固德电材, and others, with a focus on sustainable growth and market demand [2][3] - 尚水智能 reported revenue of 567 million yuan and net profit of 122 million yuan for the first three quarters of 2025, with BYD as its largest customer [2] - 固德电材 achieved revenue of 750 million yuan, up 18.81%, and net profit of 118 million yuan, up 2.52% [2] - 电科蓝天's revenue was 1.708 billion yuan with a net profit of 113 million yuan, focusing on commercial aerospace power supply [3] - 创达新材 plans to raise 300 million yuan for production line construction and working capital, reporting revenue of 323 million yuan and net profit of 53 million yuan [3] - 赛英电子's revenue was 438 million yuan with a net profit of 70 million yuan, facing scrutiny over the qualifications of its independent director [3] - 长裕集团 reported revenue of 1.321 billion yuan and net profit of 175 million yuan, with concerns over potential profit margin declines [4] Upcoming IPOs and New Listings - Nine companies are set to undergo IPO reviews this week, including 大普微, which is notable for being the first unprofitable company to apply for the创业板 [5][6] - 大普微 reported revenues of 962 million yuan and 1.264 billion yuan for 2024 and the first three quarters of 2025, respectively, with a net loss of 191 million yuan [6] - 视涯科技, another unprofitable company, achieved revenue of 293 million yuan, up 54.67%, but reported a net loss of 167 million yuan [7] - 三瑞智能's revenue grew from 362 million yuan in 2022 to 831 million yuan in 2024, with a net profit of 318 million yuan for the first three quarters of 2025 [7] - Five IPO applications were accepted last week, including 绿控传动, which aims to raise 1.58 billion yuan for electric vehicle drive systems [8] - 粤芯半导体, another unprofitable company, plans to raise 7.5 billion yuan, reporting revenues of 1.545 billion yuan in 2022 and a net loss of 1.043 billion yuan [10] New Stock Subscriptions and Market Performance - Three new stocks are scheduled for listing this week, including 纳百川, which focuses on thermal management for electric vehicles [12] - 沐曦股份, known as the "second domestic GPU stock," saw a significant first-day increase of 692.95% after listing [13] - Upcoming subscriptions include 陕西旅游 and 新广益, with expected revenues of 951 million to 1.117 billion yuan and 657 million yuan, respectively, for 2025 [14][15]

成立近八年时间，江苏展芯半导体技术股份有限公司（以下简称"江苏展芯"）正式向A股市场发起冲击。深交所官网显示，公司创业板IPO于12月17日获得 受理。本次冲击IPO背后，公司2024年净利出现明显下滑，不过2025年上半年净利已有所回升。此外，梳理江苏展芯招股书，公司与A股公司宏达电子关系 紧密，宏达电子被认定为江苏展芯关联方。针对公司相关问题，江苏展芯方面于12月18日接受了北京商报记者的采访。 | 公司全称 | 江苏展芯半导体技术股份有限公司 | 公司简称 | | --- | --- | --- | | 受理日期 | 2025-12-17 | 更新日期 | | 审核状态 | 已受理 | 预计融资金额(亿元 | 公司回应净利变动 江苏展芯成立于2018年3月，是一家专注于高可靠模拟芯片及微模块产品的研发设计、测试及销售的国家级专精特新"小巨人"企业，主要服务于军工电子产 业链，配套供应高可靠集成电路及微模块产品。 本次冲击IPO背后，江苏展芯净利呈现明显波动。 本次冲击上市，江苏展芯拟募集资金约8.9亿元，扣除发行费用后，将投入高可靠性电源管理芯片及信号链芯片研发及产业化项目、总部基地及研发中心建 设项目 ...

Core Viewpoint - Jiangsu Zhanchip Semiconductor Technology Co., Ltd. has received acceptance for its IPO on the ChiNext board, aiming to raise approximately 890 million yuan for various projects [1] Company Overview - Jiangsu Zhanchip specializes in the research, design, testing, and sales of high-reliability analog chips and micro-module products [1] - The company is recognized as a national-level specialized and innovative "little giant" enterprise [1] Fundraising Purpose - The funds raised from the IPO will be allocated to the development and industrialization of high-reliability power management chips and signal chain chips [1] - Additional investments will be made in the construction of the headquarters and R&D center, as well as a testing center [1] - A portion of the funds will also be used to supplement working capital [1]