据上交所官网公告，上市审核委员会定于 3 月 5 日审议 重庆臻宝科技股份有限公司 （下称 "臻宝科技"）首次公开发行股 票并在科创板上市的事项。公开资料显示，臻宝科技深耕集成电路及显示面板设备核心零部件领域，核心产品涵盖硅、石 英、碳化硅和氧化铝陶瓷等设备零部件，同时布局熔射再生、阳极氧化和精密清洗等表面处理服务。凭借独树一帜的一体 化业务模式、行业领先的技术实力与持续攀升的市场表现，公司已成为半导体及面板制造设备领域国产替代进程中的关键 力量之一。 一体化模式破局，细分领域市占率第一 在集成电路与显示面板制造产业中，设备零部件是不可或缺的基础核心支撑，其性能、质量与加工精度直接决定了生产设 备的运行可靠性和稳定性。然而由于我国在以上领域起步较晚，设备关键零部件及相关核心材料都被海外企业垄断，不仅 推高了国内企业的采购成本，更让行业面临地缘政治带来的断供风险，严重制约了国内芯片制造的自主化进程。 成立于2016年的臻宝科技聚焦这一痛点，从原材料切入，凭借持续的自主研发，成功攻克大直径单晶硅棒拉制、化学气相 沉积碳化硅、陶瓷造粒粉体等核心技术，实现了硅、碳化硅、陶瓷等关键原材料的自主生产，为后续业务布局奠定了 ...

Investment Rating - The industry investment rating is "Overweight" [1] Core Viewpoints - The semiconductor revenue of the company is expected to account for 85.51% of its total revenue in 2024, showing a continuous increase from 67.31% in 2022 and 80.38% in 2023. Conversely, the revenue share from the display panel segment is projected to decrease from 32.69% in 2022 to 14.37% in 2024 [4][24] - The company has made significant technological breakthroughs in semiconductor equipment components, achieving domestic substitution for several key parts and enhancing its R&D investment in critical areas such as silicon carbide components and semiconductor electrostatic chucks [4][23] - The company has established strong partnerships with major domestic and international clients, ranking first in the domestic market for silicon and quartz components with market shares of 4.5% and 8.8%, respectively [5][24] Summary by Sections 1. Company Overview - The company has developed an integrated business platform combining "raw materials + components + surface treatment" over nearly a decade, focusing on vacuum chamber components for integrated circuits and display panels [18] - The company has expanded its product offerings to include components for advanced process nodes in semiconductor manufacturing, such as 14nm and below, and high-generation AMOLED products [19] 2. Semiconductor Revenue Growth - The revenue from semiconductor equipment components is projected to be the largest revenue source, accounting for 81.33% of the company's total revenue in 2024 [4][27] - The semiconductor and display panel markets are continuously expanding, driving rapid growth in surface treatment services [4][46] 3. Market Position and Collaboration - The company has established stable business relationships with leading domestic semiconductor manufacturers and has successfully expanded its client base to include international companies [23][24] - The company ranks second in the domestic market for non-metal components and fourth for surface treatment services, with a market share of 1.9% and 2.8%, respectively [6][24] 4. Product and Service Offerings - The company's surface treatment services include precision cleaning, anodizing, and thermal spraying, which enhance the performance and lifespan of components used in extreme process environments [58] - The company has achieved breakthroughs in high-density coating preparation technology, improving the corrosion resistance and stability of components in advanced process environments [58]

Core Viewpoint - Chongqing Zhenbao Technology Co., Ltd. has officially submitted its IPO application to the Shanghai Stock Exchange, focusing on providing manufacturing equipment components and surface treatment solutions for the integrated circuit and display panel industries [1] Group 1: Company Overview - Zhenbao Technology specializes in manufacturing vacuum chamber components and surface treatment solutions for the integrated circuit and display panel industries, with main products including silicon, quartz, silicon carbide, and alumina ceramic components [1] - The company has established a comprehensive business platform integrating "raw materials + components + surface treatment," continuously advancing key semiconductor material preparation technologies and surface treatment techniques [1][4] Group 2: Market Position and Partnerships - The company has formed long-term stable partnerships with major domestic integrated circuit and display panel manufacturers, contributing to the upgrade of manufacturing processes and equipment components [2] - Zhenbao Technology's business covers leading domestic storage chip manufacturers and display panel manufacturers, ensuring supply chain security through domestic component substitution [2] Group 3: Product and Technology Development - Zhenbao Technology has achieved mass production of key components such as curved silicon upper electrodes and high-purity silicon carbide rings, supplying advanced process integrated circuits and 3D NAND flash memory chip manufacturing [3] - The company has developed proprietary technologies in the preparation of semiconductor materials and precision processing, establishing a solid foundation for its research and development capabilities [4] Group 4: Fundraising and Future Plans - The company aims to raise 1.398 billion yuan through the IPO to invest in projects related to semiconductor precision components and materials production, as well as R&D center construction [4][5] - The fundraising projects are designed to enhance the company's technological research and development capabilities and will not alter its existing business model [5]