12月30日，强一半导体(苏州)股份有限公司(以下简称"强一股份")在上海证券交易所科创板正式挂牌上 市，成为科创板第600家上市企业。 强一股份董事长周明在接受《证券日报》记者采访时表示："探针卡是晶圆测试的'桥梁'，全球市场长 期以来主要由境外厂商主导，国内产业发展初期曾面临缺乏成熟经验与配套支撑的局面。2015年，凭借 近20年相关领域制造与管理经验，我看到了国内该产业的发展空间与市场机遇，创立强一股份，聚焦高 端探针卡领域深耕细作，希望为相关核心硬件自主发展贡献力量。" 本次上市，强一股份公开发行3238.99万股，募资金额27.56亿元，将重点投向南通探针卡研发及生产项 目、苏州总部及研发中心建设项目。据周明介绍："南通项目将新增高端探针卡产能，缓解现有产能压 力；苏州研发中心将聚焦前沿技术研发与人才培养。" 展望未来，强一股份将持续加大研发创新力度，以满足不同客户各类晶圆测试需求为目标。同时，不断 提升产品性能、扩充产品种类，深化既有客户服务能力的同时积极拓展境内外新客户，力争成为具有全 球市场竞争力的国产探针卡厂商。 周明表示："当前半导体制程升级与人工智能、汽车电子等下游领域发展，推动高精度探 ...

Core Viewpoint - Qiangyi Semiconductor (Suzhou) Co., Ltd. is in the IPO process, aiming to raise 1.5 billion yuan, with a projected revenue of 641 million yuan and a net profit of 233 million yuan in 2024, marking a nearly 13-fold increase compared to 2023 [1][2][3] Financial Performance - Revenue and net profit have shown consistent growth from 2022 to 2024, with figures of 254 million yuan, 354 million yuan, and 641 million yuan in revenue, and net profits of 15.62 million yuan, 18.66 million yuan, and 233 million yuan respectively [2][3] - The company's net profit growth is significantly attributed to a substantial increase in gross margin and a high dependency on a limited number of clients and suppliers [1][4] Client and Supplier Dependency - The sales to the top five clients accounted for 62.28% to 82.84% of total revenue during the reporting period, indicating a high client concentration, particularly reliance on a single largest client, Company B [3][4] - Sales revenue from Company B represented 37.58% to 25.53% of total revenue over the reporting period, highlighting the critical nature of this relationship [3][4] Related Party Transactions - Related party transactions with Company B also contributed to revenue growth, with related sales accounting for 38.88% to 25.97% of total revenue [4] - The company has been actively seeking domestic suppliers to stabilize its supply chain, with a notable portion of procurement from Nantong Yuan Zhou Li, a company controlled by Qiangyi's actual controller [4][5] Industry Context - The global semiconductor market is projected to grow from $335.9 billion in 2014 to $630.5 billion in 2024, with a compound annual growth rate of 6.50% [6] - The semiconductor probe card market is also expanding, with an expected increase from $1.651 billion in 2018 to $2.651 billion in 2024 [6][7] Product Pricing and Sales - The average selling price of the main products, 2D/2.5D MEMS probe cards, has increased significantly, with prices rising from 315,900 yuan to 817,500 yuan over three years [7][8] - Sales volume of MEMS probe cards has also increased, contributing to a growing share of total revenue, from 53.51% to 87.01% [8] Gross Margin Concerns - The company's gross margin has surged from 40.78% in 2022 to 68.99% in the first half of 2025, raising questions about sustainability compared to industry peers, whose margins range from 30% to 50% [8][9] - The high gross margin may be influenced by factors such as technology monopoly, cost control, or temporary supply-demand mismatches [10]