Xi'an Yicai's Science and Technology Innovation Board IPO has been accepted, making it the largest 12-inch silicon wafer manufacturer in China.

On November 29th, Xi'an Yisaiwei Materials Technology Co., Ltd. (referred to as Xi'an Yicai) had its IPO application accepted by the Shanghai Stock Exchange's Sci-Tech Innovation Board. CITIC SEC is its sponsor and it plans to raise 4.9 billion yuan. The prospectus shows that as a leading domestic 12-inch silicon wafer company, Xi'an Yicai has become the largest strategic supplier of silicon wafers to global silicon suppliers of mainstream storage IDM manufacturers in China, occupying the first or second largest share of purchases. It has supplied to most mainstream production platforms in domestic leading logic wafer foundries, making it one of the preferred silicon wafer suppliers for newly built 12-inch wafer plants in China. Based on statistics of production capacity as of the end of the third quarter of 2024 and average monthly shipments in 2023, Xi'an Yicai is the largest 12-inch silicon wafer manufacturer in mainland China, with corresponding production capacity and average monthly shipments accounting for approximately 7% and 4% of the global total, respectively. The company's products are widely used in the manufacturing of various categories of chips, including NAND Flash/DRAM/Nor Flash storage chips, CPU/GPU/mobile SoCs/embedded MCUs logic chips, power management, display drivers, and CIS chips, which are ultimately used in smartphones, personal computers, data centers, IoT, smart cars, and other terminal products. Currently, the company's first core manufacturing base has been established in Xi'an. The first factory of the project started production in 2023, and the second factory for the IPO project is expected to commence operation in 2024, with production planned to start in 2026. As of the end of the third quarter of 2024, the company's combined capacity has reached 650,000 wafers per month, accounting for approximately 7% of global 12-inch silicon wafer production capacity at the time. According to SEMI's statistics, global demand for 12-inch silicon wafers in 2026 is expected to exceed 10 million wafers per month, with demand from mainland China exceeding 3 million wafers per month. In terms of finances, Xi'an Yicai achieved operating revenues of approximately 208 million yuan, 1.055 billion yuan, 1.474 billion yuan, and 1.434 billion yuan in 2021, 2022, 2023, and the first 9 months of 2024, respectively. During the same period, net profits were approximately -521 million yuan, -533 million yuan, -683 million yuan, and -589 million yuan, respectively.