Shanghai Superconductor Technology Innovation Board IPO has been accepted, with a domestic market share of over 80% for the second generation high-temperature superconductor tape.

On June 18th, Shanghai Superconductor Technology Co., Ltd. (referred to as Shanghai Superconductors) had its IPO on the Shanghai Stock Exchange Sci-Tech Innovation Board accepted. CICC is its sponsor institution, with plans to raise 1.2 billion yuan. The prospectus shows that Shanghai Superconductors is a high-tech enterprise focused on the research, production, and sales of high-temperature superconducting materials. High-temperature superconducting materials, with their unique physical properties, can be widely used in controlled nuclear fusion, superconducting power, large scientific devices, high-end manufacturing, advanced medical, and high-speed transportation fields, representing the forefront of the new materials industry. The company's main product is second-generation high-temperature superconducting tapes, which are currently the mainstream high-temperature superconducting materials on the market. The mainstream applications of second-generation high-temperature superconducting tapes are in high electricity and high field scenarios, and in recent years have been used in controlled nuclear fusion, superconducting power, superconducting magnetic control single crystal furnaces, superconducting induction heating devices, and gradually penetrating into fields such as superconducting motors, superconducting maglev trains, and MRI equipment. As a technical leader in China's high-temperature superconducting materials, the company has independently developed and manufactured production lines, making it one of the two manufacturers in the world that have achieved mass production of second-generation high-temperature superconducting tapes with an annual output of over a thousand kilometers (12mm wide). The company has established a core technology system covering the entire process of second-generation high-temperature superconducting tape production, including equipment development, raw material formulation, coating technology, cutting and packaging, quality control, and monitoring. Relying on advanced technological levels, excellent product performance, and stable supply capabilities, the company has established good cooperative relationships with numerous well-known domestic and foreign downstream enterprises or research institutions, with customers including Southern Power Grid, Chinese Academy of Sciences, Lianchuang Superconducting, Energy Singularity, Xinghuan Jueneng, CRRC, CFS Company, TE Company, etc. In industry competition, currently, there are only two manufacturers globally that have achieved annual production of over a thousand kilometers of second-generation high-temperature superconducting tapes, namely Shanghai Superconductors and FFJ. According to the February 2025 proof issued by the Shanghai New Materials Association, the company's market share of second-generation high-temperature superconducting tapes domestically surpasses 80%, ranking first for three consecutive years from 2022 to 2024. The funds raised from this public stock offering, after deduction of issuance expenses, will be used entirely for investments in the following projects: Financially, in 2022, 2023, and 2024, Shanghai Superconductors achieved operating income of approximately 35.77 million yuan, 83.34 million yuan, and 240 million yuan respectively; during the same period, the company realized net profits of approximately -27.53 million yuan, -4.14 million yuan, and 72.01 million yuan respectively.