A shares subscription | Yitang shares (688729.SH) open for subscription The market share of dry glue removal equipment and fast heat treatment equipment ranks second in the world

On June 27th, Yi Tang Semiconductor (688729.SH) started its IPO with an issuance price of 8.45 yuan per share and a maximum subscription limit of 41,000 shares. The P/E ratio is 51.55 times, and it belongs to the Shanghai Stock Exchange, with Guotai Haitong as its sponsor. According to the prospectus, Yi Tang Semiconductor is a semiconductor equipment company headquartered in China, with research and development, manufacturing bases in China, the United States, and Germany, and operates globally. It mainly engages in the research, development, production, and sales of wafer processing equipment required in the integrated circuit manufacturing process, providing integrated circuit manufacturing equipment and process solutions including dry etching equipment, rapid thermal processing equipment, and dry cleaning equipment to global integrated circuit manufacturers. During the reporting period, the company's main raw materials are mechanical, electrical, mechatronics, and gas delivery system components. The company has established long-term and stable supply cooperation relationships with suppliers H, Supplier I, Supplier K, and other suppliers. During the reporting period, the company mainly adopts a production model based on sales orders, designing, producing, and manufacturing according to customer demand, and mainly adopts a direct sales-based sales model. The company's dry cleaning equipment and rapid thermal processing equipment have been applied on the production lines of many internationally renowned integrated circuit manufacturers and have achieved large-scale installations. The dry etching equipment has been applied on the production lines of many internationally renowned integrated circuit manufacturers and is continuously expanding market share. The company has been operating in the integrated circuit manufacturing equipment industry for many years and is an important supplier with global visibility and recognition, with products that have international competitiveness. The company's products have been adopted by many global leading memory chip manufacturers, logic circuit manufacturers, and other integrated circuit manufacturers, serving customers that cover the top ten chip manufacturers globally and leading chip manufacturers in China. As of the end of June 2024, the company's global cumulative installation of products has exceeded 4,600 units and is in a leading position in the corresponding subfields. According to Gartner's statistics, the market share of the company's dry cleaning equipment and rapid thermal processing equipment in 2023 both rank second globally. In terms of finance, in the fiscal years 2021, 2022, 2023, and January to June 2024, Yi Tang Semiconductor achieved operating income of approximately 3.241 billion yuan, 4.763 billion yuan, 3.931 billion yuan, and 2.09 billion yuan respectively; with net profits of approximately 181 million yuan, 383 million yuan, 309 million yuan, and 248 million yuan respectively during the same period.