Vietnam's semiconductor Shenzhen Stock Exchange GEM IPO has been accepted, with plans to raise 1.22416 billion yuan.

On September 30th, the IPO of Zhuhai YA Semiconductor Co., Ltd. (referred to as YA Semiconductor) on the Shenzhen Stock Exchange's ChiNext board has been accepted for review. CITIC SEC is its sponsor institution, with plans to raise 1.22416 billion yuan. The prospectus shows that YA Semiconductor is mainly engaged in the research and development, production, and sales of advanced packaging key materials and products, including IC packaging carrier boards and embedded packaging modules. It is one of the earliest mainland enterprises to produce IC packaging carrier boards in China, and one of the first in the world to achieve mass production of "coreless" IC packaging carrier boards using the proprietary patent technology of "copper pillar stack-up method". It is also one of the first domestic manufacturers to complete the R&D of FC-BGA packaging carrier boards and successfully put them into mass production. With long-term technical accumulation, reliable product quality, and excellent customer service, YA Semiconductor has developed leading business expansion capabilities in the industry, accumulating good brand recognition and high-quality customer resources at home and abroad. The company has formed a stable customer base, currently totaling more than 100 domestic and international customers, and continuously expanding to new high-quality customers. Its major domestic and international high-quality customers include Infineon, Qorvo, Texas Instruments, MPS, Spreadtrum Communications, Maxscend Microelectronics, Vanchip, and others, while the top three companies in the domestic semiconductor packaging and testing industry, JCET Group Co., Ltd., TongFu Microelectronics, and Tianshui Huatian Technology, are also customers of the company. With rich, high-quality customer resources and a good brand image, the company has established a leading market position. In the future, the continuous development of applications in areas such as 5G, artificial intelligence, big data, and cloud computing will further drive the company's performance. The funds raised in this offering are closely related to the existing business, aiming to expand and deepen the existing business, focusing on investments in embedded packaging modules and IC packaging carrier boards. In terms of finance, during the reporting period, benefiting from the good development trend of downstream industries and the company's leading technological capabilities and product performance, the company's operating income has steadily increased, reaching 810.9 million yuan in the first half of 2025. Net profit has also shown good performance, with net profit for 2024 recovering and increasing compared to 2023. According to the prospectus, YA Semiconductor's terminal products have high technical requirements, fast technological updates, and rapid changes in demand, placing higher demands on the research and development capabilities of companies in the industry. If the company cannot continue to develop relevant technologies and products to meet customer demands in the future, it may lead to a decline in product sales. Therefore, the company faces the risk of technology research and development not meeting market demands.