Shenghe Crystal Micro Technology's IPO on the Science and Technology Innovation Board has been accepted, making it the tenth largest integrated circuit packaging and testing company in the world.

On October 30, Shenghejingwei Microelectronics Co., Ltd. (referred to as Shenghejingwei) submitted its application for listing on the Shanghai Stock Exchange Science and Technology Innovation Board (STAR Market). CICC is its sponsor and it plans to raise 4.8 billion yuan. According to the prospectus, Shenghejingwei is a leading global integrated circuit wafer-level advanced packaging and testing company, starting with advanced 12-inch middle-stage silicon wafer processing, and further providing full-process advanced testing services such as wafer-level packaging (WLP) and core multiple chip integration packaging, dedicated to supporting various high-performance chips, especially graphic processors (GPUs), central processors (CPUs), artificial intelligence chips, etc. Through the heterogeneous integration method beyond Moore's Law, it achieves comprehensive performance improvement in high computing power, high bandwidth, low power consumption, and more. Since the beginning of its business, the company has adopted advanced manufacturing and management systems in the front-end wafer manufacturing process, with core multiple chip integration packaging as its development direction and goal. Currently, the company has become one of the earliest, most advanced, largest in production scale, and most complete enterprises in the field of core multiple chip integration packaging in mainland China, with the capability to keep pace with the world's leading enterprises in the above-mentioned cutting-edge fields. In the field of middle-stage silicon wafer processing, the company is one of the first enterprises in mainland China to embark on and realize mass production of 12-inch bump manufacturing, and the first enterprise to provide 14nm advanced process bumping services, filling the gap in mainland China's high-end integrated circuit manufacturing industry. Subsequently, the company has successively broken through the high-density bumping technology of several more advanced process nodes, entering the international advanced node integrated circuit manufacturing industry chain. According to Zhoushi Consulting's statistics, by the end of 2024, the company has the largest 12-inch bumping production capacity scale in mainland China. In the field of wafer-level packaging, based on leading middle-stage silicon wafer processing capabilities, the company has rapidly achieved the research and industrialization of 12-inch large-size wafer-level chip packaging (wafer-level fan-in packaging, WLCSP), including 12-inch Low-KWLCSP suitable for more advanced technology nodes and ultra-thin chip WLCSP with rapid market growth. According to Zhoushi Consulting statistics for the year 2024, the company is the leading enterprise in mainland China in terms of 12-inch WLCSP revenue scale, with a market share of approximately 31%. In the field of core multiple chip integration packaging, the company has a technology platform layout that can comprehensively match the global leading enterprises, especially for the most mainstream 2.5D integration based on silicon through-silicon via interposer (TSV Interposer). The company is one of the earliest enterprises in mainland China to mass produce in this area, representing the most advanced level of mainland China in this technology field and having no technical gap with the world's leading enterprises. According to Zhoushi Consulting statistics for the year 2024, the company is the leading enterprise in mainland China in terms of 2.5D revenue scale, with a market share of approximately 85%. In addition, the company is continuously enriching and improving 3D integration (3DIC), three-dimensional packaging (3D Package) and other technology platforms to achieve breakthroughs in the more cutting-edge key technology areas of the integrated circuit manufacturing industry, creating new growth points for future business performance. The company is a leading integrated circuit advanced testing company in terms of revenue scale and rapid growth globally. According to Gartner's statistics for the year 2024, the company is the tenth largest in the world and the fourth largest domestically in terms of testing companies, and the compound annual growth rate of the company's operating income from 2022 to 2024 ranks first among the top ten companies in the world. In its main business areas, the company has taken a leading position in providing various services to customers on a large scale in mainland China. According to Zhoushi Consulting's statistics, as of the end of 2024, the company is the largest enterprise in mainland China in terms of 12-inch bumping production capacity; in the year 2024, the company ranked first in terms of 12-inch WLCSP and 2.5D revenue scale in mainland China. The proceeds from this offering, minus the issuance costs, will be invested in the following projects: Financially, in FY 2022, FY 2023, FY 2024, and Jan-Jun 2025, the company achieved operating income of approximately 1.633 billion yuan, 3.038 billion yuan, 4.705 billion yuan, and 3.178 billion yuan; during the same period, the net profits were approximately -329 million yuan, 34.13 million yuan, 2.14 billion yuan, and 4.35 billion yuan.