CSRC approves Hengyunchang's IPO registration on the Shanghai Stock Exchange Sci-Tech Innovation Board.

On December 4, the China Securities Regulatory Commission issued a reply approving the initial public offering of shares of Shenzhen Hengyunchang Vacuum Technology Co., Ltd. It is reported that Hengyunchang plans to list on the Shanghai Stock Exchange's Science and Technology Innovation Board, with CITIC SEC as the sponsor institution, aiming to raise 1.55 billion yuan. The prospectus shows that Hengyunchang is a leading domestic supplier of core components for semiconductor equipment, mainly engaged in the research and development, production, sales, and technical services of plasma radio frequency power systems, plasma excitation devices, plasma DC power supplies, and various accessories. It also introduces core components related to vacuum acquisition and fluid control, providing overall solutions for core components around plasma processes. According to Frost & Sullivan statistics, the market size of plasma radio frequency power systems in the mainland China semiconductor industry is projected to be 6.56 billion yuan by 2024. The market for plasma radio frequency power systems in the mainland China semiconductor industry still shows a competitive landscape dominated by overseas giants MKS and AE. By 2024, among domestic manufacturers of plasma radio frequency power systems in the mainland China semiconductor industry, Hengyunchang ranks first in market share and holds a leading market position.