Withdraw application! Xinyi Technology's Shanghai Stock Exchange IPO process hits "terminate" button.

On March 31, Shanghai Ximike Technology Co., Ltd. (referred to as Ximike Technology) changed its IPO review status on the Science and Technology Innovation Board of the Shanghai Stock Exchange to "terminated." Due to Ximike Technology and its sponsor withdrawing the application for listing, the Shanghai Stock Exchange terminated the review for its listing according to the relevant provisions of the "Shanghai Stock Exchange Stock Issuance and Listing Review Rules" Article 63. The prospectus shows that Ximike Technology is a leading domestic enterprise in the field of semiconductor-grade perfluoroether rubber sealing components, focusing deeply on the technical research and application innovation of perfluoroether rubber. It was the first in China to independently develop semiconductor-grade perfluoroether rubber materials and stably produce perfluoroether rubber seals and other key components for semiconductor equipment, effectively breaking the monopoly of foreign companies such as DuPont, GT, and PPE in the field of semiconductor-grade perfluoroether rubber seals in China. Ximike Technology's products are capable of meeting the stringent vacuum sealing requirements of different models and full series points of core process equipment in the semiconductor front-end process, covering advanced and mature process technology nodes and achieving breakthroughs and scale sales in advanced processes such as 232-layer NAND storage chips, 19nm and below DRAM storage chips, and 5nm-14nm logic chips. According to Frost & Sullivan statistics, in 2023 and 2024, the company's sales volume of semiconductor-grade perfluoroether rubber seals ranked third in the Chinese market for two consecutive years and ranked first among Chinese enterprises. The company has grown into a leading domestic enterprise in the high-end market for semiconductor equipment perfluoroether rubber seals. At the industry level, perfluoroether rubber seals are widely used in fields such as semiconductors, LCD panels, photovoltaics, aerospace, and oil and gas exploration due to their excellent performance. The global market size of perfluoroether rubber seals in the semiconductor field was 274.80 billion yuan in 2024, accounting for 87.54% of the market share, and is expected to further expand to 446.20 billion yuan, accounting for 91.10% by 2028. Frost & Sullivan statistics show that the market size of perfluoroether rubber seals in China in 2024 was 7.01 billion yuan, with a market size of 56.80 billion yuan, accounting for 81.00%, ranking first in the semiconductor field. With the continuous growth of industry applications, the market share of semiconductor-grade perfluoroether rubber seals will increase from 81.00% in 2024 to 90.20% in 2029, becoming the most important component of the perfluoroether rubber seals market. According to the prospectus, Ximike Technology's IPO intends to raise 785 million yuan, with 526 million yuan for the research and industrialization project of semiconductor-grade perfluoroether rubber seals, and 259 million yuan for the construction project of the research center. In terms of finances, in the fiscal years 2022, 2023, and 2024, Ximike Technology achieved operating income of approximately 41.5903 million yuan, 130 million yuan, and 208 million yuan, respectively; during the same period, the company achieved net profits of 1.7338 million yuan, 36.3884 million yuan, and 68.9356 million yuan, respectively.