Newcore Innovation Board IPO "terminated", focusing on areas such as unique storage, mixed signal and three-dimensional integration.

On May 19th, Wuhan Xinxin Integrated Circuit Co., Ltd. (referred to as "Xinxin Shares") had its IPO review status on the Shanghai Stock Exchange Science and Technology Innovation Board changed to "termination". This is because Xinxin Shares and its sponsor have withdrawn their application for the IPO, leading the Shanghai Stock Exchange to terminate the review process based on relevant provisions in the "Shanghai Stock Exchange Stock Issuance and Listing Review Rules". According to the prospectus, Xinxin Shares is a leading domestic semiconductor specialty process wafer foundry enterprise, focusing on specialty storage, analog-digital integration, and three-dimensional integration businesses, providing wafer foundry services for various semiconductor products based on multiple technology nodes and different process platforms. Supported by the specialty storage business and driven by three-dimensional integration technology, the company's business platforms deepen synergy and continue to undergo technological iteration. As of the end of June 2025, the company owns two 12-inch wafer fabs. In the specialty storage field, the company is the largest NOR Flash manufacturer in mainland China and has industry-leading code-type flash memory technology, covering both floating gate (ETOX) and charge trap (SONOS) structures. The company's floating gate process nodes range from 65nm to 50nm, with the 50nm technology platform having leading storage density in the industry; in terms of charge trap technology, the company is the sole global wafer foundry supplier for one code-type flash memory product (Product A). In the analog-digital integration field, the company has a full-process CMOS image sensor manufacturing process, with stable production of BSI and stacked processes for many years. The company's 12-inch RF-SOI process platform has achieved mass production of 55nm products, with leading radio frequency device performance domestically, widely used in wireless communication fields such as smartphones. In the three-dimensional integration field, the company has core technologies such as silicon vias and hybrid bonding. The company's technologies such as dual-wafer stacking, multi-wafer stacking, chip-wafer heterogeneous integration, and silicon interposer applications continue to expand. In terms of revenue composition classified by process platform, taking data from January to June 2025 as an example, specialty storage, analog-digital integration, and three-dimensional integration accounted for 45.23%, 32.52%, and 22.26% of revenue, respectively. Financially, in the years 2022, 2023, 2024, and January to June 2025, the company achieved operating revenues of approximately RMB 3.507 billion, RMB 3.815 billion, RMB 4.258 billion, and RMB 2.438 billion respectively; during the same periods, net profits were RMB 717 million, RMB 394 million, RMB 201 million, and RMB 7.123 million respectively.