New Stock News | Xinde Semiconductor Passes HKEX Hearing, Focused on Semiconductor Packaging and Testing Technology Solutions

According to the disclosure by the Hong Kong Stock Exchange on October 21, Jiangsu Xinde Semiconductor Technology Co., Ltd. (referred to as: Xinde Semiconductor) has passed the listing hearing for the Main Board of the Hong Kong Stock Exchange, with Huatai International as the sole sponsor. The prospectus shows that Xinde Semiconductor is a semiconductor packaging and testing technology solutions provider, primarily engaged in developing packaging designs, providing customized packaging products, and packaging product testing services. According to Frost & Sullivan, the Group's advanced packaging product portfolio includes BGA, LGA, WLP, 2.5D/3D, as well as FC-QFN and FC-SOT, while its traditional packaging products include WB-QFN. In the "post-Moore era" where transistor density growth is approaching its scale limits, relying on new semiconductor packaging architectures (such as miniaturization, thinning, high efficiency, heterogeneous integration and other advanced packaging technologies) as the key link connecting chip design and applications has become the key DRIVE for improving chip performance, efficiency, and functional flexibility. The company is one of the enterprises in China with advanced packaging technology capabilities, able to drive breakthroughs in semiconductor innovation technologies in the "post-Moore era" and support the development wave of the "AI+ era." Based on revenue from semiconductor advanced packaging and testing in 2025, the company ranks seventh among general OSAT companies in China, with a market share of 0.6%. General OSAT provides advanced packaging and testing services for a wide variety of chips used across different industries, and possesses flexible technical capabilities to meet the needs of different customers. The OSAT industry is inherently capital-intensive, typically requiring substantial upfront capital investment before the relevant production facilities can generate returns at a commercially sustainable scale. During the track record period, the company has been in a gross loss position. In terms of production capacity, the designed capacity of the company's Nanjing production base increased from approximately 4.014 billion units in 2023 to 5.582 billion units in 2024 and 6.411 billion units in 2025, while its actual output increased from approximately 2.499 billion units to 4.314 billion units and 5.417 billion units, respectively. As a result, its utilization rate increased from 62.3% in 2023 to 77.3% in 2024 and 84.5% in 2025. For the four months ended April 30, 2026, its designed capacity and actual output were approximately 2.144 billion units and 1.716 billion units, respectively, with a utilization rate of 80.0%, compared with 72.7% in the same period of 2025. The Yangzhou production base commenced operations in July 2025 and is still in the capacity ramp-up stage. In terms of financials, for the years 2023, 2024, 2025, and the four months ended April 30, 2026, the company's revenue was approximately RMB 509 million, RMB 827 million, RMB 1,012 million, and RMB 360 million, respectively; during the same periods, the loss for the year was approximately RMB 359 million, RMB 377 million, RMB 483 million, and RMB 162 million, respectively.