Jingyi Micro has successfully passed the IPO review of the Shanghai Stock Exchange Listing Committee. It is currently the only domestic equipment supplier that has achieved overseas bulk sales of 8-inch CMP equipment.

On February 5th, Beijing Jingly Microtechnology Co., Ltd. (referred to as Jingly Micro) was approved to be listed on the Sci-Tech Innovation Board of the Shanghai Stock Exchange. The IPO is sponsored by CITIC SEC, with a planned fundraising of 1.6 billion yuan. According to the prospectus, Jingly Micro is mainly engaged in the research and development, production, sales, and technical services of semiconductor equipment. Its main product is Chemical Mechanical Polishing (CMP) equipment and its accessories, and it also provides technical services. CMP equipment achieves efficient removal of excess materials on the wafer surface and global nano-level planarization through the synergistic effect of chemical etching and mechanical grinding, mainly used in the field of integrated circuit manufacturing. During the reporting period, the composition of the company's main business revenue is as follows: During the reporting period, with the rapid growth of its business scale, Jingly Micro's procurement amount showed an increasing trend. The procurement amounts of raw materials in different periods were 116.90 million yuan, 275.23 million yuan, 295.34 million yuan, and 88.59 million yuan respectively. The company mainly purchased mechanical standard parts, customized mechanical parts, fluid control components, electrical and electronic components, and other raw materials from companies such as Robostar Co., Ltd., Beijing Lingde Technology Development Co., Ltd., Suzhou Hangling Micro Precision Components Co., Ltd., Beijing Kangruiming Technology Co., Ltd., Shanghai Peimagnesium Electromechanical Technology Co., Ltd., and Fujimai Semiconductor Precision Industry (Shanghai) Co., Ltd. Through long-term cooperation, the company has established deep strategic cooperation relationships with well-known domestic and foreign integrated circuit manufacturers. CMP equipment has been widely used in the mass production lines of Semiconductor Manufacturing International Corporation, domestic customers A, World Advanced, and Unisem, and other domestic and foreign advanced integrated circuit manufacturers. The global CMP equipment market is mainly dominated by Applied Materials from the United States and Ebara from Japan, which are highly monopolistic. The main domestic enterprises engaged in CMP equipment business are the company and Hwatsing Technology. The company and its predecessor, the CMP Division of the Institute 45, have been committed to the research and development, industrialization, and self-sufficiency of CMP equipment. In 2017, the CMP Division of the Institute 45, the company's predecessor, developed the first domestically-owned 8-inch CMP equipment with independent intellectual property rights and entered the production line of Semiconductor Manufacturing International Corporation for verification in the same year, filling the gap in the operation of domestically-made 8-inch CMP equipment in the integrated circuit manufacturing production line. Since its establishment in 2019, the company has completed the bulk sales of 8-inch CMP equipment and successfully achieved industrial application. It has been awarded the "Outstanding Equipment Supplier - 100% Replacement Rate of 8-inch CMP Equipment" by the Tianjin Integrated Circuit Industry Characteristic Process Innovation Alliance and has achieved 100% replacement of imported CMP equipment in some customer production lines. Based on the international market, the company is currently the only equipment supplier in China that achieves bulk sales of 8-inch CMP equipment overseas. The company's 12-inch CMP equipment has completed process verification of Cu process in the international mainstream integrated circuit production lines with a 28nm process. The equipment performance and technical indicators can meet the requirements of the customer's production line. As of the date of signing this prospectus, the company has obtained orders from multiple customers. At the same time, the company grasps the opportunities for the development of the third-generation semiconductor and has launched domestically-produced 6/8-inch compatible CMP equipment, which is mainly used for silicon-based semiconductor materials. This equipment can be used for special surface polishing processes including silicon carbide, gallium nitride, and other third-generation semiconductor materials. As of the end of 2023, the company has sold one set of 6/8-inch compatible CMP equipment for third-generation semiconductor materials to domestic customer A. In terms of financials, Jingly Micro achieved operating revenue of approximately 99.84 million yuan, 220 million yuan, 506 million yuan, and 309 million yuan in the years 2020, 2021, 2022, and the first half of 2023 respectively. During the same period, the company achieved net profits of approximately -9.76 million yuan, 14.18 million yuan, 128 million yuan, and 93.3 million yuan.