The Zhuzhou Keneng Innovation Board IPO has been queried, and its market share of indium oxide and gallium oxide in China ranks first.

On May 28th, Zhuzhou Keneng New Materials Co., Ltd. (referred to as Zhuzhou Keneng) applied for the change in the status of the Shanghai Stock Exchange Sci-Tech Innovation Board listing review to "inquiry received," with Shen Gang Securities acting as its sponsor institution, intending to raise 560 million yuan. According to the prospectus, the company's main business is the research and development and production of core key basic materials required for the synthesis of compound semiconductors such as gallium, indium, ITO, IGZO, and other target materials. The company's main products include high-purity gallium, high-purity indium, refined indium, indium oxide, gallium oxide, bismuth, bismuth oxide, etc., mainly used in compound semiconductors such as indium phosphide, indium antimonide, gallium arsenide, gallium nitride, gallium oxide, tellurium zinc cadmium, and ITO, IGZO synthesis, as well as alloys, fine chemicals, and other high-end manufacturing fields, ultimately widely applied in scenes such as 5G/6G and high-speed optical communication, next-generation displays, artificial intelligence (including computing infrastructure, intelligent terminals, etc.), intelligent connected new energy vehicles, aerospace, high-end electronic devices, and more. The company has established a variety of core key basic material systems required for the synthesis of compound semiconductors such as high-purity indium, gallium, tellurium, zinc, cadmium, arsenic, antimony, carbon, and aluminum, becoming a leading domestic and internationally advanced provider of compound semiconductor materials, providing core material support for the research and production of the domestic semiconductor industry. As the only domestic manufacturer whose high-purity indium and high-purity gallium products have been certified and cooperated with multiple global leading compound semiconductor companies, the company has been directly involved in international competition for many years, providing supporting services for international leading compound semiconductor enterprises such as Freiberger, Wafer, and Sumitomo Electric, and has covered major domestic compound semiconductor manufacturers such as Beijing Tongmei, Sanan Optoelectronics, Suzhou Naview, Yunnan Xinyao, Zhejiang Kangpeng, Beijing Mingji, etc., as well as research units such as the Chinese Academy of Sciences Institute of Semiconductors. The company competes with leading global manufacturers such as Indium Corporation, Dowa, Rasa, and 5NPlus, deeply participating in the supply chain of globally renowned compound semiconductor companies, possessing strong international market competitiveness and influence, and making positive contributions to achieving independent control of key electronic information materials and implementing national export control policies. According to the statistics of the Rare Metal Branch of the China Nonferrous Metals Industry Association, the company's domestic market share of high-purity gallium and high-purity indium ranked first for three consecutive years from 2023 to 2025. The company is a leading supplier of high-purity indium for ITO and IGZO target materials, occupying a dominant position in the domestic market and basically covering major ITO and IGZO target material manufacturers globally. Its core customers include leading downstream industry manufacturers such as Mitsui Metals, ANP, Guangyang Technology, Longhua Technology Group, Fujian Acetron New Materials, Yiru Technology, Hebei Hengbo, and others domestically and internationally, with Mitsui Metals, a global leader in ITO target materials, being the sole supplier of high-purity indium in China. According to the statistics of the Rare Metal Branch of the China Nonferrous Metals Industry Association, from 2023 to 2025, the company's domestic market share of indium oxide and gallium oxide ranked first, with the company's refined indium products holding the top market share in 2023 and 2024 and ranking third in 2025. The company has independently built a leading low-cost, high-output general-purpose research and development platform for electronic information materials in China, forming an integrated technology system of processes, equipment, and detection capabilities, and has developed seven core technologies to effectively support the company's products from high-purity to ultra-high purity iteration, from single-element to compound extension, and from single variety to multiple varieties expansion, as well as reserve cutting-edge products such as single-walled carbon nanotubes. Financially, in 2023, 2024, and 2025, the company achieved operating income of approximately 609 million, 787 million, and 1.027 billion RMB respectively, with net profits of 39.56 million, 71.99 million, and 136 million RMB respectively during the same period.