Yueya Semiconductor has submitted an application for registration for an IPO on the Shenzhen Stock Exchange's ChiNext board, aiming to raise approximately 1.224 billion yuan.

On July 17th, Zhuhai Venture Semiconductor Co., Ltd. (referred to as Venture Semiconductor) applied for a change in the status of the IPO review on the ChiNext board of the Shenzhen Stock Exchange to "submitted for registration". CITIC SEC is the sponsoring institution, and the company plans to raise 1.2416 billion yuan. The prospectus shows that Venture Semiconductor is mainly engaged in the research and development, production, and sales of advanced packaging materials and products, including IC packaging carriers and embedded packaging modules. The IC packaging carrier products mainly include RF module packaging carriers, ASIC chip packaging carriers, flip chip ball grid array packaging carriers, and power management chip packaging carriers. Embedded packaging modules are semiconductor components in which active and passive components are embedded in the carrier board according to the design and functional requirements of the end product, belonging to the panel-level fan-out packaging products. The company has implemented the industrialization of coreless packaging carrier boards with independent intellectual property copper pillar technology, and developed hybrid embedded packaging technology based on copper pillar technology, making it one of the few companies globally to achieve industrialization of embedded chip technology. This technology can embed wafers and passive components inside the packaging carrier board, greatly reducing the packaging area and enhancing the performance of packaging module products. With its long-term technological accumulation, reliable product quality, and high-quality customer service, Venture Semiconductor has developed leading capabilities in business expansion in the industry, accumulating good brand recognition and quality customer resources both domestically and internationally. The company has a stable customer base, with over 100 domestic and foreign customers, and is continuously expanding to new high-quality customers. The company's main domestic and international high-quality customers include Infineon, Qorvo, Texas Instruments, MPS, Spreadtrum Communications, Maxscend Microelectronics, Vanchip, and the top three companies in the domestic semiconductor packaging and testing industry, JCET Group Co., Ltd., TongFu Microelectronics, and Tianshui Huatian Technology, are also customers of the company. Due to the characteristics of the industry in which the company operates, downstream customers have high certification barriers and supplier selection processes. Once entered into the customer supply chain system, in order to maintain supply chain stability, customers prefer to establish long-term stable cooperative relationships and generally do not easily change suppliers. Therefore, as downstream customers benefit from import substitution, the iterative development of communication technology, and the layout of domestic packaging and testing factories in advanced packaging areas and their high-quality customer resources, through efficient collaboration in the industrial chain, the company's competitiveness and profitability will be further enhanced. Venture Semiconductor's terminal products have high technological requirements, fast updates, and rapid demand changes, placing higher demands on the R&D capabilities of companies in the industry. If the company cannot continue to develop relevant technologies and products to meet customer demand in the future, it may lead to a decline in the company's product sales volume. Therefore, there is a risk that the company's R&D technology may not meet market demand. Financially, for the fiscal years 2023, 2024, and 2025, the company's operating income is expected to be 1.705 billion yuan, 1.796 billion yuan, and 2.089 billion yuan respectively; and the net profit is expected to be 192 million yuan, 207 million yuan, and 307 million yuan respectively.