The first IPO application of the Year of the Horse has been accepted.

On February 25th, Jiangsu Xinhua Semiconductor Technology Co., Ltd.'s application for the STAR Market IPO was accepted, marking the first IPO acceptance case of the Year of the Horse. Xinhua Technology mainly engages in the research, production, and sales of electronic-grade polysilicon for the semiconductor industry, covering all application fields including 12-inch wafers, 8-inch wafers, 4-6 inch wafers, and silicon components. Its top ten customers include Xi’an Yicai, Hoshine Silicon Industry, TCL Zhonghuan, Lianao Micro, Ferrotec, Yuyan Silicon, Zhongjing Technology, and others. In 2024, the company held over 50% market share in China’s domestic high-purity electronic-grade polysilicon for integrated circuits. For this IPO, Xinhua Technology plans to raise 1.32 billion yuan to fund multiple polysilicon projects, high-purity silicon material R&D bases, and to supplement working capital. (Shanghai Securities News)