Shanghai Super Silicon Seeks 49.65 Billion Yuan IPO Despite Losses

On June 13, the Shanghai Stock Exchange received an initial public offering (IPO) application from Shanghai Super Silicon Semiconductor Co., Ltd., a company widely recognized as a "unicorn" in the semiconductor industry. This application marks the latest addition to the growing list of unprofitable companies seeking to list on the Science and Technology Innovation Board (STAR Market).

Shanghai Super Silicon aims to raise 49.65 billion yuan through its IPO, with the funds earmarked for projects such as the expansion of 300mm thin-layer silicon epitaxial wafer production and the development of high-end semiconductor silicon materials. Despite its ambitious plans, the company remains in a loss-making position as of the end of 2024. This development follows a trend where several unprofitable enterprises have successfully gained approval for IPOs on the STAR Market since the implementation of the "科创板八条" policy.

In November of the previous year, Xi'an Yushengwei Material Technology Co., Ltd., the largest 12-inch silicon wafer manufacturer in the country, submitted its IPO application and was accepted for review. The company is a strategic supplier of silicon wafers to major global storage IDM manufacturers, holding the first or second largest market share in the domestic market and ranking sixth globally. In March of this year, Beijing Anrui Microelectronics Technology Co., Ltd., a company specializing in the design of radio frequency and analog integrated circuits, also received approval for its IPO application. Beijing Anrui was the first in the domestic market to achieve large-scale production and delivery of L-PAMiD products to major brand customers.

The approval of Shanghai Super Silicon's IPO application underscores the capital market's strong support for high-tech enterprises. Currently, there are 10 other unprofitable companies, including Beiqing Life and Heyuan Biology, in the IPO review process. This trend highlights the STAR Market's commitment to fostering innovation and technological advancement, even for companies that have not yet achieved profitability. The "科创板八条" policy has played a crucial role in providing a streamlined pathway for these companies to access capital markets, thereby promoting growth in sectors such as semiconductors, new materials, and advanced manufacturing.