➀ Point2 Technology, a fabless chip company, is aiming for a valuation of over 1 trillion won upon its listing on the Korean bourse Kosdaq in 2026; ➁ The company CEO, Sean Park, has stated that they expect revenues of over 10 billion won in 2025, increasing to 50 billion won and 100 billion won in 2026 and 2027 respectively.
Recent #IPO news in the semiconductor industry
➀ SemiFive is expected to exceed $70 million in revenue after only five years of operation; ➁ The company is a Design Solution Partner (DSP) to Samsung Foundry; ➂ SemiFive offers its own SoC design platform to its fabless customers.
1. The IPO market is beginning to thaw in 2025 after several years of slow activity. 2. Lower inflation, interest rate cuts, and a return to dealmaking are encouraging companies to go public. 3. 66 IPOs have been filed, marking a 27% increase from the same period last year. 4. The article discusses the potential risks and opportunities in the current IPO market.
1. NCAA March Madness is a significant financial event with major revenue from media rights, sponsorships, and ticket sales, impacting sports betting and consumer promotions. 2. CoreWeave, backed by Nvidia, plans an IPO with shares ranging from $47 to $55, reporting significant revenue growth but also a net loss in 2024. 3. Sanofi acquires Dren Bio's immunology drug for up to $1.9B, targeting autoimmune indications and expanding its portfolio with a promising Phase 1 trial candidate.
➀ CoreWeave, an AI cloud service provider backed by NVIDIA, has filed for an IPO on the NASDAQ, seeking a valuation of up to 254 billion RMB.
➁ CoreWeave, founded in 2017, has shifted from cryptocurrency mining to selling GPU resources to enterprises after the cryptocurrency crash in 2018.
➃ The company's annual revenue surged by 730% in 2024, reaching 19.15 billion USD, but its annual loss also reached 863 million USD due to heavy investment in AI infrastructure.
1. Nebius' peer CoreWeave filed for an IPO in the US with a valuation over $35 billion; 2. CoreWeave's IPO could be bullish for Nebius; 3. We provide Nebius' valuation based on CoreWeave's IPO valuation; 4. We summarize upcoming catalysts for Nebius.
➀ Muxi Integrated Circuit, a domestic GPU giant, has been rumored to be implementing a layoff plan involving about 20% of its employees (about 200 people) before its IPO to reduce costs and improve the chances of listing success.
➁ Muxi responded to the media, stating that the company regularly conducts personnel adjustment work to optimize personnel allocation, which includes the addition and reduction of personnel and is within the normal scope, not to increase the chances of listing as rumored in the market, and the rumored optimization ratio is also seriously inaccurate.
➂ Muxi, as a star domestic GPU company, has quickly completed four rounds of financing from angel round to A round within one year of its establishment, with a financing amount of tens of billions. Tianyancha shows that Muxi's last round of financing was on August 23, 2024, with investors including Pudong Capital, Shanghai Sci-Tech Fund, Hunan National Innovation Industry Investment, Jiajia Information, and Qixia Capital.
➀ The joint venture between Huawei and Xiaomi has developed the V6s and V8s super motors;
➁ Hunan Huaxiang United Power System Co., Ltd., a hidden champion in the industry with annual revenue exceeding 9 billion yuan, is preparing for an IPO;
➂ Founder Zhu Xingming, the former richest man in Yueyang, has a personal fortune of 13 billion yuan and is listed at 388th in the 2024 Hurun Rich List.
➀ Shanghai GPU unicorn MUXi is implementing a pre-IPO layoff plan, affecting around 200 employees, or about 20% of its workforce.
➁ The company has completed a financing round of 2 billion RMB and has started the A-share listing process.
➂ MUXi has secured several large orders, including an 850 million RMB order for its AI large model training and general-purpose computing GPU.
➀ Zongmu Technology, a leading intelligent driving company, has fallen into a state of shutdown, leaving over 700 employees unemployed.
➁ The company has struggled with employee wage issues since November 2024 and has seen high-level management departures.
➂ Despite securing 9 rounds of financing totaling 2.247 billion yuan, Zongmu Technology has failed to turn a profit, leading to its current predicament.
➀ Zhiyuan Xunrui, as a leading global chip enterprise, achieved remarkable sales of 14.5 billion yuan in 2024, delivering 1.6 billion chips and holding a 13% global market share in mobile chips.
➁ The company has completed a 6 billion yuan equity financing over a year, with an additional 2 billion yuan from Yuanhe Puhua.
➂ The financing will boost the company's growth and position it as a potential candidate for China's largest chip IPO.
➀ Tianyue Advanced has disclosed new details about its Hong Kong IPO plan, including the fundraising details for the 8-inch SiC project.
➁ The company plans to issue up to 15% of its H shares for fundraising, with the funds to be used for expanding production capacity and technological research.
➂ Tianyue Advanced's financial performance shows a strong growth trend, laying a solid foundation for its IPO plan.
➃ The company has achieved significant technical breakthroughs in the 8-inch SiC substrate field, pushing forward the industrial upgrade and market expansion.
➀ An engineer named Hao Tian gave up his 8 million yuan worth of stock options and quit before his company's IPO.
➁ Senior engineer Jun Yuan is optimistic about the company's future and believes that the company will achieve a good financial status after going public.
➂ Sales representative Han Lin faces significant pressure to sell AI chips, which must be operational for the company to generate revenue for IPO approval.
1. December saw six new preferred stock and exchange-traded debt offerings with yields ranging from 6% to 9%; 2. CDx3 preferreds with a score of 10 out of 10 offer an average current yield of 6.57%; 3. Investors can buy new preferred stock shares at wholesale prices on the OTC, potentially avoiding capital loss.
➀ Wang Dongsheng, known as the 'Father of China's Semiconductor Display Industry', has embarked on a transformative journey from 'making screens' to 'making chips'.
➁ Yisiwei Materials successfully submitted an IPO application to the Shanghai Stock Exchange with a valuation of 24 billion yuan in 2024.
➂ China's technology industry needs leaders to fight a hard battle from CRT tubes to the world's first LCD panels, from highly dependent on imports to Yisiwei Materials' independent breakthrough.
➀ Wang Dongsheng, known as the 'Father of China's Semiconductor Display Industry', has embarked on a transformative journey from 'making screens' to 'making chips'.
➁ Yisiwei Materials successfully submitted an IPO application to the Shanghai Stock Exchange with a valuation of 24 billion yuan in 2024.
➂ China's technology industry needs leaders to fight a hard battle from CRT tubes to the world's first LCD panels, from highly dependent on imports to Yisiwei Materials' independent breakthrough.
➀ Kioxia, a renowned NAND flash giant, has determined its IPO price and listed on the Tokyo Stock Exchange on December 18th, with an IPO price of 1455 yen per share and a company valuation of 7840 billion yen.
➁ Kioxia, originally a semiconductor storage division of Toshiba, was forced to be split and sold in 2018 due to debt. The transaction sparked fierce competition, and a consortium led by Bain Capital outbid a group led by Western Digital at the last moment with a bid of 182 billion US dollars.
➂ However, it now appears that Kioxia will become one of the most painful failures in private equity in Japan. The acquisition price in 2018 was 2 trillion yen, and the valuation at the time of listing has shrunk by 61%.
➀ Kioxia's IPO on the Tokyo Stock Exchange valued the company at $5.8 billion. The Bain-led consortium, which previously owned 56.2% of Kioxia, sold a small number of shares to reduce its holding to 50.7%. The consortium paid $18 billion for its stake in 2008. ➁ Before the IPO, other significant shareholders included Toshiba (41%) and Hoya (3%). The Japanese government bailout funds INCJ and DBJ controlled 16.7% of the voting rights. ➂ Kioxia holds a 13.8% share of the NAND market.
➀ Xi'an Yishuiwei Materials, a leading domestic silicon wafer manufacturer, has had its IPO application accepted on the Science and Technology Innovation Board.
➁ The company is the largest 12-inch silicon wafer manufacturer in mainland China, with a global market share of about 7% in terms of production capacity and 4% in monthly shipments.
➂ Established in 2016, Xi'an Yishuiwei has become a strategic supplier to major global silicon wafer suppliers, providing silicon wafers to most of the domestic leading logic wafer fabs.
1. ServiceTitan's stock has surged ~40% since its IPO; 2. The company offers a comprehensive product platform for trades industries with a strong 'land and expand' business model; 3. The stock is currently trading at ~10x forward revenue, offering a rare opportunity to buy a high-growth IPO before it reaches a high valuation.
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