Investors focusing on A-share new stock subscriptions should mark their calendars. Based on the current issuance schedule, two new stocks will be available for subscription next week.
On August 3, the Beijing Stock Exchange newcomer Jie Li Technology can be subscribed, which is being hailed as the "first chip design stock" on the BSE. On August 7, the Shanghai Stock Exchange STAR Market debutant Pin Precision Laser can be subscribed, known as the "first precision laser stock" on the A-share market.
Jie Li Technology: A System-on-Chip Design Firm
Jie Li Technology's subscription code is 920138, with an issue price of 18.86 yuan per share and a price-to-earnings ratio of 14.99 times, compared to the industry average of 73.78 times. The company will issue a total of 33 million shares, with 29.7 million shares available for online subscription. Investors participating in the online subscription can apply for up to 1.485 million shares.
Jie Li Technology focuses on integrated circuit design for system-on-chip (SoC) products, targeting fields such as Bluetooth audio and video, smart wearables, and smart IoT terminals. It provides high-specification, flexible, and highly integrated chip products to global markets. Currently, its products are integrated into the supply chains of mobile phone brands like Xiaomi, Realme, Honor, vivo, Meizu, Transsion, JBL, and boAt, as well as appliance brands such as TCL, Haier, Skyworth, and Bull.
The integrated circuit industry is a crucial foundation for the global information technology sector and a key indicator of a country or region's comprehensive competitiveness. The industry chain primarily includes three major segments: IC design, IC manufacturing, and IC packaging and testing. IC design sits at the start of the chain, responsible for chip R&D and design, with domestic representatives including HiSilicon, Unisoc, Bestechnic, and Jie Li Technology.
From 2023 to 2025, Jie Li Technology reported operating revenues of 2.931 billion yuan, 3.12 billion yuan, and 2.804 billion yuan, respectively, with net profits attributable to shareholders of 623 million yuan, 791 million yuan, and 596 million yuan. The company forecasts its full-year 2026 operating revenue and net profit to be 3.103 billion yuan and 630 million yuan, respectively, representing year-on-year growth of 10.66% and 5.71%.
Pin Precision Laser: A Market Pioneer in Precision Lasers
Pin Precision Laser's subscription code is 787826. Its issue price and PE ratio have not yet been disclosed, but the reference industry average PE is 69.20 times. The company will issue a total of 10 million shares, with 2.4 million shares available for online subscription. Investors participating in the online subscription can apply for up to 2,000 shares, requiring a Shanghai market capitalization of 20,000 yuan for the maximum subscription.
Pin Precision Laser targets fields such as quantum computing, quantum precision measurement, wafer manufacturing, wafer inspection, wafer stealth dicing in the semiconductor sector, as well as cutting-edge research areas like laser interferometric lithography and laser remote sensing. It develops innovative precision laser technology routes, offering laser products with precise control over wavelength, linewidth, noise, power, and pulses, supporting the localization of China's quantum technology and semiconductor industry chains.
In the domestic quantum technology market, its products serve institutions like the Chinese Academy of Sciences and Tsinghua University, as well as quantum tech companies like QuantumCTek, Huayi Quantum, and Guoyi Quantum, supporting the rapid development of basic research and technological applications. In the international quantum technology market, its products serve universities and research institutes like Harvard University, University of Colorado Boulder, and Massachusetts Institute of Technology. In terms of power indicators for specific wavelength laser products, Pin Precision Laser has achieved international leadership.
From 2023 to 2025, Pin Precision Laser reported operating revenues of 148 million yuan, 292 million yuan, and 418 million yuan, respectively, with net profits attributable to shareholders of 60.46 million yuan, 116 million yuan, and 159 million yuan. The company forecasts its first-half 2026 operating revenue to be between 230 million and 260 million yuan, a year-on-year increase of 27.58% to 44.22%, and net profit attributable to shareholders to be between 90 million and 105 million yuan, a year-on-year increase of 26.93% to 48.08%.
The prospectus indicates that as semiconductor process requirements increase, the performance demands for related equipment continue to rise, subsequently driving up demand for precision components like precision lasers.
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