A recent disclosure on the China Securities Regulatory Commission (CSRC) website revealed that Xpeedic Technology (Shanghai) Co., Ltd. ("Xpeedic Semiconductor") and its guidance sponsor CITIC Securities have submitted a completion report for their IPO guidance to the Shanghai Securities Regulatory Bureau.
CITIC Securities stated in its report conclusion that after the guidance period, Xpeedic Semiconductor has established the necessary corporate governance structure, accounting foundation, and internal control systems required for a listed company. The firm and its key stakeholders, including directors, senior management, and major shareholders, have demonstrated a comprehensive understanding of capital market regulations and disclosure responsibilities.
This development marks a clear direction for Xpeedic Semiconductor's capital plans, following its IPO guidance registration earlier this year and the subsequent termination of its acquisition deal by Empyrean Technology.
Founded in 2010, Xpeedic specializes in electronic design automation (EDA) software development, offering full-stack solutions from chip to system-level design. The company made global headlines in 2021 by launching the first 3DIC Chiplet advanced packaging EDA platform.
The company's leadership team includes co-founder and Chairman Dr. Feng Ling, a semiconductor veteran with over two decades of experience at companies like Motorola and Cadence, and President/CEO Wenliang Dai, who previously served as senior technical consultant at Cadence's Shanghai R&D center.
Xpeedic has attracted investment from prominent institutions including SMIC Capital and Shanghai IoT Venture Capital Fund. The company won the prestigious 2023 National Science and Technology Progress Award and received recognition at the 2025 China International Industry Fair for its self-developed 3D IC Chiplet simulation platform Metis.
In 2025, Xpeedic accelerated its capital market activities, filing for A-share IPO guidance in February. While a proposed acquisition by Empyrean Technology fell through in July due to disagreements on core terms, the company has now clearly resumed its independent IPO plans.
The EDA industry, where Xpeedic operates, remains highly concentrated with three global giants controlling 74% of the $19.25 billion global market in 2024. However, domestic Chinese EDA firms are gaining ground, with localization rates expected to reach 19% by 2025.
Industry observers note Xpeedic's differentiated strategy focusing on advanced packaging and AI-driven EDA solutions positions it well in the evolving semiconductor landscape, avoiding direct competition with established players while carving out its own market niche.
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