Shanghai Jifeng Electronics Co., Ltd. (Jifeng Electronics) has had its application for an initial public offering on the Shenzhen Stock Exchange's ChiNext board accepted. The company aims to raise approximately 923.75 million yuan, with Everbright Securities Company Limited serving as the sponsor.
According to its prospectus, Jifeng Electronics is a full-function, one-stop solution provider of semiconductor testing services and testing hardware products. It caters to the testing requirements of companies across the entire semiconductor industry chain, including chip design, wafer manufacturing, and packaging. Its services encompass third-party laboratory testing and analysis, testing hardware products, volume production services (mass production testing and electronic manufacturing services), engineering sample packaging, and other related operations.
The company's testing services and hardware products are capable of comprehensively covering various chip types, such as digital, analog, memory, power, radio frequency, and complex SoC chips. It possesses the capability to test high-end chips including CPUs, GPUs, memory chips, and AI chips. The company can meet testing demands for advanced processes (with its most advanced case covering 3nm chips), advanced packaging (such as 2.5D and 3D packaging), mature processes, and specialized manufacturing technologies.
To better serve key clients and enhance response speed and service quality, Jifeng Electronics has established subsidiaries in major semiconductor industry hubs across China, including Shanghai, Beijing, Hangzhou, Shenzhen, and Chengdu.
Leveraging its comprehensive, one-stop model and strong technical capabilities and service quality, the company has established cooperative relationships with over 3,000 clients within the semiconductor industry chain. Its clientele spans the entire spectrum from chip design and wafer manufacturing to packaging and testing, and includes well-known enterprises such as Qualcomm and Jcet Group Co.,Ltd..
Within its third-party laboratory testing and analysis segment, the company primarily procures testing and analysis instruments and laboratory consumables. The instruments include specialized equipment like scanning electron microscopes, transmission electron microscopes, focused ion beam microscopes, and semiconductor chip electrostatic discharge and latch-up effect test systems. Consumables such as ion sources, chemical reagents, sandpaper, and carriers are used to support the analysis process.
For its testing hardware products segment, Jifeng Electronics mainly purchases electronic components, including PCB boards, sockets, chips, connectors, structural parts, capacitors, and resistors.
In its volume production services segment, the company procures specialized equipment like probe stations, testers, and sorters for mass production testing operations. For its electronic manufacturing services (EMS), it purchases equipment such as printers, placement machines, and reflow ovens.
Key suppliers to Jifeng Electronics during the reporting period included companies such as Advantest and Thermo Fisher Scientific.
Financially, the company reported operating revenues of approximately 443 million yuan, 583 million yuan, and 669 million yuan for the 2023, 2024, and 2025 fiscal years, respectively. Net profit for the same periods was approximately 20.45 million yuan, 54.38 million yuan, and 91.26 million yuan.
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