On December 25, Shenzhen Dapu Microelectronics Co., Ltd. (Dapu Micro) successfully passed the listing committee review for its initial public offering on the Shenzhen Stock Exchange's ChiNext board. Guotai Haitong Securities served as the sponsor for the offering, which aims to raise approximately 1.878 billion yuan.
The company's prospectus reveals that Dapu Micro primarily engages in the research, development, and sales of data center enterprise-grade SSD products. It stands as an industry leader and one of the very few domestic providers of semiconductor storage products capable of full-stack in-house development—encompassing "controller chips + firmware algorithms + modules"—while achieving mass production.
Dapu Micro specializes in data center enterprise SSDs, with product generations covering PCIe 3.0 to 5.0, comprehensively meeting the diverse needs of various clients. During the reporting period, the company's cumulative shipments of enterprise SSDs exceeded 4,900PB, with over 75% of these shipments utilizing its self-developed controller chips.
According to IDC data, the company has consistently ranked among the top players in the domestic enterprise SSD market over the past three years, even as international manufacturers continue to dominate the landscape. Dapu Micro remains steadfastly committed to a technology and innovation-driven strategy, capitalizing on storage technology trends to pioneer internationally competitive products and solutions.
The company's PCIe SSD series boasts exceptional read/write speeds, durability, low latency, and an average failure rate significantly below the standards set by JEDEC (Solid State Technology Association), positioning its product performance at an internationally advanced level. Simultaneously, Dapu Micro continues to advance cutting-edge storage developments, being among the first global storage manufacturers to mass-produce enterprise-grade PCIe 5.0 SSDs and high-capacity QLC SSDs.
It is also one of the very few storage manufacturers worldwide with the capability to supply both SCM SSDs and computational storage SSDs, two types of leading-edge storage products. The company maintains a skilled R&D team with expertise in advanced storage technologies and extensive industry experience, continuously investing in research resources to ensure its products remain competitive.
As of June 30, 2025, Dapu Micro has secured 162 domestic and international invention patents. Several of its enterprise SSD technologies, including Computational Storage Drives, Intelligent Multi-Stream, and Intelligent Failure Prediction, are considered industry-leading.
Following approval at the company's first interim shareholders' meeting in 2025, the net proceeds from the IPO, after deducting issuance costs, will be allocated to the following projects in order of priority. Financially, for the fiscal years 2022, 2023, 2024, and the first half of 2025, Dapu Micro reported operating revenues of approximately 557 million yuan, 519 million yuan, 962 million yuan, and 748 million yuan, respectively.
During the same periods, the company recorded net profits of approximately -534 million yuan, -617 million yuan, -191 million yuan, and -354 million yuan.
Comments