Torense's ChiNext IPO Application Accepted, Products Enter Supply Chains of Naura and AMEC

On December 23, Torense Precision Manufacturing (Jiangsu) Co., Ltd. ("Torense") had its ChiNext IPO application accepted by the Shenzhen Stock Exchange. China International Capital Corporation serves as its sponsor, aiming to raise approximately 1.156 billion yuan.

According to its prospectus, Torense is a leading integrated service provider specializing in R&D, production, and sales of precision metal components for semiconductor equipment. Its product portfolio includes critical process components, structural parts, gas delivery systems, and assembly products. The company also extends its process capabilities to laser equipment, supplying laser cavities and cooling components for high-power lasers.

Torense has established unique competitive advantages through its diversified semiconductor equipment metal components. It has achieved mass production of critical process components such as chambers, liners, heaters, and gas distribution plates, along with complex-structured components featuring multi-layer designs, large cross-sections, and intricate fluid/gas paths like cold plates, multi-tube heating reflectors, and electrostatic chuck bases.

Technologically, the company ranks among China's top-tier manufacturers, with core competencies spanning high-precision machining, welding, and surface treatment. Its vacuum brazing technology leads the domestic market, particularly in multi-layer, multi-channel, and dissimilar-material composite brazing applications. Advanced surface treatments like anodization and semiconductor-grade cleaning complement its precision machining capabilities for micro-hole manufacturing and complex part fabrication.

Torense's integrated process design-manufacturing-inspection system has earned recognition from leading domestic semiconductor equipment makers. Its products have been adopted into the supply chains of Naura Technology Group Co.,Ltd. and Advanced Micro-Fabrication Equipment Inc. China, being deployed in etching, deposition, polishing, and annealing equipment for logic chips, memory chips, and advanced packaging. The company has also entered the supply chain of international laser equipment leader Lumentum, demonstrating global competitiveness.

The proposed IPO involves issuing up to 46,368,423 shares, representing at least 25% of post-issue share capital. Proceeds will fund designated projects after deducting issuance costs. Financially, Torense reported revenues of approximately 283 million yuan (2022), 291 million yuan (2023), 610 million yuan (2024), and 373 million yuan (H1 2025), with corresponding net profits of 33.95 million yuan, 15.30 million yuan, 106 million yuan, and 60.85 million yuan.