Asia Electric Technology's Sci-Tech Innovation Board IPO has been "inquired", making it the leading supplier of wet cleaning equipment in China.

On July 21, Jiangsu Yadi Technology Co., Ltd. (referred to as Yadi Technology) applied for a change in the status of the Shanghai Stock Exchange's Science and Technology Innovation Board listing review to "inquiry received," with Huatai United Securities as its sponsoring institution, and plans to raise 950 million yuan. The prospectus shows that Yadi Technology is a leading domestic supplier of wet cleaning equipment, mainly engaged in the research, development, production, and sales of wet cleaning equipment in the fields of silicon-based semiconductors, compound semiconductors, and photovoltaics. The company's products are mainly used in the wet cleaning process of semiconductor front-end wafer manufacturing, helping to achieve the localization and technological breakthrough of domestic semiconductor core process equipment. Based on the technical accumulation in the field of silicon-based semiconductors and the technical homogeneity of wet equipment, the company's products have expanded to applications in compound semiconductors, photovoltaics, and other fields, forming a core wet process equipment product system with technological advantages. The company focuses on the research, development, production, and sales of products with independent intellectual property rights, covering mainstream wafer sizes such as 8-inch and 12-inch, and continuously advancing the technical verification and industrial application of advanced process products. Compared with companies in the same industry, Yadi Technology continues to adhere to a differentiation competition strategy through independent research and development. Since its establishment, the company has focused on wet cleaning equipment in the early stages of industrialization, focusing on mature processes, and has gradually become one of the major suppliers in the field of tank cleaning equipment. The company is one of the few in the country that fully covers the three major downstream application areas, and can provide wet cleaning equipment for leading silicon-based semiconductor wafer manufacturers, compound semiconductor manufacturers, and photovoltaic manufacturers in bulk. The semiconductor cleaning equipment developed by Yadi Technology has achieved comprehensive coverage of mainstream wafer sizes in the market, meeting the wet process requirements of tank equipment and single-piece equipment above 28 nm. The company's technical capabilities and market position for tank silicon-based and compound semiconductor cleaning equipment rank among the top in domestic brands. According to Frost & Sullivan's "Independent Market Research Report on China and Global Semiconductor Wet Process Equipment Industry," by 2024, the company's domestic market share of tank wet cleaning equipment ranks second among domestic brands. In the field of advanced processes, the company has also achieved research and development breakthroughs, continuously making core technological advancements. Since its establishment, Yadi Technology has been deeply involved in the domestic semiconductor localization process, providing systemic wet process equipment and process solutions to many mainstream silicon-based semiconductor, compound semiconductor wafer manufacturers, and photovoltaic manufacturers, occupying an important position in the production line. As of now, the company's customers include leading companies in the industry such as Corelink Integrated, Zhuzhou CRRC Times Electric, BYD Company Limited, China Resources Microelectronics, Sanan Optoelectronics, Customer A, Qingdao Xinen, Maxscend Microelectronics, Hua Hong Semiconductor, LONGi Green Energy Technology, etc., achieving domestic technological breakthroughs in some special wet cleaning processes and cutting-edge technology products areas, helping customers achieve localization. The funds raised this time will be used for investment projects determined by the second extraordinary shareholders' meeting in 2025, which will be implemented by the board of directors and mainly used for investment in the following projects: In terms of finance, in the 2022, 2023, and 2024 fiscal years, Yadi Technology achieved operating revenues of approximately 121 million yuan, 442 million yuan, and 580 million yuan respectively; during the same period, the net profits were approximately -93.99 million yuan, 10.368 million yuan, and 85.1205 million yuan.