Micron Technology's GEM IPO has been accepted, focusing on the research and development innovation and scale production of MLCC products.

On April 28th, Guangdong Weirong Electronic Technology Co., Ltd. (referred to as Weirong Technology) IPO on the Shenzhen Stock Exchange ChiNext has been accepted. Huatai United Securities is the sponsoring institution, intending to raise 1.675 billion yuan. The prospectus shows that Weirong Technology is a national high-tech enterprise specializing in the research and development, production, and sales of high-end chip multilayer ceramic capacitors (MLCC) focusing on miniaturization, high capacity, and high reliability. Its products are widely used in consumer electronics, AI server-based industrial equipment, and automotive electronics. Since its establishment in 2017, Weirong Technology has been focusing on the research and innovation of MLCC products and has developed into a leading domestic MLCC manufacturer. According to Frost & Sullivan data, based on MLCC revenue in 2024, the company ranks third among mainland Chinese manufacturers. With long-term technical accumulation and continuous innovation, Weirong Technology has built a complete chain of key technical capabilities covering functional ceramic material formulation, product structure design, nanoscale powder dispersion, ultra-thin ceramic film formation, precision graphic printing, high-precision stacking and compression, rapid co-firing of thin ceramic and metal electrodes, and other key areas. Its overall technological strength is at the industry's leading level. As of the end of March 2026, the company holds 101 patents, including 34 invention patents. The breadth and performance of the company's products rank among the industry's forefront. It has established three core product systems: consumer, industrial, and automotive, extensively used in consumer electronics, AI server-based industrial equipment, and automotive electronics. In the consumer electronics sector, the company's ultra-miniature MLCC products hold a leading position and are one of the few manufacturers capable of mass production and large-scale supply of miniaturized MLCCs in sizes such as 008004, 01005, and 0201. According to Frost & Sullivan data, based on product sales volume in 2024, the company's ultra-miniature MLCC ranks first in the Chinese market and second globally, only behind Murata. In the industrial equipment sector, the company's MLCC products have a high capacity advantage. With the leading high-precision stacking and compression technology domestically, the company has achieved a stacking process of over 1,200 layers. Leveraging this core technological breakthrough, the company's industrial MLCCs in sizes 0805 and 1206 can achieve capacitances of 100F and 220F respectively. These models have been supplied in bulk to top server manufacturers, filling the supply gap for mainland Chinese manufacturers. In the automotive electronics field, the company's MLCC products excel in reliability. The company has completed the development of a full-size series of onboard MLCC products from 0201 to 1210, and is one of the few domestic manufacturers that have passed the IATF16949 system certification and meet AEC-Q200 standards for onboard MLCC production. It has established cooperation with several well-known automotive manufacturers and their Tier1/Tier2 suppliers to achieve mass supply of onboard MLCCs. The funds raised in this issuance, after deducting issuance expenses, are intended to be allocated to the following projects: In terms of financials, the company achieved operating revenues of approximately 1.041 billion yuan, 1.512 billion yuan, and 1.845 billion yuan in the fiscal years of 2023, 2024, and 2025 respectively; during the same period, net profits were approximately 57.143 million yuan, 235 million yuan, and 269 million yuan respectively.