Xi'an Yicai (688783.SH), a leading domestic 12-inch silicon wafer company, plans to publicly issue 538 million shares

According to Zhitong Finance App News, Xi'an Yicai (688783.SH) disclosed a prospectus. The number of shares the company plans to issue this time is about 538 million shares, accounting for 13.32% of the company's total share capital after this issuance. Senior management and core employees plan to participate in this strategic placement through an asset management plan. The total number of participants in the strategic placement will not exceed 10% of the current issuance scale, or 53.78 million shares; at the same time, the total subscription amount will not exceed 153.28 million yuan. The final number of strategic placements will be determined after the issuance price is determined on T-2. The sponsor will arrange for the relevant subsidiary China Securities Investment to participate in the strategic placement of this offering. The initial follow-up ratio is expected to be 5% of the current issuance, or 26.89 million shares. The initial inquiry date for this offering is October 13, 2025, and the subscription date is October 16, 2025. The company will apply for listing on the Science and Technology Innovation Board of the Shanghai Stock Exchange as soon as possible after the issuance is completed.

Adhering to the long-term vision of “becoming a great and respected enterprise in the field of semiconductor silicon materials”, the company continued to focus on R&D, production and sales of 12-inch silicon wafers during the reporting period. Based on the average monthly shipment volume in 2024 and production capacity statistics as of the end of 2024, the companies are the number one 12-inch silicon wafer manufacturers in mainland China and the sixth largest in the world. The average monthly shipment volume and production capacity as described above accounted for about 6% and 7% of the world over the same period. Meanwhile, as of the end of June 2025, the company is the manufacturer with the largest number of authorized domestic and foreign invention patents in the field of 12-inch silicon wafers in mainland China.

As a leading domestic 12-inch silicon wafer company, the company has gradually been recognized by global wafer customers. The annual shipment volume increased from 2.3462 million wafers in 2022 to 6.254,600 sheets in 2024, with a compound growth rate of about 63% during the period. During the reporting period, the company's main financial indicators gradually improved. The company's revenue increased from 1,055 billion yuan in 2022 to 2,121 billion yuan in 2024, with a compound growth rate of about 42%. Net cash flow from the company's operating activities has continued to be positive since 2022, profit before interest, tax, depreciation and amortization has continued to be positive since 2023.

The capital raised by the company will be used for the Xi'an Easway Silicon Industrial Base Phase II project, and plans to invest 4.9 billion yuan to raise capital. The company has formulated a 15-year long-term strategic plan for 2020-2035. Through five stages of efforts, including challengers and catchers, the company will build 2-3 core manufacturing bases and several modern intelligent manufacturing plants by 2035 to achieve a better economic scale, focus on technology, quality and management, and become the world's leading enterprise in the field of semiconductor silicon materials to serve global customers.