According to Zhidao Finance APP, on July 2, Beijing Jingyi Jingwei Technology Co., Ltd. (referred to as Jingyi Jingwei) changed its IPO review status on the Shanghai Stock Exchange to terminate. Due to the withdrawal of the application for issuance and listing of Beijing Jingyi Jingwei Technology Co., Ltd. and its sponsor, the Shanghai Stock Exchange terminated its review of the issuance and listing in accordance with relevant provisions of Article 63 of the Rules for the Review of the Issuance and Listing of Stocks of Shanghai Stock Exchange.

According to the prospectus, Jingyi Jingwei mainly engages in R&D, production, sales and technical services of semiconductor equipment. The main products are chemical mechanical polishing (CMP) equipment and its accessories, and provide technical services. CMP equipment uses the synergistic effect of chemical corrosion and mechanical grinding to efficiently remove excess materials on the surface of wafers and achieve global nanometer-level flattening, mainly used in the field of integrated circuit manufacturing.

During the reporting period, with the rapid growth of business scale, Jingyi Jingwei's purchasing amount showed a growth trend, and the purchase amounts of various raw materials were 116.9013 million yuan, 275.2362 million yuan, 295.3408 million yuan and 88.5991 million yuan respectively, mainly to purchase mechanical standard parts, mechanical customized parts, fluid control components, electrical and electronic components and other raw materials from companies such as Robostar Co., Ltd. Beijing Lingde Technology Development Co., Ltd., Suzhou Hangling Micro-precision Component Co., Ltd., Beijing Kangruiming Technology Co., Ltd., Shanghai Peimagnesium Electromechanical Technology Co., Ltd., and Fujimi Semiconductor Precision Industry (Shanghai) Co., Ltd.

Through long-term cooperation, the company has established deep strategic cooperation relationships with well-known integrated circuit manufacturers at home and abroad. CMP equipment has been widely used in the scale production lines of advanced integrated circuit manufacturers at home and abroad such as SMIC, Domestic Customer A, World Advanced, and Unisem.

It is reported that the global CMP equipment market is mainly dominated by American Applied Materials and Japanese Ebara and is in a highly monopolistic state. The main domestic companies engaged in CMP equipment business are Jingyi Jingwei and Huahaiqingke. Jingyi Jingwei and the 45th CMP department, its predecessor, have been committed to the R&D, industrialization, and technological self-reliance of CMP equipment.

In 2017, the 45th CMP division, the predecessor of Jingyi Jingwei, developed the first 8-inch CMP equipment with independent intellectual property rights in China, and entered the SMIC production line for verification that year, filling the domestic gap in the operation of 8-inch domestic CMP equipment in the integrated circuit manufacturing production line. Since its establishment in 2019, the company has completed the batch sales of 8-inch CMP equipment and successfully realized industrialization application. It won the "Outstanding Equipment Supplier-8-inch CMP Equipment Replacement Rate Reached 100%" award from the Tianjin Integrated Circuit Industry Feature Process Innovation Alliance and replaced 100% of imported CMP equipment in some customer production lines.

The company is based on the international market and is currently the only equipment supplier in China that has achieved overseas bulk sales of 8-inch CMP equipment. The company's 12-inch CMP equipment has completed the Cu process verification in the international mainstream integrated circuit production line of the 28nm process and the equipment performance and technical indicators can meet the requirements of the customer production line. As of the date of this prospectus, the company has received orders from multiple customers. At the same time, the company seizes the opportunity of the development of third-generation semiconductors and launches domestically produced 6/8-inch compatible CMP equipment, which is mainly used for surface polishing processes of special semiconductor materials including silicon carbide and gallium nitride. By the end of 2023, the company had sold 1 set of 6/8-inch compatible CMP equipment to Domestic Customer A for third-generation semiconductor materials.

In terms of finance, Jingyi Jingwei achieved operating income of approximately RMB 99.8421 million, RMB 220 million, RMB 506 million and RMB 309 million in fiscal 2020, 2021, 2022 and the first half of 2023, respectively; in the same period, the company achieved net profit of approximately RMB -9.7649 million, RMB 14.184 million, RMB 128 million and RMB 93.302 million, respectively.

It is reported that the company has the risk of technology upgrading. At present, the company has completed the product verification and confirmed revenue for 4 12-inch CMP equipment. Compared with competitors in the same industry, the company's 12-inch CMP equipment can only achieve 28nm and above process technology, while American Applied Materials and Japanese Ebara can achieve 3nm process technology, and Huahaiqingke can achieve 14nm and above process technology (being verified). If the company's product technology upgrading fails to meet customers' demand for more advanced process production or new technologies that subvert chip manufacturing emerge in the future, it may lead to the declining advanced level of the company's core technology and related products and have an adverse impact on the company's operating performance.