Zhongtu Technology once again enters the Science and Technology Innovation Board

On December 2, the China Securities Regulatory Commission website disclosed a report on Zhongtu Technology’s initial public offering of stocks and listing guidance on the Science and Technology Innovation Board. It showed that Haitong Securities and Zhongtu Technology had signed a listing guidance agreement on November 22.

According to the prospectus released by Zhongtu Technology in the last round of IPO, Zhongtu Technology is a professional substrate material supplier for GaN on Sapphire semiconductor technology. The company develops substrate materials adapted to different LED chip application fields and epitaxial technology characteristics. Through graphic structure design, different material combination applications, process implementation, etc., it provides comprehensive substrate material solutions for GaN LED chips. The main products include 2 to 6-inch patterned sapphire substrates (PSS) and patterned composite material substrates (MMS). The application fields include lighting, display, backlight, Mini/Micro LED, deep ultraviolet LED, etc.

In terms of market position, according to LEDinside’s statistics on the demand for epitaxial wafers, China Graphics Technology’s PSS sales accounted for approximately 26.19% of global demand in 2019, making it one of the largest PSS manufacturers in the world. In terms of production capacity, China Graphics Technology announced in March 2021 that the annual production capacity of 4-inch PSS exceeds 13 million pieces.

Zhongtu Technology also pointed out that the company has established long-term cooperative relationships with major global LED chip manufacturing companies and has become the main substrate supplier for Huacan Optoelectronics, Jingyuan Optoelectronics, Seoul Viosys, Zhaochi Co., Ltd., Aoyang Shunchang, Qianzhao Optoelectronics, Jucan Optoelectronics and other enterprises.

In terms of performance, China Graphics Technology’s revenue from 2017 to 2019 and January to September 2020 was 1.046 billion yuan, 1.140 billion yuan, 857 million yuan, and 669 million yuan respectively; the corresponding net profits were 125 million yuan, 123 million yuan, 23.8875 million yuan, and 49.4134 million yuan respectively.

In June 2021, Zhongtu Technology responded to the first round of inquiries about the GEM IPO and stated that the company's Mini/Micro LED business revenue in 2020 was nearly 130 million yuan, accounting for 15.02% of the total revenue. (Compiled by LEDinside Lynn)