On June 8, according to the official website of the Shanghai Stock Exchange, the Listing Review Committee of the Shanghai Stock Exchange is scheduled to hold its 37th review meeting of 2026 on June 15, 2026, to deliberate on the initial public offering application of Shanghai Suiyuan Technology Co., Ltd. (hereinafter referred to as "Suiyuan Technology").

On November 1 last year, the official website of the China Securities Regulatory Commission indicated that Shanghai Suiyuan Technology Co., Ltd. had commenced its IPO tutoring process, with the tutoring institution changed from China International Capital Corporation to CITIC Securities. On January 22, the Shanghai Stock Exchange website showed that the company's IPO application for the Science and Technology Innovation Board had been accepted, with plans to raise 6 billion yuan.

Suiyuan Technology was established on March 19, 2018, with a registered capital of 387 million yuan. Headquartered in Shanghai, its legal representative is Zhang Yalin. Among the shareholders, ZHAO LIDONG (Zhao Lidong) and Zhang Yalin directly hold and, through Shanghai Suiyuan Huizhi Information Technology Consulting Partnership (Limited Partnership) and Shanghai Suiyuan Chongying Information Technology Consulting Partnership (Limited Partnership), collectively control 28.14% of the company's voting rights. The two have also signed a concerted action agreement, making them the company's joint actual controllers. The company has no controlling shareholder.

Suiyuan Technology stated that it is a leading enterprise in the field of cloud AI chips, dedicated to becoming a "leading provider of general artificial intelligence infrastructure." It adheres to a technological path of original innovation and independent research and development to build long-term sustainable core competitiveness and a competitive moat. Over the eight years since its founding, the company has independently developed and iterated four generations of architecture, resulting in five cloud AI chips, and has built a complete product system covering AI chips, AI accelerator cards and modules, intelligent computing systems and clusters, and AI computing and programming software platforms.

Documents submitted for the review meeting show that from 2023 to 2025, the company's operating revenues were 300 million yuan, 720 million yuan, and 990 million yuan, respectively. Net losses attributable to the parent company were 1.6 billion yuan, 1.5 billion yuan, and 1.16 billion yuan, respectively.

Also on June 8, the official website of the Shenzhen Stock Exchange indicated that the Listing Review Committee of the Shenzhen Stock Exchange is scheduled to hold its 34th review meeting of 2026 on June 15, 2026, to deliberate on the initial public offering application of Yuexin Semiconductor Technology Co., Ltd.

The review documents show that Yuexin Semiconductor is an integrated circuit manufacturing enterprise dedicated to providing 12-inch wafer foundry services and specialized process solutions for domestic and foreign chip design companies. The company's core business model is specialized process wafer foundry, serving chip design companies and end customers. Its main clients include several first-tier semiconductor design companies both domestically and internationally. The company possesses process R&D and manufacturing capabilities for products such as integrated circuits and power devices, with applications covering consumer electronics, industrial control, automotive electronics, and artificial intelligence.

The company currently operates two 12-inch wafer fabs: the first factory (Yuexin Phase I and II) and the second factory (Yuexin Phase III), with a combined planned capacity of 80,000 wafers per month. As of the end of 2025, the achieved capacity was 63,300 wafers per month. Currently, the company has commenced construction of a 12-inch integrated circuit mixed-signal specialty process production line with a planned capacity of 40,000 wafers per month, which is the third factory (Yuexin Phase IV). Upon completion of Yuexin Phase IV, the company's total capacity will reach 120,000 wafers per month.

Financial data shows that in 2023, 2024, and 2025, the company's operating revenues were 1.044 billion yuan, 1.681 billion yuan, and 2.582 billion yuan, respectively. Net losses attributable to the parent company were 1.9 billion yuan, 2.25 billion yuan, and 2.35 billion yuan, respectively.

The review documents indicate that the company has no controlling shareholder and no actual controller. During the reporting period, the company's shareholding structure was relatively dispersed. As of the signing date of the prospectus, shareholders holding more than 5% of the company include Yuxin Zhongcheng, Guangdong Semiconductor Fund, Guangzhou Huaying, Science City Group, and SDIC Venture Capital Fund, with shareholding ratios of 16.88%, 11.29%, 9.51%, 8.82%, and 7.05%, respectively.