IPO News | "Semiconductor Assembly and Test Service Provider" Xinde Semiconductor launches its IPO, planning to list on November 10, with a minimum subscription lot size of HKD 4,848.41

Futu News, October 30: $XINDE SEMI (07672.HK)$ Announcement released: The IPO subscription period is from October 30 to November 5. The company plans a global offering of approximately 107 million shares and expects to list on November 10.

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Company Overview

Xinde Semiconductor is a semiconductor assembly and test service provider, primarily engaged in developing packaging designs, providing custom packaging products, and offering testing services for packaged products. According to Frost & Sullivan, in the "post-Moore's Law era," where transistor density growth is approaching its physical limits, relying on new semiconductor packaging architectures as a key link connecting chip design and applications has become a major driver for enhancing chip performance, efficiency, and functional flexibility.

Since its establishment in September 2020, the company has expanded into both traditional and advanced packaging fields, accumulating packaging technology expertise and establishing mass production capabilities for traditional and advanced packaging, covering products such as QFN, BGA, LGA, WLP, and 2.5D/3D packaging. The company has built the "Chip and Advanced Packaging Technology Platform (CAPiC)," which covers all technical branches in the traditional and advanced packaging sectors, to advance its technical knowledge and continuously develop new technologies.

Financial Overview

Xinde Semiconductor's revenue increased from RMB 509.1 million in 2023 to RMB 827.4 million in 2024, and further rose to RMB 1,012.2 million in 2025. For the years 2023, 2024, and 2025, as well as for the four months ended April 30, 2025 and 2026, the company recorded losses during the periods of RMB 358.9 million, RMB 376.6 million, RMB 483.1 million, RMB 163.6 million, and RMB 161.9 million, respectively.

Source: Prospectus

Use of Proceeds

Regarding the use of proceeds, Xinde Semiconductor expects the net proceeds from the global offering to be approximately HK$904 million (assuming the over-allotment option is not exercised and calculated based on the mid-point of the offer price of HK$9.1 per share). According to the prospectus, Xinde Semiconductor intends to allocate the funds raised from the global offering for the following purposes:

Approximately 69.5% will be used for constructing production bases, establishing new production lines, and purchasing production-related equipment; approximately 17.6% will be used to enhance the company's R&D capabilities in packaging technology and improve its technical competitiveness in the semiconductor packaging and testing industry; approximately 2.9% will be used to strengthen the company's commercialization capabilities and expand its customer collaboration ecosystem; and approximately 10% will be used for working capital and other general corporate purposes.

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Edited by Joe

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