The winning rate may be relatively high; the leading advanced packaging and testing company is here.

According to the current issuance schedule, there will be 5 new stock offerings next week. Each of the Shanghai main board, Shenzhen main board, NEEQ, STAR Market, and ChiNext will have 1 new stock offering.

In terms of the schedule, on Tuesday (April 7), you can apply for the Shanghai main board new stock Aitak and the NEEQ new stock Hengdao Technology. On Wednesday (April 8), you can apply for the ChiNext new stock Shangshui Intelligent. On Thursday (April 9), you can apply for the STAR Market new stock Shenghe Jingwei. On Friday (April 10), you can apply for the Shenzhen main board new stock Funen Shares.

Among them, Shenghe Jingwei is a globally leading integrated circuit wafer-level advanced packaging and testing enterprise. Its number of shares issued this year ranks No. 2 among new stocks issued since the beginning of the year, and its winning bid rate may be relatively high.

Aitak is an industry-leading provider of intelligent solutions for automotive electronics.

Aitak’s issue price is 33.49 yuan per share, and its issue price-to-earnings ratio is 29.71x. Its reference industry price-to-earnings ratio is 63.04x. The company’s total number of shares publicly issued in this round is 44.7727 million shares. The online application limit is 14,000 shares; to apply at the maximum level, you need to have 140k yuan worth of Shanghai market value.

Aitak mainly engages in the research, development, production, and sales of automotive electronics products, and also provides automotive electronics EMS and technology development services to customers. Its products cover four core functional domains: body domain, intelligent cockpit domain, power domain, and intelligent driving domain. The company’s customers have covered independent-brand automakers including Chery Automobile, Changan Automobile, Great Wall Motor, SAIC Group, Geely Automobile, BAIC Group, Dongfeng Motor, and other automakers as well as new automakers such as Li Auto, XPeng, and Leapmotor. In addition, by providing automotive electronics EMS to companies such as Bosch, its products are ultimately supplied to well-known automakers such as Volvo and Audi.

Regarding performance, in 2023, 2024, and 2025, Aitak’s operating revenue was 140k yuan, 3.47B yuan, and 3.61B yuan, respectively, while its net profit was 191 million yuan, 212 million yuan, and 246 million yuan, respectively.

Hengdao Technology is a “little giant” enterprise in the injection-mold tooling hot runner system.

Hengdao Technology’s issue price is 21.8 yuan per share, and its issue price-to-earnings ratio is 14.99x.

Hengdao Technology focuses on the research, design, production, and sales of injection mold hot runner systems and related components. It is a nationally recognized “little giant” enterprise specializing in niche areas, and also a “hidden champion” enterprise in Zhejiang Province. The company’s main products are hot runner systems, which are core heating component systems in injection mold hot runner molds. They are widely used in areas such as automotive headlamps, automotive interior and exterior trim, and 3C consumer electronics.

Regarding performance, in 2023, 2024, and 2025, Hengdao Technology’s operating revenue was 168 million yuan, 234 million yuan, and 297 million yuan, respectively, while its net profit was 49 million yuan, 69 million yuan, and 79 million yuan, respectively.

Shangshui Intelligent is a leading enterprise in the niche segment of new energy battery equipment.

Shangshui Intelligent’s number of shares to be publicly issued in this round is 25 million shares, the online application limit is 6,000 shares, and applying at the maximum level requires 60k yuan worth of Shenzhen market value.

Shangshui Intelligent mainly serves the fields of new energy battery negative electrode (extreme) foil manufacturing and new material preparation, and provides research, production, and sales of intelligent equipment. In the manufacturing of new energy battery negative electrode foils, customers include BYD, EVE Energy (rights protection), Contemporary Amperex Technology (CATL), Sinovation Hi-Tech, Ningde New Energy, Xinwangda, Envision Power, Gotion High-Tech, Tianjin Lishen, GAC Aion, and other new energy battery and new energy vehicle enterprises. In the new material preparation field, the company’s products cover customers such as Beterui, Enjie Co., Ltd., Wanhua Chemical, Baiyixincheng, Huahai Chengke, and the Three-Circle Group.

Regarding performance, in 2023, 2024, and 2025, Shangshui Intelligent’s operating revenue was 601 million yuan, 637 million yuan, and 810 million yuan, respectively, while its net profit was 234 million yuan, 153 million yuan, and 161 million yuan, respectively.

Shenghe Jingwei is a globally leading integrated circuit wafer-level advanced packaging and testing enterprise.

Shenghe Jingwei’s number of shares to be publicly issued in this round is 2,554.662 million shares, the online application limit is 35,500 shares, and applying at the maximum level requires 355k yuan worth of Shanghai market value.

Wind data shows that Shenghe Jingwei is the No. 2 new stock this year by number of shares issued among new stocks; among STAR Market new stocks this year, it ranks No. 1. This means that Shenghe Jingwei’s winning bid rate may be relatively high.

Starting with advanced processing of 12-inch mid-segment silicon wafers, Shenghe Jingwei further provides end-to-end advanced packaging and testing services such as wafer-level packaging (WLP) and multi-chip integration packaging of die stacks and multi-chip modules. It is committed to supporting all kinds of high-performance chips, especially for graphic processing units (GPUs), central processing units (CPUs), AI chips, and more, achieving comprehensive performance improvements such as higher computing power, higher bandwidth, and lower power consumption through heterogeneous integration approaches that go beyond Moore’s Law.

Shenghe Jingwei focuses on mid-segment silicon wafer processing and the back-end advanced packaging steps in the integrated circuit advanced packaging and testing industry. It is a company that comprehensively covers mid-segment silicon wafer processing technologies and back-end advanced packaging technologies, providing customers with mid-segment silicon wafer manufacturing and testing services, as well as full-process advanced packaging and testing services across multiple technology platforms.

Regarding performance, in 2023, 2024, and 2025, Shenghe Jingwei’s operating revenue was 60k yuan, 255.47M yuan, and 355k yuan, respectively, while its net profit was 34 million yuan, 214 million yuan, and 923 million yuan, respectively.

Funen Shares is a leading enterprise in domestically used regenerated fabrics for apparel.

Funen Shares’ number of shares to be publicly issued in this round is 58.3333 million shares, the online application limit is 23,000 shares, and applying at the maximum level requires 230k yuan worth of Shenzhen market value.

Funen Shares is a global eco-environmental fabric supplier with sustainability at its core, with research, production, and sales of eco-environmental fabrics as its main business. The company’s primary products are eco-environmental fabrics, mainly made from regenerated fabrics. It has currently become a leading enterprise in domestically used regenerated fabrics for apparel. The company’s key brand customers include H&M, Uniqlo, GU, ZARA, Taipingniao, Lilong, and others.

Regarding performance, in 2023, 2024, and 2025, Funen Shares’ operating revenue was 3.04B yuan, 4.71B yuan, and 6.52B yuan, respectively, while its net profit was 229 million yuan, 275 million yuan, and 230 million yuan, respectively.

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Responsible editor: Liu Wanli SF014