Overview of mobile phone/semiconductor industry IPOs in Q1 2021: 19 companies raised more than 20 billion

此前，据《2020年手机/半导体产业IPO过会总览：87家企业募资近1000亿元！》文中统计，由于受疫情影响，2020年一季度IPO过会企业仅有4家，且均集中在年前的1月份，2-3月尚无一家企业过会，直至4月才陆续出现部分上会企业。下半年，随着疫情明朗及创业板注册制的开通，7-12月过会的企业数量达65家，显著高于上半年的22家。

IPO过会的热潮也延续到了2021年，今年一季度，据集微网不完全统计，共有19家手机与半导体企业IPO成功过会，平均每月有超过6家企业，较2020年一季度同比显著增长。不过在过会企业中，1月占据了过半比例，达到10家，2月为4家，3月则是5家，每月过会企业数量并不均衡。

Total fundraising exceeded RMB 20 billion: 3 companies raised more than RMB 1 billion

In terms of the amount of funds raised, the 19 companies that passed the review in the first quarter raised a total of 22.718 billion yuan, with an average of 1.196 billion yuan per company. This was mainly affected by the 10 billion yuan raised by Hehui Optoelectronics, which almost reached half of the total funds raised, thus raising the overall level of funds raised. If Hehui Optoelectronics is excluded, the total amount of funds raised by the 18 companies in the first quarter was only 12.718 billion yuan, with an average of 707 million yuan per company. In 2020, the average amount of funds raised by the 87 IPO-approved companies was 1.098 billion yuan, and there was no significant increase in the first quarter of 2021 compared with the previous year.

In addition to Hehui Optoelectronics, the companies with the largest to smallest fundraising amounts exceeding 1 billion yuan include Awin Electronics and Xinhao Optoelectronics. Most companies raised funds between 300 million and 800 million yuan, with the largest number of companies raising around 500 million yuan, reaching 6.

Specifically, Hehui Optoelectronics, which plans to raise 10 billion yuan, will mainly use 8 billion yuan to invest in the sixth-generation AMOLED production line capacity expansion project, and 2 billion yuan to supplement working capital. After the expansion project reaches full capacity, it will add 15K pieces/month of the sixth-generation AMOLED production line capacity.

At the same time, Awei Electronics plans to raise 2.468 billion yuan, which will be invested in smart audio chip research and development and industrialization projects, 5G RF device research and development and industrialization projects, motor drive chip research and development and industrialization projects, R&D center construction projects, electronic engineering testing center construction projects, as well as development and technology reserve funds.

Xinhao Optoelectronics plans to raise 1.8 billion yuan, of which 1.5 billion yuan will be used for the construction of the Huangshi Xinbo glass protection screen project, mainly serving Shenzhen Tianma and Huaxing Optoelectronics. It can be seen that in addition to major cover glass manufacturers such as Bern Optics and Lens Technology, Xinhao Optoelectronics will become a new strong competitor in the glass market.

The number of GEM listings exceeds that of the Science and Technology Innovation Board, and one company is listed on the new main board of the Shenzhen Stock Exchange

In addition, from the perspective of listing location, among the 19 companies that passed the review in Q1, there were relatively more companies listed on the ChiNext, reaching 11, accounting for 58%; while there were only 7 companies listed on the Science and Technology Innovation Board, accounting for 37%, and there was 1 company listed on the Shenzhen Stock Exchange Main Board, accounting for 5%.

It is worth mentioning that on April 6, the merger of the Shenzhen Stock Exchange's main board and small and medium-sized board was officially implemented. Huaya Intelligent, sponsored by Dongwu Securities, was successfully listed on the Shenzhen Stock Exchange on the same day, becoming one of the first listed companies after the merger of the Shenzhen Stock Exchange's main board and small and medium-sized board. It is reported that Huaya Intelligent's issue price is 19.81 yuan per share, and the issue price-earnings ratio is 22.99 times.

The person in charge of the Shenzhen Stock Exchange pointed out that the Shenzhen Main Board is positioned to support the financing development of relatively mature enterprises. The listing threshold remains unchanged. The securities category of the original SME Board listed companies has been changed to "Main Board A shares", and the securities code and securities abbreviation remain unchanged. The Growth Enterprise Market mainly serves growing innovative and entrepreneurial enterprises, highlighting the "three creations and four innovations", each with its own focus. The merger of the two boards will allow the Shenzhen Stock Exchange to better provide financing services for enterprises of different development stages and types. In the future, the Shenzhen Stock Exchange will form a market structure with the main board and the Growth Enterprise Market as the main body, and the Small and Medium Board will officially withdraw from the stage of history.

此外，对比此前（2020年）统计的上市地点分布来看，绝大部分企业选择的都是科创板上市，其次才是创业板。结合不久前颁布的《首发企业现场检查规定》，在监管规范化背景下，一季度以来，终止审查的科创板企业数量显著增加，短期内进入撤回高峰期。因此可以推断，造成一季度创业板上市企业多于科创板的原因，或许与规定的颁布令科创板企业撤回数量较多有关。  

Next, Jiwei.com will release an overview of companies in the mobile phone/semiconductor industry that submitted IPO prospectuses in the first quarter of 2021, and will also make statistics on companies that terminated their IPOs. Stay tuned!