Pioneer Jingke: Science and Technology Innovation Board shines, and new forces in LED-related indust

On the stage of deep integration of technology and capital, on December 12, Jiangsu Pioneer Precision Technology Co., Ltd.(hereinafter referred to as Pioneer Jingke) ushered in a high-profile moment in its development history-it was officially listed on the Science and Technology Innovation Board. This milestone event is like a new star rising brightly in the vast starry sky of technological innovation, attracting the attention of many investors and industries.
On the first day of listing, Pioneer Jingke showed amazing market explosive power. The opening price was 85 yuan/share, a sharp increase of 652.88% from the issue price of 11.29 yuan/share. This amazing increase instantly ignited the enthusiasm of the market. As of the close, the increase was still as high as 533.84%, and finally closed at 71.56 yuan/share, and the market value exceeded 14.482 billion yuan in one fell swoop. Such strong market performance not only demonstrates investors 'high confidence in the future development prospects of Pioneer Precision, but also highlights its unique value and potential in its industry.

1. Leading technology: The leader in the field of key semiconductor components

According to its prospectus, Pioneer Jingke occupies an important position in the precision manufacturing of key components in the domestic semiconductor etching and thin film deposition equipment segment. Especially in the field of etching equipment, it has become one of the few domestic suppliers that can mass produce key components of domestic etching equipment of 7nm and below, and has the strength to directly compete with international manufacturers in the high-end market. Behind this achievement is Pioneer Jingke's continuous investment and profound accumulation in technology research and development over the years. The company continues to overcome technical problems, optimize manufacturing processes, and is committed to providing high-quality and high-performance key components for the semiconductor industry. It has effectively promoted the localization process of my country's semiconductor industry chain and become an important part of the independent innovation and development of my country's semiconductor industry. Support force.
Judging from performance data, Pioneer Jingke has maintained a rapid growth trend in the past few years. From 2020 to 2023, its compound growth rate of operating income exceeded 40%, and the compound growth rate of net profit deducted from non-profit exceeded 45%. This achievement is excellent in the same industry. Entering 2024, Pioneer Jingke's performance has ushered in more rapid and explosive growth. In the first three quarters of 2024, the company achieved operating income of 869 million yuan, a year-on-year increase of 133.12%; net profit attributable to the parent company was 175 million yuan, a year-on-year increase of 249.03%. Based on the current business development momentum, the company expects full-year revenue in 2024 to reach 1 billion to 1.1 billion yuan, a year-on-year increase of 79.30% to 97.23%; net profit is expected to be 215 million to 225 million yuan, a year-on-year increase of 167.83% to 180.29%. This series of eye-catching data fully shows that Pioneer Jingke is on the golden track of rapid development. Its products and services have been highly recognized in the market, its market share continues to expand, and its profitability continues to increase.

2. Industrial synergy: Deep binding cooperation with industry giants

In the field of domestic mainstream plasma LED chip etching, Pioneer Jingke plays a very key role and is the core supplier of this reaction chamber kit. In the field of gallium nitride-based LED MOCVD and 12-inch PECVD, it is also a core supplier of gas equalizing discs, a key process component of equipment. It is worth mentioning that in the gallium nitride-based LED MOCVD equipment where China Micro Corporation occupies a leading position in the global market, the gas-equalizing and water-cooled plates for key process components are provided by Pioneer Jingke. This close industrial synergy and cooperation not only reflects Pioneer Jingke's excellent capabilities in technology research and development and product manufacturing, but also reflects its important position and value in the semiconductor industry chain.
As two giants in the semiconductor industry, Zhongwei Corporation and Northern Huachuang are not only the main customers of Pioneer Jingke, but also occupy a place in its shareholder camp. According to the data for the first quarter of 2024, the sales volume of Zhongwei Company and Northern Huachuang accounted for 34.07% and 29.68% respectively, totaling more than half, which fully demonstrates the business relationship between Pioneer Jingke and leading companies in the industry. The degree of closeness. In addition, many of Pioneer Jingke's customers are also shareholders, including China Micro Corporation, SMIC, Northern Huachuang and Micro Nano. Among them, Zhongwei Company directly holds 1.93% of Pioneer Jingke's shares, making it the ninth largest shareholder; Northern Huachuang indirectly holds shares of Pioneer Jingke through Beijing Integrated Circuit Fund.(the proportion is less than 0.01%). This deep binding of the dual identities of customers and shareholders has built a stable and powerful industrial ecosystem for Pioneer Jingke. On the one hand, close cooperation with industry giants helps Pioneer Jingke to deeply understand market demand and industry development trends, timely adjust its own R & D and production strategies, and continuously improve product quality and service levels; On the other hand, the blessing of shareholder status also provides Pioneer Jingke with stronger financial support and resource guarantee, which is conducive to its larger-scale investment in technology research and development, production capacity expansion, etc., and further consolidating its key components in semiconductors. Competitive advantages in the field of components accelerate the development and growth of the company.

3. Fundraising and expanding capacity: Focus on the future layout and long-term development

During the IPO process of Pioneer Jingke, the initial capital raised 571 million yuan. This fund will be mainly used for the expansion and upgrading of Jingjiang Precision Assembly Parts Manufacturing Base, Wuxi Xianyan Equipment Module Production and Assembly Base, and Wuxi Xianyan Precision Manufacturing Technology Research and Development Center and other projects. Through the expansion and upgrading project of Jingjiang Precision Assembly Parts Manufacturing Base, the company aims to enhance the company's core competitiveness in multiple dimensions to cope with increasingly fierce market competition and industry challenges. On the one hand, this measure accurately caters to the booming wave of domestic substitution in the semiconductor industry chain. By expanding production capacity, it effectively meets the growing market demand. At the same time, it realizes the upgrade and iteration of some products to further improve product performance and quality to better meet the needs of customers for key components of high-end semiconductors; On the other hand, the company can continuously improve its product line and create more comprehensive and high-quality system solutions based on customers 'personalized and flexible customization needs, thereby comprehensively enhancing the company's competitiveness and influence in the market and laying a solid foundation for the long-term development of the company.

Looking to the future, after successfully landing on the Science and Technology Innovation Board, Pioneer Jingke will continue to work deeply in the field of key semiconductor components and components, and continuously expand its business areas and market space by relying on its technological advantages, industrial synergy advantages and scale advantages after fundraising and expansion. It is expected to further strengthen cooperation and exchanges with domestic and foreign semiconductor companies and deeply integrate into the global semiconductor industry chain. While promoting the independent innovation and development of my country's semiconductor industry, it also contributes its own strength to the progress of global semiconductor technology and becomes a semiconductor industry field. A star enterprise that continues to shine leads the development trend of the industry and creates more value and glory.