Shenzhou Semiconductor updates STAR Market prospectus, seeks RMB 2.52 billion with Intel and YMTC-linked fund among shareholders

Jiangsu Shenzhou Semiconductor Technology Co., Ltd., or Shenzhou Shares, has updated its prospectus for a planned listing on Shanghai’s STAR Market. The company said it aims to raise RMB 2.52 billion and allocate the proceeds across five areas: RMB 850 million for R&D and industrialization of power-related components used in integrated circuits at advanced process nodes, RMB 271 million for expanding its technical support service system, RMB 535 million for a Shanghai industrialization base, RMB 556 million for a technology R&D and innovation center, and RMB 310 million for working capital. The prospectus shows revenue of RMB 261 million in 2023, RMB 446 million in 2024, and RMB 654 million in 2025. Net profit was negative RMB 22.32 million in 2023, then RMB 136 million in 2024 and RMB 210 million in 2025. For the first half of 2026, revenue reached RMB 376 million, with net profit at RMB 117 million and non-recurring-adjusted net profit at RMB 109 million. The filing also details customer concentration, inventory and receivables, and control arrangements centered on chairman and general manager Zhu Peiwen, who controls 64.74% of voting rights. Intel Asia Pacific R&D Ltd. and Changxin Storage Industry Investment Fund (Wuhan) are listed among pre-IPO shareholders.