Founder Securities pointed out that from the proportion of enterprises in the IPO semiconductor industry chain, the proportion of mid-stream design, manufacturing, closed testing and other enterprises has a relatively slow decline process, from 68.75% to 42.86%. The proportion of upstream materials and equipment companies has gradually increased, from 12.5% in the second quarter of 21 to 57.14% in the third quarter of 21. The upstream support industry has been paid more and more attention by the market. It is believed that more and more relevant upstream companies will declare IPO in the future, from dry technology to root technology.