The Zhitong Finance App learned that according to the Hong Kong Stock Exchange disclosure on March 25, Youbo Holdings Limited (abbreviation: Youbo Holdings) submitted a listing application to the Hong Kong Stock Exchange GEM, and Yuexiu Finance is the sole sponsor. The company submitted listing applications to the Hong Kong Stock Exchange GEM on April 28, 2022, November 1, 2022, March 21, 2023, and September 22, 2023, respectively.

According to the prospectus, Youbo Holdings is a back-end semiconductor transmission medium manufacturer engaged in precision manufacturing of engineering plastic castings. During the track record period, the company's revenue mainly came from sales of trays and tray-related products. In addition to focusing on the design, development, manufacture and sale of trays and tray-related products, Youbo Holdings has also included carrier belts in the product category since 2019. In addition to back-end semiconductor transmission media, the company also provides MEMS and sensor packages. According to the F&S report, for the year ended December 31, 2021, 2022, and 2023, the market shares of trays and tray-related products in the late-stage semiconductor transmission media industry were 31.3%, 31.8%, and 31.7%, respectively. Among all manufacturers of trays and tray-related products in the back-end semiconductor transmission media industry, the company ranked third in the world in terms of sales revenue in 2023, with a market share of about 8.4%.

Youbo Holdings has set up two production plants in Dongguan, China. As of the last practical date (March 17, 2024), the company has four production facilities, two of which are responsible for manufacturing trays and tray-related products, and the rest are responsible for producing carrier tapes and MEMS and sensor packaging.

According to the F&S report, the global market size of the back-end semiconductor transmission medium industry and the MEMS and sensor packaging industry will grow from approximately US$854.6 million and US$6.9 billion in 2024 at CAGR of 7.8% and 5.2%, respectively, to approximately US$1,156.1 million and US$8.5 billion in 2028, respectively. In order to grasp the market growth in the late-stage semiconductor transmission medium industry and the MEMS and sensor packaging industry, Youbo Holdings plans to increase production capacity and capacity by upgrading production facilities in China (in particular, purchasing automated machines and starting production of carrier belts in the Philippines).

On the customer side, Youbo Holdings has established a broad customer base, including several international IDM, fabless semiconductor companies, and IC assembly and packaging testing companies, such as STMicroelectronics. During the track record period, the company's five major customers in each year have been purchasing products from the Group for more than 10 years. During the track record period, for the year ended December 31, 2021, 2022, and 2023, the company's five largest customers accounted for about 60.9%, 58.4% and 54.9% of total revenue respectively, while the company's largest customers in each year accounted for about 20.6%, 18.9% and 16.7% of total revenue for the relevant year.

On the financial side, in 2021, 2022, and 2023, Youbo Holdings' revenue was approximately HK$203 million, $258 million, and HK$189 million respectively; during the same period, profit realized during the same period was HK$26.396 million, 21.798 million, and HK$5038 million respectively.

According to Youbo Holdings in its prospectus, demand for the company's products is highly dependent on the performance of the semiconductor industry, and the demand for products from the company's customers is affected by cyclical changes. As a back-end semiconductor transmission medium supplier and MEMS and sensor packaging service provider, the company mainly serves customers from the semiconductor industry. As of 2021, 2022, and the year ended December 31, 2023, Youbo Holdings had more than 300 customers during each relevant period. During the record period, most of the company's revenue came from fabric-free semiconductor companies, IDM companies, and IC assembly and packaging testing companies. Therefore, demand for the company's products is highly dependent on the performance of the semiconductor industry and the demand for products from the company's customers. Youbo Holdings' customer demand for products is highly dependent on the performance of the consumer electronics and smart module industry, telecommunications industry, and automotive electronics industry. As a result, the semiconductor industry is affected by cyclical changes, and the company's product demand is also affected by such changes.