On November 28, in news reported by the Star Daily (Reporter Wu Xuguang), western superconducting technologies applied for listing counseling registration with the Shanghai Securities Regulatory Bureau, planning to publicly issue stocks and list on the A-share market, with china international capital corporation as its counseling institution.

The counseling registration documents show that tongling jingda special magnet wire holds 18.29% of the shares of the company, being the largest shareholder; the company's chairman, Ma Tao, controls the Gongqingcheng Chao Da Investment Partnership (Limited Partnership), which holds 11% of the shares; shanghai technology innovation group holds 7.98% of the shares.

Since its establishment, western superconducting technologies has completed four rounds of financing. Among them, the B round of financing was completed in 2014, with investors including venture capital, crown capital, and shanghai venture investment; its most recent financing occurred in July 2023, receiving D round financing from yun tai capital.

Regarding the company's IPO counseling registration and business developments, today (November 28), a reporter from the Star Daily sent an interview email to western superconducting technologies, but no response had been received at the time of publication.

Products are applied in fields such as controllable nuclear fusion.

Western superconducting technologies is a high-tech enterprise focused on the research and development, production, and sales of high-temperature superconducting materials.

According to its official website, the company's technical advantage lies in its research and development of second-generation high-temperature superconducting strips, which have a higher critical temperature and superior current transmission capabilities. The products are widely used in cutting-edge technology fields such as controlled nuclear fusion, superconducting electricity, and high-field magnets.

A person in charge of investment and financing at a domestic high-temperature superconducting strip enterprise told the Star Daily reporter, "Currently, the main manufacturers of strip materials in Shanghai are mainly represented by Shanghai Superconducting Technologies, which was established earlier and belongs to the first echelon of the industry."

In terms of customers, Shanghai Superconducting Technologies has established cooperation with domestic and foreign enterprises and research institutions, including Southern Power Grid, State Grid, Institute of Plasma Physics of the Chinese Academy of Sciences, Institute of Electrical Engineering of the Chinese Academy of Sciences, MIT in the USA, KIT in Germany, CFS in the USA, TE in the united kingdom, and Jiangxi Lianchuang Opto-Electronic Science & Technology.

Regarding the capacity realization, in October this year, Songhe Capital mentioned in a research report that Shanghai Superconducting Technologies has already achieved an annual capacity of more than 1,000 km, making it one of the companies globally capable of large-scale stable mass production.

It is important to note that the industrialization of high-temperature superconducting technologies requires continuous high investment, especially in terms of equipment expansion, process optimization, and market development, which demands significant funding.

Regarding the reasons for the IPO listing of Shanghai Superconducting Technologies, the aforementioned investment and financing person analyzed that the high-temperature superconducting strip products belong to the field of advanced strategic development materials, and the national level pays attention to the development of new materials technology, showing greater patience in capital support for this field from top to bottom. "However, affected by recent market environment changes, the financial pressure on various high-temperature superconducting enterprises has also increased."

The aforementioned investment and financing person revealed that Shanghai Superconducting Technologies may consider an A-share listing on the Shanghai Stock Exchange next year. "The main purpose of its IPO financing is to expand capacity. According to the company's future plans for a release of more than ten times in the next three years, substantial funding is necessary to support the expansion of the production line."

"High-temperature superconducting material raw material supply, production line equipment manufacturing, process optimization, and other links require substantial funding investment. Depending on the different technical routes of each enterprise, the funding investment for each production line ranges from tens of millions to over 100 million yuan," explained the aforementioned investment and financing person.

Some industry insiders also indicate that the application of high-temperature superconductor materials in certain industries is still in its early stages, with insufficient market awareness of the technology, leading to considerable promotion difficulties. More capital investment is needed to support market cultivation.

High-temperature superconductor materials are transitioning from the laboratory to commercialization.

In the currently emerging wave of new energy transformation, 'high-temperature superconductors' and 'controlled nuclear fusion' are becoming key industry terms.

According to market research, the global high-temperature superconductor materials market is expected to grow at an annual rate of over 15% in the next five years.

According to a report by the Star Daily, multiple companies in the domestic high-temperature superconductor industry chain have emerged, including deep creative superconductors, Jiangsu Etern, western superconducting technologies, shanghai superconductors, shangchuan superconductors, jiangxi lianchuang opto-electronic science&technology, and tianjin benefo tejing electric.

Since last year, the entire high-temperature superconductor industry has attracted significant market attention.

An important industry milestone event occurred last year when Jiangxi Lianchuang Opto-electronic announced the operation of the world's first megawatt-class high-temperature superconductor induction heating device, marking a significant breakthrough in domestic superconductor thermal processing technology, achieving alternative applications in the metal thermal processing industry. Shanghai superconducting is the core material supplier.

From last year to now, the high-temperature superconductor industry seems to be at a turning point similar to the initial outbreak of the lithium battery industry in 2014, entering a wave of large-scale commercial use. The person in charge of investment and financing for the aforementioned high-temperature superconductor wire company indicated that, on one hand, the high-temperature superconductor induction heating device can produce high-temperature superconductor products in large quantities, boosting the large-scale procurement of high-temperature superconductor wires; on the other hand, Lianchuang Opto-electronic's high-temperature superconductor aluminum heating furnace is already in mass production and also requires a large amount of high-temperature superconductor materials.

In addition, including applications in fields such as quantum information, the demand for high-temperature superconducting wire is gradually being released in the short term, along with the long-term prospects for nuclear fusion, which are also promising.

Regarding the digestion of new production capacity after expansion, taking the nuclear fusion application field as an example, recent advancements in nuclear fusion technology have frequently been seen in companies like Energy Singularity. On June 18 of this year, the Honghuang 70 device, designed, developed, and constructed by Energy Singularity, successfully achieved plasma discharge. It is reported that the entire magnetic system of the Honghuang 70 device is made from high-temperature superconducting materials, which brings significant potential market demand for high-temperature superconducting wire enterprises.

However, from the implementation of Energy Singularity's fusion energy products, it has not yet been put into large-scale production and requires further observation of the application status of related high-temperature superconducting wires to determine how much capacity will be released.