According to Zhitong Finance APP, on December 2, Pioneer Technology (688605.SH) began its subscription, with an issuance price of 11.29 yuan per share, a subscription limit of 0.012 million shares, and a PE ratio of 28.64 times, belonging to the Shanghai Stock Exchange, with Huatai United Securities as the sponsor (main underwriter).

The prospectus shows that Pioneer Technology is an expert in precision manufacturing of key components in the domestic semiconductor etching and thin film deposition equipment sub-sector. Particularly in the field of etching equipment, the company is one of the few suppliers in china that has mass-produced key components for domestic etching equipment at 7nm and below, directly competing with international manufacturers. While focusing on the semiconductor field, the company fully leverages its solid foundation in precision parts technology and innovative capability, actively exploring and developing new products in other fields like photovoltaics and medical. After more than 15 years of technological accumulation and independent R&D of product processes, the company has established five core technology platforms including precision machinery manufacturing technology, surface treatment technology, welding technology, high-end component design and development technology, and custom tooling development technology. Under increasingly stringent application conditions, through production practice, it continuously achieves iterative evolution of process capabilities, meeting the process demands of advanced equipment upgrades, and is committed to becoming a globally competitive precision manufacturing enterprise.

Based on its core technology platforms, Pioneer Technology closely aligns with customer needs by integrating interdisciplinary knowledge, multiple experimental process methods, and various industry chain resources to form three main product categories: critical process components, process components, and structural components, primarily applied to core semiconductor equipment such as etching and thin film deposition equipment. In the etching field, the company primarily provides a series of core supporting components, mainly including reaction chamber and liner; in the thin film deposition field, the company mainly provides core components such as heaters and gas distribution plates, as well as supporting products.

Components are an important carrier for the localization of semiconductor equipment. Pioneer Technology occupies a crucial position in the wave of localization among domestic semiconductor equipment manufacturers due to its specialization in products and has achieved controllable domestic production of key components in etching and thin film deposition equipment. Since its establishment, the company has closely cooperated with leading domestic equipment manufacturers in china, such as Naura Technology Group and Advanced Micro-Fabrication Equipment Inc. China, assisting clients in many devices throughout the complete process from R&D, modeling, mass production to advancement in processes. In addition to Naura Technology Group and Advanced Micro-Fabrication Equipment Inc. China, the company has also established long-term stable strategic partnerships with other leading industry equipment clients and end wafer manufacturing customers such as TuoJing Technology, Huahai Qingke, Semiconductor Manufacturing International Corporation, and Yitang Co., Ltd.

In terms of finance, in 2021, 2022, 2023, and from January to March 2024, Pioneer Technology achieved revenue of approximately 0.424 billion yuan, 0.47 billion yuan, 0.558 billion yuan, and 0.216 billion yuan, respectively. The corresponding net income for the same periods was approximately 0.105 billion yuan, 0.105 billion yuan, 80.275 million yuan, and 46.7848 million yuan.