江苏苏州半导体公司IPO冲刺：国产突围的关键一步

半导体产业，是当今世界高新技术的核心领域，也是大国博弈的关键战场。 recent news reports that a Suzhou-based semiconductor company, Strong Semiconductor, is actively preparing for its IPO on the Shanghai Stock Exchange’s Sci-Tech Innovation Board. This event has garnered significant attention from the market, as it signifies an important attempt by China’s semiconductor industry to achieve self-sufficiency.

In this article, we will delve into Strong Semiconductor’s business, technical advantages, challenges, and the broader significance of its IPO.

关键环节：半导体测试的“体检医生”

Strong Semiconductor specializes in the research, design, manufacturing, and assembly of probe cards, which are core hardware components for wafer testing. Despite the term “probe card” being relatively unfamiliar to many, it plays a pivotal role in the semiconductor manufacturing process.

In simple terms, a probe card is like the “doctor” that checks the health of semiconductor chips. After a wafer is manufactured, each chip on the wafer needs to undergo electrical performance testing to ensure its functionality. The probe card serves as the bridge between the test equipment and the wafer chip, using its numerous tiny probes to make contact with the chip’s pads and transmit test signals to the chip, as well as receive the chip’s response signals and feed them back to the test equipment.

The performance of a probe card directly affects the accuracy and efficiency of the test, making it an indispensable key component in the semiconductor testing process. If a probe card malfunctions, it could lead to misjudgments, resulting in good chips being identified as bad or bad chips being identified as good, which would cause significant economic losses.

大陆“第一”的底气：技术实力与市场占有率

Strong Semiconductor claims to be the “first” probe card supplier in mainland China. This claim is not without merit, as it is backed by the company’s technical prowess and market share.

Founded in 2015, Strong Semiconductor is headquartered in the Suzhou Industrial Park and is a high-tech enterprise dedicated to serving the semiconductor design and manufacturing industries. In just a few short years, the company has been able to carve out a place for itself in the domestic probe card market and earn the title of “first” in mainland China. This achievement can be attributed to several unique competitive advantages:

• Deep technical accumulation: Strong Semiconductor has a team of experienced researchers and developers who focus on the design, manufacturing, and assembly of probe cards. Through independent research and development and technology introduction, the company has mastered the core technology of probe cards and continues to innovate.
• Comprehensive product lineup: Strong Semiconductor can provide multiple types of probe cards to meet the testing needs of different chips. This allows the company to offer one-stop solutions to its customers, enhancing customer loyalty.
• Localization service advantage: Compared to foreign probe card suppliers, Strong Semiconductor can provide more rapid and convenient local services. This is particularly appealing to domestic semiconductor enterprises.

It is these advantages that have enabled Strong Semiconductor to stand out in the competitive market and become a leading enterprise in the domestic probe card industry.

战略押注：国产替代的必然选择

Huawei’s investment in Strong Semiconductor is not a coincidence, but a strategic choice in its semiconductor industry layout. In recent years, due to changes in the international situation, China’s semiconductor industry has faced unprecedented challenges. To ensure the stability and security of the supply chain and achieve self-sufficiency in core technologies, Huawei has been actively seeking domestic partners to jointly build a domestic semiconductor industry chain.

As a critical link in semiconductor testing, probe cards have naturally become a focus of Huawei’s attention. Strong Semiconductor, as a leading enterprise in the domestic probe card industry, has naturally become Huawei’s ideal partner.

Huawei’s investment in Strong Semiconductor not only helps the latter expand its production scale and enhance its technical capabilities but also promotes the overall development of the domestic probe card industry and accelerates the process of domestic substitution.

IPO之路：挑战与机遇并存

Strong Semiconductor submitted its IPO application to the Shanghai Stock Exchange’s Sci-Tech Innovation Board on December 30, 2024, and has since undergone questioning. However, its IPO progress is currently suspended (awaiting financial report update). Strong Semiconductor’s IPO journey has not been smooth sailing, and it faces several challenges:

• Technological risks: The semiconductor industry is evolving rapidly. If Strong Semiconductor fails to keep up with technological innovations, it may be overtaken by competitors.
• Market risks: The probe card market is heavily influenced by the semiconductor industry’s ups and downs. If the downstream industry declines, it may affect Strong Semiconductor’s performance.
• Competitive risks: The domestic probe card market is highly competitive, with both domestic and foreign enterprises vying for market share. If Strong Semiconductor fails to maintain its competitive edge, it may lose market share.

However, challenges also present opportunities. If Strong Semiconductor successfully goes public, it will gain more financial support, enabling it to increase research and development investment, expand production scale, and further consolidate its market position.

国产突围：中国半导体产业的未来

Strong Semiconductor’s IPO is more than just an event for a single company; it represents an important attempt by China’s semiconductor industry to achieve self-sufficiency. In the current international context, achieving self-sufficiency in the semiconductor industry has become a strategic goal. The rise of domestic enterprises such as Strong Semiconductor will help break the monopoly of foreign enterprises and enhance China’s semiconductor industry’s overall competitiveness.

However, achieving domestic substitution is not an easy task and requires long-term, unremitting efforts. Chinese semiconductor enterprises need to continuously invest in technology, talent, and capital to ultimately achieve the goal of self-sufficiency.

结语：期待国产半导体的崛起

Strong Semiconductor’s IPO has given us hope for the development of China’s semiconductor industry. Although the road ahead is filled with challenges, we believe that with the joint efforts of the government, enterprises, and research institutions, China’s semiconductor industry will ultimately achieve the goal of self-sufficiency and occupy an important position in the global semiconductor market. Let us look forward to the rise of domestic semiconductor companies and contribute to the development of China’s economy!