--- title: "Xinmi Technology's IPO has been terminated: annual revenue of 200 million, Xie Changjie controls 47% of the shares" type: "News" locale: "en" url: "https://longbridge.com/en/news/281353843.md" description: "The IPO application of Xinmi Technology has been terminated, which was originally planned to be listed on the STAR Market, raising 785 million yuan. The company's annual revenue is 200 million yuan, mainly providing semiconductor-grade perfluoroether rubber seals. From 2022 to 2024, the expected revenues are 41.59 million yuan, 130 million yuan, and 208 million yuan, respectively. The controlling shareholder, Xie Changjie, holds 47% of the equity" datetime: "2026-04-01T11:05:33.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/281353843.md) - [en](https://longbridge.com/en/news/281353843.md) - [zh-HK](https://longbridge.com/zh-HK/news/281353843.md) --- # Xinmi Technology's IPO has been terminated: annual revenue of 200 million, Xie Changjie controls 47% of the shares Leidi Network, Lei Jianping, April 1 Shanghai Xinyi Technology Co., Ltd. (referred to as "Xinyi Technology") has recently had its IPO terminated, which was originally planned for listing on the STAR Market. Xinyi Technology originally planned to raise 785 million yuan, of which 526 million yuan was intended for the research and industrialization construction project of semiconductor-grade perfluoroether rubber seals, and 259 million yuan for the construction project of the research and development center. Annual revenue of 200 million Xinyi Technology is a company specializing in semiconductor-grade perfluoroether rubber seals. The company produces perfluoroether rubber materials based on self-developed formulas, providing a full range of vacuum seals and functional components made of perfluoroether rubber for core process equipment in the front-end processes such as etching, film deposition, thermal treatment, and cleaning for domestic semiconductor equipment manufacturers and wafer manufacturers. Xinyi Technology's products can effectively meet the stringent vacuum sealing requirements of different models and a full range of points for core process equipment in the semiconductor front-end processes, covering advanced processes and mature process technology nodes, achieving breakthroughs and large-scale sales in advanced processes such as 232-layer NAND storage chips, 19nm and below DRAM storage chips, and 5nm-14nm logic chips. According to the prospectus, Xinyi Technology's revenue for 2022, 2023, and 2024 is projected to be 41.59 million yuan, 130 million yuan, and 208 million yuan, respectively; net profits are projected to be 1.73 million yuan, 36.39 million yuan, and 68.94 million yuan, respectively; and net profits after deducting non-recurring items are projected to be -1.12 million yuan, 32.81 million yuan, and 63.09 million yuan, respectively. Xie Changjie controls 47% of the shares The controlling shareholder and actual controller of Xinyi Technology is Xie Changjie. Xie Changjie directly holds 20.26% of the company's shares, making him the largest shareholder; he also holds 66.60% and 15.28% partnership shares in Ouriqi and Yuanxi, respectively, and serves as the executive partner, thereby indirectly controlling 26.72% of the voting rights of the company through Ouriqi and Yuanxi. Therefore, Xie Changjie controls a total of 46.98% of the voting rights of the company, making him the controlling shareholder and actual controller of the company. Before the IPO, Oruixi held 16.5% of the shares, Yuanxi held 10.23%, Shen Chuangtou held 8.96%, Zhang Dong held 8.39%, Juyuan Venture Capital held 5.5%, Hushan Huaxin held 4.96%, Zhongnan Hongyuan held 4.41%, Yanquan Technology held 3.81%, Sinochem Innovation held 3.58%, Zhongnan Hongdao held 2.18%, and Hexie Chaoyue held 2.16%; Zhongnan Xinghuo held 1.56%, Luanque Hetian held 1.14%, Taizhou Jianxing and Zhongshan Chenyue held 0.97% each, Pudong Zhizao held 0.93%, Zhongwei Semiconductor and Daohua Fengyuan held 0.76% each, Ruijing Yunjin held 0.54%, Daohua Xinlian held 0.53%, Yangzhou Junbo held 0.51%, Nanchang Ruijing held 0.26%, and Xiamen Hongxing held 0.12%. —————————————— ### Related Stocks - [XSD.US](https://longbridge.com/en/quote/XSD.US.md) - [561980.CN](https://longbridge.com/en/quote/561980.CN.md) - [159995.CN](https://longbridge.com/en/quote/159995.CN.md) - [159516.CN](https://longbridge.com/en/quote/159516.CN.md) - [588200.CN](https://longbridge.com/en/quote/588200.CN.md) - [588170.CN](https://longbridge.com/en/quote/588170.CN.md) - [SMH.UK](https://longbridge.com/en/quote/SMH.UK.md) - [25339.HK](https://longbridge.com/en/quote/25339.HK.md) - [PSI.US](https://longbridge.com/en/quote/PSI.US.md) - [512480.CN](https://longbridge.com/en/quote/512480.CN.md) - [512760.CN](https://longbridge.com/en/quote/512760.CN.md) - [25313.HK](https://longbridge.com/en/quote/25313.HK.md) - [159558.CN](https://longbridge.com/en/quote/159558.CN.md) - [562820.CN](https://longbridge.com/en/quote/562820.CN.md) - [159325.CN](https://longbridge.com/en/quote/159325.CN.md) - [SOXX.US](https://longbridge.com/en/quote/SOXX.US.md) - [SMH.US](https://longbridge.com/en/quote/SMH.US.md) - [588780.CN](https://longbridge.com/en/quote/588780.CN.md) - [159546.CN](https://longbridge.com/en/quote/159546.CN.md) ## Related News & Research - [SK Hynix joins $1T club as AI chip boom lifts market](https://longbridge.com/en/news/287812820.md) - [BREAKINGVIEWS-SK Hynix rally lobs retail investors into AI fire](https://longbridge.com/en/news/287767060.md) - [ACM Research (ACMR) Valuation Check After Strong Multi Period Share Price Gains](https://longbridge.com/en/news/288140389.md) - [Synopsys Q2 revenue, adjusted EPS beat estimates](https://longbridge.com/en/news/287815444.md) - [Apacer Showcases Edge AI Storage Power at COMPUTEX 2026](https://longbridge.com/en/news/287718477.md)