[Insights] China’s Chip Equipment Industry Rides 2025 IPO Wave to Boost Localization

Alongside acquisitions and support from national funds, China’s chip equipment sector has also welcomed a wave of new IPOs this year. In the testing equipment segment, Sidea Semiconductor Equipment was successfully listed on the Shenzhen Stock Exchange on March 24. The company focuses on developing testing tools such as probe stations and sorters, as TrendForce notes.

In the more technically demanding lithography segment, supporting and auxiliary equipment makers are also moving into the capital market. As highlighted by TrendForce, Zhongdao Optoelectronic Equipment’s IPO application has been accepted; the company primarily focuses on the R&D of semiconductor lithography equipment.

In addition, Chengdu LasTop Tech, which specializes in laser thermal processing equipment, had its STAR Market IPO application accepted in September. Laser thermal processing tools play a crucial role in key processes such as annealing. As TrendForce indicates, the industrialization of these supporting tools strengthens the overall localization of China’s lithography equipment supply chain.

Meanwhile, in the area of core components, KYKY Technology’s Beijing Stock Exchange IPO application was accepted in June. The company focuses on dry vacuum pumps and vacuum science instruments. According to TrendForce, as the “heart” of front-end high-vacuum process equipment—such as etching, PVD, and CVD tools—domestic breakthroughs in dry vacuum pumps are essential for advancing China’s semiconductor manufacturing capabilities.

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