Vietnam Asia Semiconductor's GEM IPO passed the listing committee meeting for the world's first batch of “coreless” IC package board mass production companies

The Zhitong Finance App learned that on July 16, the IPO of Zhuhai Yueya Semiconductor Co., Ltd. (abbreviation: Yueya Semiconductor) passed the Shenzhen Stock Exchange Listing Committee meeting. The sponsor of this IPO is CITIC Securities.

According to the prospectus, Yueya Semiconductor is mainly engaged in R&D, production and sales of key materials and products for advanced packaging. Its main products include IC packaging boards and embedded packaging modules. It is one of the first mainland enterprises to produce IC encapsulated boards in China. It is one of the first enterprises in the world to mass-produce “coreless” IC encapsulation boards using the self-patented “copper column lamination method”. It produces RF module loading boards, ASIC chip packaging boards, and embedded packaging modules all have strong market competitiveness in relevant domestic and foreign market segments. It is also one of the local manufacturers that successfully put into mass production.

The company's main products include IC package board and embedded package module. Among them, IC package board products mainly include RF module package board, ASIC chip package board, flip chip ball grid array package board, and power management chip package board. The company's products are mainly used in fields such as RF front-ends, high-performance computing, CPU/GPU/ASIC processors, network connections, and power management. Terminal applications include portable consumer electronics products such as mobile phones and tablets, AI servers, computing power centers, and communication base stations.

The company uses copper column technology with independent intellectual property rights to industrialize coreless sealed loading boards, and has developed hybrid embedded packaging technology for active and passive components based on copper pillar technology. It is one of the few companies in the world to industrialize embedded chip technology. It can embed wafers and passive components in the package loading board, greatly reducing the packaging area and improving the performance of packaging module products.

The company is deeply involved in the RF front-end and power management analog chip markets, and is also actively developing the digital chip market represented by high-performance computing requirements. It has now become a sealed board enterprise with certain international competitiveness. Its products have been widely recognized by high-quality customers at home and abroad such as Qorvo (Qorvo), Texas Instruments (TI), Zhanxun Communications, Zhuosheng Wei, Weijie Chuangxin, and VeriSilicon Micro, and has formed a stable supply relationship.

Against the backdrop of growing demand for computing power and high-speed network communication driven by the development of AI technology and the continuous deepening trend of automobile electrification and intelligence, Viet Ya Semiconductor is guided by market applications. In the future, it will steadily develop the digital chip market on the basis of consolidating its competitive advantage in the analog chip market, gradually expand product applications from consumer electronics, industrial applications, etc. to automotive electronics, etc., and is committed to becoming the world's leading provider of semiconductor modules and semiconductor device solutions related to IC encapsulated boards.

The composition of the company's main business revenue by product type during the reporting period was as follows:

On the financial side, in 2023, 2024 and 2025, the company's operating revenue was $1,705 million, $1,796 million and $2,089 million respectively; net profit was $192 million, $207 million and $307 million respectively.