Chengdu Superpure jumps 655% on debut, hits 50.7B-yuan valuation
What's the deal? Chengdu Superpure Applied MaterialsDealroom has a profile for this one. Try Dealroom →, a Sichuan-based supplier of core components for semiconductor equipment, listed on the Shenzhen Stock Exchange in August 2026, raising roughly 1.68 billion yuan (about $249 million). Shares priced at 65.99 yuan surged as high as 654.66% to 498 yuan on opening day, giving the company a market value of 50.719 billion yuan.
Who's behind it? The firm is controlled by two brothers from Sichuan: Chai Jie, chairman and general manager, holds 31.42%, and his elder brother Chai Lin, director and chief engineer, holds 15.46%. Other shareholders include SDIC Venture CapitalDealroom has a profile for this one. Try Dealroom →, carmaker BYD, and Advanced Micro-Fabrication Equipment Inc. ChinaDealroom has a profile for this one. Try Dealroom →.
Why now? Superpure oversold its offering, raising well above the 1.125 billion yuan planned in its prospectus, with an over-subscription ratio of 49.33%. BYD also joined the strategic placement, taking 0.45% of the placed shares.
What it means. Founded in August 2005, Superpure makes special coating components and precision optical devices for chip equipment. It is one of few domestic suppliers of core parts for etching equipment at process nodes of 5nm and below.
By the numbers. Revenue was 169 million yuan in 2023, and total revenue topped 900 million yuan across three years. Special coating components made up over 90% of revenue in 2025.
Where the money goes. Proceeds will fund industrialisation of core optical components and semiconductor materials, capacity expansion at its Meishan base, a new headquarters and R&D centre, and working capital.
The signal. China holds the world's largest markets for both semiconductor consumption and equipment sales, but its domestic production rate for that equipment remains low. Superpure ranked first among domestic makers of special coating components in 2024, with a 5.7% overall share of the mainland market — a sign of strong investor interest in homegrown chip supply chains.
Read more: 36Kr
Image credit: Generated with Gemini
