In June 2025, Yitoa Semiconductor (stock code: 688729) submitted an application for the subscription of new shares on the STAR Market, with each share priced at 8.45 yuan. The company specializes in integrated circuit manufacturing equipment, offering a range of products such as dry de-gluing, rapid thermal processing, and dry etching equipment. Despite witnessing a gradual increase in its gross profit margin, Yitoa Semiconductor still lags behind the industry average. Over the past few years, the company's revenue has fluctuated, amounting to 4.763 billion yuan, 3.931 billion yuan, and 4.633 billion yuan, respectively, with corresponding variations in net profit. Facing intense competition from international leaders, Yitoa Semiconductor grapples with gaps in market share and product line coverage. Additionally, the company maintains a relatively high inventory level, which poses certain risks. This initial public offering (IPO) aims to raise 2.5 billion yuan, funds that will be allocated to research and development (R&D), manufacturing projects, and technological reserves.