Infinity Capital’s Portfolio Company SJ Semiconductor Listed on Shanghai Stock Exchange

SJ Semiconductor Corporation (688820.SH), a portfolio company under Infinity Capital, officially listed on the Shanghai Stock Exchange on April 21^st, 2026.

Founded in 2014, SJ Semiconductor has become the world’s 10th largest and China’s 4th largest advanced wafer-level integrated circuit packaging and testing enterprise. It is also the only company in China that achieves mass production of 2.5D silicon-based integration, with a domestic market share of up to 85% in this segment. Starting from advanced 12-inch middle-end wafer processing, the company further provides full-process advanced packaging and testing services including wafer-level packaging (WLP) and chiplet multi-chip integration packaging. It is committed to supporting various high-performance chips, especially graphics processing units (GPUs), central processing units (CPUs), and artificial intelligence chips, to achieve comprehensive performance improvements such as high computing power, high bandwidth, and low power consumption through heterogeneous integration following the “More than Moore” strategy.

Statistics show that the total issued shares of the company are approximately 255 million, with 54.373 million shares issued online. The offering price is 19.68 yuan per share, and the total initial fundraising amounts to 5.028 billion yuan, making it the A-share company with the largest fundraising amount since 2026. The offering P/E ratio is 195.62 times, significantly higher than the industry average. SJ Semiconductor plans to use the raised funds for the construction of a 3D multi-chip integration packaging project and an ultra-high-density interconnect 3D multi-chip integration packaging project. On the listing day, the opening price was 99.72 yuan, and the closing price was 76.65 yuan, a surge of 289% from the offering price. Based on the closing price, the company’s market value reached 142.8 billion yuan.

Infinity Capital completed its investment in SJ Semiconductor in June 2023. The person in charge of the investment project stated that SJ Semiconductor focuses on middle-end wafer processing and back-end advanced packaging in the integrated circuit advanced packaging and testing industry. As the world’s 10th largest and China’s 4th largest packaging and testing enterprise, its business concentrates on the new-generation information technology sector, which highly aligns with the core requirements of the STAR Market for hard-tech enterprises. In recent years, the company has achieved explosive performance growth by seizing industry opportunities. The successful listing is an important milestone in the company’s development and a new starting point. It is expected that the company will maintain steady growth, sustain high-growth momentum through industry cycles, and achieve new developments and breakthroughs in the future.

The successful listing of SJ Semiconductor on the A-share market not only represents high recognition from the capital market of the company’s core technical strength, operational quality, and leading industry position, but also another major investment achievement of Infinity Capital in deepening value investment in hard technology and accurately laying out the core semiconductor sector. It is also a vivid practice of capital empowering the real industry, supporting domestic hard-tech enterprises in domestic substitution, and achieving independent and self-reliant development. Relying on the professional financing platform and standardized development opportunities of the A-share capital market, SJ Semiconductor will continue to focus on its core business of advanced packaging, increase investment in R&D and innovation, accelerate the iteration and upgrading of core technologies and the expansion and upgrading of high-end production capacity, further deepen industrial chain collaboration, strengthen core market competitiveness, and continue to lead the domestic advanced packaging track, injecting new growth momentum into the high-quality development of China’s integrated circuit industry.