en.Wedoany.com Reported - On July 7, the IPO application of Shanghai Silang Technology Co., Ltd. (referred to as "Silang Technology"), a chip design company, on the STAR Market was accepted by the Shanghai Stock Exchange. The company was established on June 16, 2016, registered in Shanghai, and is a national-level specialized and new "Little Giant" enterprise. According to the "2026 Global Unicorn List" released by the Hurun Research Institute, Silang Technology ranks 1118th with a valuation of 8 billion yuan, making it a unicorn enterprise in the semiconductor industry.

Silang Technology primarily focuses on independent chip research, development, and industrial application based on its high-performance core architecture MaPU. It also provides customers with software and hardware products and solutions using its self-developed chips as the core. It is one of the very few semiconductor companies globally capable of completing a comprehensive ecological layout in the field of scientific intelligence, spanning computing architecture, chips, complete machines, industrial simulation software, and high-quality datasets. The company is also a leading enterprise in China's scientific computing industry. Leveraging its self-developed MaPU architecture, it has created the "Tianqiong" 3D scientific computer, whose performance is on par with the Anton2 supercomputer in the United States, with a cumulative molecular dynamics simulation duration exceeding 10,000 microseconds. According to data from the China Academy of Information and Communications Technology, "Tianqiong" is the only product in China capable of daily molecular dynamics simulation calculations for million-atom systems at the microsecond level.

Before this IPO issuance, Times Zeyuan (held by CATL), Jicheng North, Juyuan Langrui (with SMIC indirectly held SMIC Juyuan private equity fund as its partner), and Juyuan Xinchuang (indirectly held by SMIC) held 3.69%, 2.56%, 2.04%, and 0.65% of Silang Technology's shares, respectively.

Silang Technology's "Tianqiong" scientific computer product has been delivered and is in commercial operation at the Yangtze River Scientific Computing Center. The company has reached construction agreements with cities such as Shanghai and Chengdu. Currently, "Tianqiong" has served clients including the National New Materials Big Data Center, Shanghai Artificial Intelligence Laboratory, China Pharmaceutical University, Shanghai AI Lab, and industry leaders like CATL. The proposed IPO aims to raise 4.426 billion yuan, of which 3.257 billion yuan will be used for the next-generation scientific intelligent chip research, development, and industrialization project, and 1.169 billion yuan will be invested in the high-performance converged computing system research and development project.

In 2023, 2024, and 2025, Silang Technology's revenue was 251 million yuan, 424 million yuan, and 673 million yuan, respectively, with total revenue over three years exceeding 1.3 billion yuan; net profit was -319 million yuan, -300 million yuan, and -406 million yuan, respectively; R&D expenses were 249 million yuan, 468 million yuan, and 710 million yuan, respectively. In the first quarter of 2026, revenue, net profit, and R&D expenses were 137 million yuan, -283 million yuan, and 285 million yuan, respectively.

Main business revenue primarily comes from scientific computing and advanced communications businesses. From 2023 to the first quarter of 2026, scientific computing contributed revenue of 249 million yuan, 411 million yuan, 660 million yuan, and 132 million yuan, respectively, accounting for 100%, 97.59%, 99.02%, and 97.37% of total revenue. Among this, revenue from scientific computer products consistently accounted for over 90%; revenue from scientific computing chips and scientific computing software was only generated in 2024, at 7.5327 million yuan and 1.8868 million yuan, respectively, representing 1.79% and 0.45% of total revenue for that period. From 2024 to the first quarter of 2026, revenue from communication baseband chips accounted for 0.25%, 0.5%, and 1.3%, respectively.

During the reporting period, all main business revenue came from mainland China. The gross profit margin for main business was 77.17%, 84.01%, 89.06%, and 88.34%, respectively, with the gross profit margin for advanced communications software at 100%, and for scientific computer products at 80.39%, 84.44%, 89.23%, and 89.19%, respectively. The comprehensive gross profit margin is significantly higher than comparable companies in the same industry, mainly due to product scarcity, full-stack self-development, and architectural advantages.

As of March 31, 2026, Silang Technology had 539 R&D personnel, accounting for 79.26% of total employees. As of the end of the reporting period, the company held a total of 150 patents domestically and internationally, including 112 domestic invention patents and 7 foreign invention patents. The company has built a complete product system covering scientific computing and advanced communications around the MaPU architecture. In the scientific computing direction, it has launched hardware products such as chips and scientific computers based on the HPP series scientific computing chips, and has simultaneously developed the SCALE development platform and application software.

Customer concentration is relatively high. From 2023 to the first quarter of 2026, sales from the top five customers accounted for 100%, 99.55%, 99.84%, and 99.71% of current period revenue, respectively. The largest customer, Yangtze River Scientific Computing, contributed revenue of 251 million yuan, 405 million yuan, 666 million yuan, and 134 million yuan, respectively, accounting for 100%, 95.39%, 99.03%, and 97.4% of total revenue.

Regarding suppliers, purchases from the top five suppliers accounted for 80.85%, 53.61%, 67.98%, and 89.33% of total procurement during the reporting period.

Founder, Director, and Chief Scientist Wang Donglin directly holds 13.37% of Silang Technology's shares, and through Shanghai Langyan, Shanghai Chengyue, Shanghai Langyao, Shanghai Fenyue, Shanghai Kuanglang, and Shanghai Zhaolang, controls a total of 20.30% of voting rights, and a total of 33.67% of voting rights corresponding to shares, making him the controlling shareholder and actual controller. Born in 1956, Wang Donglin holds a doctoral degree and previously served as the director of the Institute of Automation, Chinese Academy of Sciences. He founded Silang Technology in 2016. From 2023 to the first quarter of 2026, the total compensation for the company's directors, supervisors, senior management, and core technical personnel was 9.2705 million yuan, 11.9716 million yuan, 14.3715 million yuan, and 3.16 million yuan, respectively.

Currently, China's scientific intelligence track is in the early industrialization stage, with a long-term supply gap for underlying dedicated computing chips. Silang Technology, relying on its self-developed MaPU architecture, connects two business lines: scientific computing and advanced communications. Revenue is highly concentrated in scientific computing complete machine products, while the communication chip business is still in a small-scale revenue stage. The company has a concentrated customer structure, high R&D investment, and an unbalanced business structure. The subsequent commercialization expansion and product line diversification process will continue to be influenced by downstream computing power construction and the pace of domestic communication equipment substitution.