Recently, the official website of the Shenzhen Stock Exchange showed that Giga Force Electronics Co., Ltd. (hereinafter referred to as "Giga Force") successfully passed the ChiNext IPO review.
It is reported that the company plans to use CNY 923,748,800 of the raised funds for this IPO, mainly for the Pudong Technology Center project, the automotive-grade high-reliability mass production test service construction project, the chip pilot scale-up platform engineering technology R&D project, and supplementing working capital.
Founded in 2008 and headquartered in Minhang District, Shanghai, Giga Force is a full-function, one-stop solution provider for testing services and testing hardware products in the semiconductor field. The company has established subsidiaries in semiconductor industry clusters such as Shanghai, Beijing, Hangzhou, Shenzhen, and Chengdu.
According to the prospectus, Giga Force provides third-party laboratory testing and analysis services, testing hardware products such as IC (Integrated Circuit) test boards, and mass production testing services around the testing needs of semiconductor full industry chain enterprises including chip design, wafer manufacturing, and packaging.
The "0-1" stage of a chip usually includes four major links: design, engineering tape-out, engineering packaging, and verification. Semiconductor testing mainly occurs in the verification stage, including testing and analysis. Testing uses customized IC test boards and other hardware as carriers to conduct reliability and other tests on chips through different types of test handlers; analysis refers to defect localization and fault analysis of failed samples through laboratory services such as failure analysis and material analysis to achieve problem determination. The mass production stage usually includes three major links: wafer manufacturing, mass production packaging, and mass production testing. Mass production testing includes wafer testing and final product testing; quality monitoring runs through the three major links of the mass production stage, referring to further ensuring the quality of mass-produced chips through means such as reliability testing and failure analysis.
Giga Force can provide customers with full-function, one-stop semiconductor testing services for the above two stages. It can not only provide third-party laboratory testing and analysis such as failure analysis, material analysis, and reliability testing, as well as customized testing hardware products, but also provide mass production testing services. This helps customers quickly locate and verify problems, improve chip R&D efficiency, shorten R&D cycles, optimize process yield, and reduce development costs, providing high-reliability guarantees for the full life cycle of various chips from design and engineering verification to mass production.
The testing services and testing hardware products provided by the company can comprehensively cover various chips such as digital, analog, memory, power, RF, and complex SoC (System on Chip). It has the testing service capabilities for high-end chips such as CPU, GPU, memory chips, and AI (Artificial Intelligence) chips, and can meet the testing needs of advanced processes (the most advanced process case has covered 3nm chips), advanced packaging (2.5D, 3D packaging, etc.), mature processes, and special processes.
Currently, the company has established cooperative relationships with more than 3,000 customers in the semiconductor industry chain. The customers cover all links such as chip design, wafer manufacturing, and packaging and testing, including well-known enterprises such as Zhongxing Tongxun, Gaotong, Hua Hong Grace, and Changdian Keji.
The growth in market demand is intuitively reflected in the operating data of Giga Force. In 2023, 2024, 2025, and the first half of 2026 (hereinafter referred to as the "reporting period"), the company recorded revenues of CNY 443 million, CNY 583 million, CNY 669 million, and CNY 379 million; and net profits of CNY 20.4541 million, CNY 54.3755 million, CNY 91.2555 million, and CNY 40.1583 million. The compound revenue growth rates from 2023 to 2025 reached 22.88% and 111.22%, respectively.
In addition, the company has gathered a group of outstanding talents with interdisciplinary backgrounds and rich industry experience, accumulated a massive number of cases of testing various chip types and detecting and analyzing various failure situations, and formed a series of core technologies in third-party laboratory testing and analysis, IC test board design and simulation, and mass production testing. As of the signing date of this prospectus, the company and its subsidiaries own 140 patents, including 58 invention patents.
In terms of honors, the company was awarded as a national key "Little Giant" enterprise by the Ministry of Industry and Information Technology, a National Advanced Manufacturing Cluster (Automotive-Grade Chip Engineering Test Service Platform), an outstanding supporting service enterprise for "China Core", an outstanding science and technology "Little Giant" enterprise in Shanghai, a demonstration platform for service-oriented manufacturing in Shanghai, a specialized, refined, differential, and innovative SME in Shanghai, and an outstanding expert workstation, among others.
For this IPO, the raised funds will mainly be used for the Pudong Technology Center project, the automotive-grade high-reliability mass production test service construction project, the chip pilot scale-up platform engineering technology R&D project, and supplementing working capital.
It is reported that the Pudong Technology Center project was launched in Beicai Town, Pudong New Area in October 2025. The Pudong Technology Center is planned to be built in about 20 months, and will create an integrated verification and service system covering the entire chain of IC "basic laboratory, software and hardware design, and instrument development". After the project is completed, it will further enhance the company's comprehensive service capabilities in multiple fields such as IC, new energy, new materials, and new equipment.
Editor | Liu Chengxing Source | Compiled from the internet