Shangfeng Cement Participates in the Listing of Onruiwei, a Semiconductor Enterprise

2025-12-16 15:10:08

Onruiwei, a leading domestic RF chip company invested by Shangfeng Cement, was successfully listed on December 16. Onruiwei is a state-level specialized and new "Little Giant" enterprise focusing on RF and analog chip design. Its core business is RF front-end chips and RF SoC chips. The company has achieved a breakthrough in international monopoly on 5G high-integration modules with high technical barriers, and has achieved large-scale shipments in mainstream mobile phone brands. The cumulative R & D investment of Onruiwei in the past three years accounted for 20.77% of its revenue, far exceeding the average level of the innovation board.

Onruiwei, a leading domestic RF chip company invested

by Shangfeng Cement , was successfully listed on December 16. Onruiwei is a state-level specialized and new "Little Giant" enterprise focusing on RF and analog chip design. Its core business is RF front-end chips and RF SoC chips. The company has achieved a breakthrough in international monopoly on 5G high-integration modules with high technical barriers, and has been in the mainstream mobile phone brands. The cumulative R & D investment of Onruiwei in the past three years accounted for 20.77% of its revenue, far exceeding the average level of the innovation board.

This is the fourth semiconductor industry chain company listed on the Science and Technology Innovation Board since Shangfeng Cement invested in the new economy. Crystal Integration (688249) was listed on the Science and Technology Innovation Board on May 5, 2023, and Xi'an Game Material (688783) was successfully issued on the Science and Technology Innovation Board on October 28, 2025. The acquisition of Shanghai Xinsheng by Shanghai Silicon Industry (688126) through the issuance of cash and shares has been registered on November 25, 2025. Among the enterprises invested

by Shangfeng through the fund, there are still many enterprises that have entered the stage of application for listing and issuance or merger and reorganization: Shanghai Super Silicon, Chuyuan New Material and Dongyue Future have accepted and announced the return of inquiries; Shenghe Jingwei accepted by the Science and Technology Innovation Board and Zhongrun Solar Energy accepted by the Hong Kong Stock Exchange; Changxin Technology, Guangzhou Yuexin and Xinhua Semiconductor have completed the acceptance of counseling and filing; Core Yaohui and Tiancheng Aviation Materials, which have been put on record for guidance, and Pioneer Electrical Branch, which is to be reorganized and injected into Quzhou Development. The comprehensive benefits of the "two-wheel drive" of the company's

cornerstone building materials business and capital business have begun to show, and continue to consolidate the resource base for the cultivation of the second growth curve business with the strategic goal of new materials.

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Onruiwei, a leading domestic RF chip company invested by Shangfeng Cement, was successfully listed on December 16. Onruiwei is a state-level specialized and new "Little Giant" enterprise focusing on RF and analog chip design. Its core business is RF front-end chips and RF SoC chips. The company has achieved a breakthrough in international monopoly on 5G high-integration modules with high technical barriers, and has achieved large-scale shipments in mainstream mobile phone brands. The cumulative R & D investment of Onruiwei in the past three years accounted for 20.77% of its revenue, far exceeding the average level of the innovation board.

2025-12-16 15:10:08

More vigilance is that capacity replenishment is essentially a reinvestment behavior, for cement enterprises, as soon as possible to recover investment costs is the core demand, which means that the probability of enterprises will significantly increase capacity utilization next year. For enterprises with no overproduction space and no capacity to supplement, they can only produce in strict accordance with the approved capacity. It is difficult to reconcile the uneven and "unfair" contradictions at the operational level, which will further aggravate the instability of the cement market next year. It can be predicted that after this round of supplementary production, a new round of market competition in the cement industry will begin.