Supermask Gains Approval for $164 Million Private Placement
In December last year, Supermask submitted an application to the Shanghai Stock Exchange to raise funds through a private placement, and the project has recently made significant progress.
On August 9, Supermask announced that the Shanghai Stock Exchange reviewed the company’s fundraising prospectus and related documents. The exchange found the documents complete and compliant with legal standards, allowing them to proceed with further review.
Supermask is engaged in the research, design, production, and sales of photomask products. In the flat-panel display sector, it provides photomasks for a-Si, LTPS, AMOLED, and Micro-LED displays. In the semiconductor industry, their products support various applications such as IC Foundry, IC Bumping, and IC Substrates, covering power semiconductors, third-generation semiconductors, and LED technologies.
According to the fundraising prospectus, Supermask plans to issue shares to specific investors, aiming to raise up to 1.2 billion yuan (approximately $164 million). After deducting issuance costs, the funds will be allocated as follows:
| Project Name | Project Investment Amount | The amount of Funds Raised is to be Used |
| High Precision Mask Plate Production Base Construction Project Phase I | 80,001.42 | 60,000.00 |
| High-end Semiconductor Mask Plate Production Base Construction Project Phase I | 60,464.56 | 60,000.00 |
| Total | 140,465.97 | 120,000.00 |
Expansion of Photomask Production Facilities
The first phase of the “High-Precision Photomask Production Base Construction Project” will be led by Foshan Supermask, a subsidiary of Supermask, with a planned investment of 800 million yuan (approximately $109 million). Out of this, 600 million yuan ($82 million) will be funded from the raised capital to produce 8.6-generation and smaller high-precision photomasks used in a-Si, LTPS, AMOLED, LTPO, Micro-LED, and other flat-panel display technologies.
Photomasks play a crucial upstream role in the electronics industry, serving as vital tools in manufacturing flat-panel displays, semiconductor chips, touch panels, and circuit boards. These products are essential in consumer electronics, household appliances, automotive electronics, and various other sectors.
Supermask has already achieved mass production of 8.6-generation TFT and 6-generation AMOLED/LTPS photomasks, completed the coating of photomask substrates, and delivered HTM products. The company is now developing ultra-high-precision 6-generation AMOLED/LTPS photomasks, as well as high-spec HTM and PSM products.
Building a Strong Customer Base
Supermask has established strong partnerships with major domestic flat-panel display manufacturers, including BOE, Visionox, HKC, TIANMA, TCL, TRULY, IVO, HannStar, and AUO.
Supermask noted that as a core tool in the flat-panel display production process, the rapid growth of the display industry has driven demand for photomasks. Upon completion, the project will expand the company’s production capacity for flat-panel display photomasks, enhancing localization and overall supply chain support for high-precision photomasks.
Advancing High-End Semiconductor Photomask Production
The first phase of the “High-End Semiconductor Photomask Production Base Construction Project” will also be led by Foshan UPERMICRO, a subsidiary of Supermask. This phase will focus on producing high-end semiconductor photomasks for 250nm-65nm process nodes, with a total planned investment of 605 million yuan (approximately $83 million). All 600 million yuan ($82 million) required will be drawn from the raised funds.
Photomasks are critical tools in the photolithography process of semiconductor manufacturing, serving as templates for transferring circuit patterns onto silicon wafers. They act as a crucial link between chip designers and wafer manufacturers.
In its semiconductor photomask business, Supermask has already achieved mass production of photomasks for 180nm process nodes used in 8-inch semiconductor chips. Its clients include XMC, Sanan Optoelectronics, Accelink, Silan Microelectronics, Techcode, Jita Semiconductor, China Resources Microelectronics, SMI, and JCET.
Preparing for Growing Market Demand
Supermask expects the market demand for semiconductor photomasks to continue expanding as the semiconductor industry evolves. Successful implementation of these fundraising projects will enable the company to capitalize on growth opportunities in both the semiconductor and photomask sectors, enhance its technological capabilities, expand production capacity, and promote sustainable growth.
Looking ahead, Supermask aims to strengthen its position in the flat-panel display and semiconductor photomask sectors, increase its competitive advantage, and intensify its research and development efforts.
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