Semiconductor power engineering factory Dayi Orange will be listed on the counter on October 6, with a reference price of 252 yuan

Semiconductor power system engineering factory Dayi Orange (7951) will be listed on the stock market on October 6, with a reference price of 252 yuan per share. Dayi Orange undertakes about 70% to 80% of TSMC's (2330) high-tech factory power projects. As its major customer TSMC continues to promote the construction of factories at home and abroad, Dayi Orange's operating scale has also rapidly expanded in recent years, and its current orders on hand have exceeded the 10 billion yuan mark.

Dayi Orange's main business is the construction, testing and maintenance of high-tech factory power system engineering. Its services cover MEP engineering, power interconnection, secondary power distribution and general factory engineering. Engineering and maintenance revenue is the main source of revenue; in recent years, the business scope has extended to 1.5 times power distribution, plant main system engineering (SP1) and computer room (CCD).

Dayi Orange chairman Xie Zhongping said that Dayi Orange started with secondary power distribution and interconnection engineering of semiconductor factories. Benefiting from AI, high-performance computing (HPC), advanced processes and the global semiconductor production expansion wave, the scale of operations has been rapidly expanded in recent years. It has further copied Taiwan's high-tech factory power engineering experience to the US, Japan, Germany and Singapore markets, forming a dual-track growth strategy of Taiwan's deep cultivation and overseas expansion.

Xie Zhongping pointed out that Dayi Orange has established standardized construction, material consumption and manpower scheduling mechanisms in response to the industry characteristics of tight semiconductor factory construction schedule and high demand for flexible machine entry schedules. Since the secondary allocation projects of wafer fabs are usually jointly undertaken by multiple manufacturers, Dayi Cheng relies on its construction efficiency and rapid manpower deployment capabilities to further take over the machine quotas of manufacturers that are lagging behind in progress, expand the actual contracting scale, and develop towards high-tech factory integration engineering services.

As TSMC continues to promote overseas expansion, Dayi Orange has also successively established or acquired subsidiaries in Kumamoto, Japan, Arizona, Singapore and Germany. As of August this year, overseas subsidiaries accounted for 30% of revenue.

From the perspective of financial figures, Dayi Orange's revenue will be 1.150 billion yuan in 2024, growing to 2.659 billion yuan in 2025, an annual increase of 131.18%, with an after-tax profit of 395 million yuan, and an after-tax profit per share of 23.3 yuan. In the first half of this year, consolidated revenue reached 2.506 billion yuan, with after-tax earnings of 317 million yuan and after-tax earnings per share of 15.47 yuan.