Norelsys (Tianjin) Co., Ltd. has begun IPO counseling after filing registration for listing guidance with the Tianjin branch of the China Securities Regulatory Commission, according to regulatory disclosures.
China is pushing ahead with its semiconductor materials strategy. Shanghai, one of the country's leading cities, has included brain-computer interfaces (BCIs) and fourth-generation semiconductors among its priority future industries, signaling early preparation for a new materials era beyond third-generation semiconductors.
AI server architectures are rapidly shifting toward ultra-high-density designs, keeping advanced CoWoS packaging capacity persistently tight. The primary bottleneck stems from continuously expanding chip sizes, which introduce warpage and thermal stress challenges while driving ABF substrate demand to multiply, creating structural supply pressure and underpinning a recovery in 2025 operations for Taiwan's three leading IC substrate makers.
