NuAxiSemiconductor trade intelligence
[News] China’s Chip Materials Drive Intensifies as Photoresist Leader Red Avenue Seeks Hong Kong IPO
What happened
Red Avenue New Material Group, China's leading domestic photoresist supplier, filed for a Hong Kong IPO. Its KrF photoresist holds over 40% domestic share, and its semiconductor photoresist revenue grew over 50% YoY in H1 2025. Watch: IPO could signal accelerated domestic supply chain development, but global market remains dominated by Japanese/American firms.
Impact and signal
Medium impactImpact score: 45/100
Affected components and suppliers
KrF PhotoresistArF PhotoresistCMP Polishing Pad
Red Avenue New Material GroupJSR CorporationTOKDuPontShin-Etsu ChemicalFujifilm
ipomarket-sharecapacity-expansion
Source and time
Source: TrendForce · 2/25/2026 · View original source
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