Li-Ying IPO Surges up to 33% on First Day, Targeting Semiconductor Circular Economy

Li-Ying, a company capturing the resource regeneration market for waste hydrofluoric acid and calcium fluoride sludge from semiconductor processes, listed on the OTC market today. From an offering price of 120 TWD, it hit a high of 160 TWD, a 33.33% gain, before closing at 144 TWD. The company uses its facilities in Taichung and Tainan as core expansion hubs. It aims to upgrade its circular economy model from steelmaking flux (1.0) to back-supplying semiconductors (2.0) and eventually toward closed-loop recovery for original processes (3.0). As demand for AI, 5G, and advanced processes grows, the volume of process waste also increases, amplifying the need for recycling services. Chairman Chen Chun-chi stated that their advantage lies in standardized, automated 'smart continuous production lines,' which improve efficiency and quality. Since 2013, their monthly processing capacity has surged by 1800%, reaching an expected 3800 tons in 2026.