A small Taiwanese specialty chemicals maker is joining the public market on the back of the AI server boom, a positive sign for Taiwan's push to make key materials at home.

• Yulei Applied Materials starts trading on Taiwan's emerging stock board on August 28 at a reference price of NT$168 a share.
• Revenue has roughly tripled in two years, and the first seven months of this year already beat all of last year.
• Its main product is a chemical used in high-end copper-clad boards, the base layer inside AI server motherboards.
• AI servers need far more layers and better materials than regular servers, and Taiwan builds more than 80% of them, so local suppliers get first call.
• The company is also moving into semiconductor advanced packaging materials and rocket fuel catalysts for aerospace.

Outlook: Demand from AI servers, low-orbit satellites and chipmakers should keep sales climbing, with the listing giving the company cash to expand into higher-margin materials.