Core Viewpoint - Innosilicon, a leading third-generation semiconductor company in China, reported a significant improvement in its financial performance for the fiscal year 2024, with a sales revenue of 828.5 million, representing a 39.8% increase from 2023, and a substantial reduction in overall gross loss margin from -61.6% to -19.5% [1] Group 1: Financial Performance - Innosilicon achieved a sales revenue of 828.5 million in 2024, marking a 39.8% growth compared to 2023 [1] - The overall gross loss margin improved significantly from -61.6% in 2023 to -19.5% in 2024, an increase of 42.1 percentage points [1][3] Group 2: IDM Model and Technological Innovation - Innosilicon's rise is attributed to its disruptive innovation in the IDM (Integrated Device Manufacturing) model, establishing the world's first 8-inch silicon-based gallium nitride production line [2] - The company has achieved a wafer production capacity of 13,000 pieces per month, with a manufacturing yield exceeding 95%, ensuring lower production costs and higher product quality [2][3] Group 3: Competitive Advantage and Market Position - Innosilicon is positioned as a leader in the consumer electronics market, benefiting from the explosive growth in emerging industries such as AI computing, electric vehicles, and robotics [5] - The company has developed a strong customer base across various sectors, including power semiconductor manufacturers, automotive OEM suppliers, and renewable energy companies, enhancing its supply chain capabilities [8] Group 4: Future Outlook - The global gallium nitride power semiconductor market is projected to reach 50.1 billion RMB by 2028, with Innosilicon poised to capitalize on this growth [7] - Innosilicon is expected to enter a "blowout period" in 2025, driven by increasing demand for AI computing and electric vehicles, as well as its ongoing product innovations [6][7]

Core Insights - InnoLux (02577) reported strong revenue growth for the fiscal year 2024, achieving sales of 828 million RMB, a year-on-year increase of 39.8% as the first IDM company to mass-produce 8-inch GaN wafers globally [1] Group 1: Revenue Growth - The company's revenue from consumer electronics grew by 48.0%, expanding its GaN chip applications into various segments such as smartphones, laptops, TVs, air conditioners, audio systems, and kitchen appliances [1] - The automotive electronics sector saw a remarkable growth in chip deliveries, with a year-on-year increase of 986.7% [1] - Revenue from AI and data center applications surged, with chip deliveries increasing by 669.8% due to the mass production of GaN products for 48V to 12V power conversion [1] Group 2: Manufacturing Efficiency - The overall yield rate for the company reached 95% in 2024, with unit manufacturing costs decreasing by nearly 40%, enhancing profitability [1] - The company delivered a total of 660 million chips during the reporting period, with annual shipment volumes showing exponential growth [3] Group 3: International Market Expansion - The overseas sales revenue reached 126.4 million RMB, reflecting a significant year-on-year growth of 118.1% [2]

英 諾 賽 科（ 蘇 州 ）科 技 股 份 有 限 公 司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2577） 建議採納2025年股份獎勵計劃及授權辦理有關事宜 2025年股份獎勵計劃 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 InnoScience (Suzhou) Technology Holding Co., Ltd. 董事會已於2025年3月28日審議並批准建議採納2025年股份獎勵計劃。2025年 股份獎勵計劃須待股東於應屆股東周年大會上審議及批准後，方可作實。 上市規則的影響 2025年股份獎勵計劃構成涉及本公司授出新股份及╱或現有股份的股份計劃， 並須遵守上市規則第17章項下的適用披露規定。根據上市規則第17章，涉及授 出新股份的股份計劃須經上市發行人股東於股東大會上批准。因此，建議採納 2025年股份獎勵計劃須待（其中包括）股東於應屆股東周年大會上批准後，方可 作實。 應屆股東周年大會 本 公 司 將 召 開 應 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 InnoScience (Suzhou) Technology Holding Co., Ltd. 英 諾 賽 科（ 蘇 州 ）科 技 股 份 有 限 公 司 （於中華人民共和國註冊成立的股份有限公司） (1) 日期 （股份代號：2577） 持續關連交易 產品、服務及設備銷售框架協議 產品、服務及設備銷售框架協議 董事會欣然宣布，於2025年3月28日，本公司與星鑰半導體訂立產品、服務及 設備銷售框架協議。據此，本集團同意向星鑰半導體提供氮化鎵外延晶圓、失 效性分析等外送測試服務，以及外延生長設備等機台，期限自2025年1月1日起 至2027年12月31日止（包括首尾兩日），為期三年。 於本公告日期，星鑰半導體由本公司控股股東集團成員Luo博士最終控制。因 此，星鑰半導體構成了本公司於上市規則第14A章項下的關連人士，而產品、 服務及設備銷售框架協議和其項下交易將構成本公司於上市規則第14A章項下 的關 ...

Financial Performance - The company's sales revenue reached RMB 828.5 million, representing a year-on-year growth of 39.8%[5] - The company's total revenue increased by 39.8% from RMB 592.7 million in 2023 to RMB 828.5 million in 2024, driven by strong market demand and growth in overseas markets[28] - Revenue from the sale of GaN discrete devices and integrated circuits surged by 87.8% from RMB 192.1 million in 2023 to RMB 360.8 million in 2024[32] - Total revenue from customer contracts for 2024 was RMB 828,459,000, compared to RMB 592,717,000 in 2023, reflecting a growth of 40.0%[58] - Revenue from mainland China increased to RMB 702,073,000 in 2024, up from RMB 534,764,000 in 2023, marking a rise of 31.3%[63] Cost and Expenses - Sales cost rose by 3.7% from RMB 954.8 million in 2023 to RMB 989.9 million in 2024, with unit production costs decreasing due to production scale effects and process optimization[29] - Gross loss decreased by 55.4% from RMB 362.1 million in 2023 to RMB 161.4 million in 2024, resulting in a gross loss margin reduction from 61.1% to 19.5%[30] - Administrative expenses rose by 82.6% from RMB 247.1 million in 2023 to RMB 451.2 million in 2024, primarily due to increased employee costs and legal service fees[34] - R&D costs decreased by 7.4% from RMB 348.7 million in 2023 to RMB 323.0 million in 2024, attributed to lower unit costs and optimized team structure[35] - Financial costs dropped by 29.3% from RMB 118.9 million in 2023 to RMB 84.1 million in 2024, due to reduced interest from loan repayments and lower market interest rates[36] Profitability - The company reported a pre-tax loss of RMB 1,045,342,000 for 2024, slightly improved from a loss of RMB 1,101,932,000 in 2023[70] - The company's net loss for the year decreased by 5.1% from RMB 1,101.9 million in 2023 to RMB 1,045.7 million in 2024[37] - The operating loss for the year ended December 31, 2024, was RMB 961.277 million, compared to an operating loss of RMB 983.020 million in 2023[49] Liquidity and Capital Structure - Cash and cash equivalents increased significantly from RMB 329.0 million in 2023 to RMB 1,525.0 million in 2024, reflecting improved liquidity[38] - The current ratio increased from 1.2x as of December 31, 2023, to 2.5x as of December 31, 2024, primarily due to increased cash and cash equivalents from global fundraising[41] - The quick ratio rose from 0.8x as of December 31, 2023, to 2.0x as of December 31, 2024, also driven by the increase in cash and cash equivalents from global fundraising[42] - The net debt ratio decreased from 87.9% as of December 31, 2023, to 13.4% as of December 31, 2024, due to increases in cash and cash equivalents and total equity[43] Production and Operations - The overall yield rate reached 95% in 2024, with unit manufacturing costs decreasing by nearly 40%[9] - The company is the first in the world to mass-produce 8-inch GaN wafers, enhancing its competitive edge in the market[10] - The company established a leading mature process technology platform, achieving over 30% improvement in wafer output efficiency with the new 3.0 generation process technology[18] - The overall yield rate exceeded 95% in 2024, supported by enhanced process stability and defect control measures[20] - Cumulative chip deliveries in renewable energy and industrial applications reached 33.0 million units by the end of 2024, showcasing the company's strong capabilities in this area[16] Product Development and Innovation - The company launched over 50 new products during the reporting period, with 471 customer integrations[9] - The company has developed a new generation of 700V GaN devices, expected to start mass production in 2025, which will significantly reduce switching losses[12] - The introduction of the 100V automotive-grade device enhances the performance of lidar systems, meeting the growing demands of automotive applications[14] - The company accelerated the replacement of traditional silicon-based markets with third-generation semiconductors, achieving breakthroughs in multiple fields driven by structural demand changes[16] - In the automotive electronics sector, the company has developed automotive-grade GaN chips, enhancing overall vehicle efficiency and reducing manufacturing costs, with multiple domestic and international OEMs adopting these solutions[16] Market and Sales - Overseas sales revenue reached RMB 126.4 million, marking a year-on-year growth of 118.1%[9] - The company’s overseas market sales revenue reached RMB 126.4 million, accounting for 15.3% of total revenue, with a year-on-year growth of 118.1%[22] - The company delivered server power chips to multiple global manufacturers and launched 650V and 100V GaN power devices, significantly improving power density and efficiency in data centers[16] Human Resources - The company employed 1,147 staff as of December 31, 2024, with a focus on enhancing human resource management through various recruitment and training programs[48] - Employee costs decreased to RMB 590,715,000 in 2024 from RMB 582,878,000 in 2023, showing a slight increase of 1.4%[65] Corporate Governance - The company has confirmed compliance with all applicable corporate governance codes during the reporting period[90] - The company has established an audit committee consisting of three independent non-executive directors to review the audited consolidated financial statements for the year ending December 31, 2024[94] Future Outlook - The company plans to utilize 60% of the net proceeds from the IPO, amounting to approximately HKD 781.48 million, to expand its 8-inch GaN wafer production capacity from 12,500 wafers per month to 70,000 wafers per month over the next five years[91] - The company aims to allocate 20% of the net proceeds, approximately HKD 260.49 million, for research and development to enhance the penetration of GaN products in end markets such as consumer electronics and automotive electronics by 2029[91]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 InnoScience (Suzhou) Technology Holding Co., Ltd. 英 諾 賽 科（ 蘇 州 ）科 技 股 份 有 限 公 司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2577） 自願公告 EPC ITC案之最終裁決 本公告為英諾賽科（蘇州）科技股份有限公司（「本公司」）自願作出。 茲提述本公司日期為2024年12月18日的招股章程，內容有關（其中包括）Efficient Power Conversion Corporation（「EPC」）於美國國際貿易委員會（「ITC」）對本公司 提出的訴訟（「EPC ITC案」）。 本公司董事會（「董事會」）欣然宣佈本公司在EPC ITC案中取得決勝。於2025年3 月18日，美國專利商標局（「USPTO」）發佈最終裁決（「最終裁決」），宣告EPC的 美國專利第8,350,294號（「'294號專利」）的所有索賠無效 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 董事會會議通告 英諾賽科（蘇州）科技股份有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此 宣佈，董事會會議將於2025年3月28日（星期五）舉行，藉以（其中包括）考慮及批 准本公司及其附屬公司截至2024年12月31日止年度業績及其發佈，並考慮建議派 發末期股息（如有）。 承董事會命 英諾賽科（蘇州）科技股份有限公司 董事長兼執行董事 Weiwei Luo博士 InnoScience (Suzhou) Technology Holding Co., Ltd. 英 諾 賽 科（ 蘇 州 ）科 技 股 份 有 限 公 司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2577） 於本公告日期，本公司董事會包括執行董事Weiwei Luo博士、Jay Hyung Son先 生、吳金剛博士及鍾山先生；非執行董事汪燦博士、張彥紅女士及崔米子女士； 及獨立非執行董事黃顯榮先生，榮譽勳章，太平紳士 ...