2025年11月28日，苏州纳芯微电子股份有限公司在香港联交所网站正式递交H股招股说明 书，预计将于12月8日正式挂牌交易。作为一家已在科创板上市、深耕模拟芯片领域多年的 企业，纳芯微正以A+H的架构迈入新的发展阶段，为其全球化布局打开更广阔的资本与产业 合作空间。 从招股书披露的内容来看，本次H股发行呈现出三个颇具信号意义的特征： 其一，基石投资者阵容极为亮眼，涵盖国家级战略基金、产业链龙头企业以及国际知名投资机构， 显示出多元资本对纳芯微未来增长的高度认可；其二，发行结构中，国际配售占比高达90%，面向 全球机构投资者，彰显出公司主动拥抱国际资本市场的战略方向；其三，纳芯微在多个关键细分赛 道已建立起稳固的技术与市场领先地位，为其国际化扩展提供了扎实的业务基础。 综合来看，这三大特征的叠加，使纳芯微此次赴港上市不仅成为公司自身发展的重要里程碑，也为 中国半导体企业深化国际化探索提供了一个具有代表性的样本。 国家级基金领投，组成最强基石组合 模拟芯片作为连接物理世界与数字世界的核心器件，是半导体产业中最基础、也最不可替代的环 节，广泛应用于汽车电子、工业控制、通信设备及大量智能终端。 然而，这一关键赛道长期 ...

刊发H股招股说明书、H股发行价格区间 及H股香港公开发售等事宜的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 苏州纳芯微电子股份有限公司（以下简称"公司"）正在进行申请境外发行股份（H股）并在香港联合交 易所有限公司（以下简称"香港联交所"）主板上市（以下简称"本次发行H股及上市"或"本次发行"）的 相关工作。 2025年4月25日，公司向香港联合交易所递交了本次发行上市的申请，并于同日在香港联合交易所网站 刊登了本次发行并上市的申请资料。按照本次发行上市的时间安排并根据香港联交所的相关规定，公司 于2025年10月27日向香港联交所重新递交了本次发行的申请，并于同日在香港联交所网站刊登了本次发 行的申请资料。具体内容详见公司分别于2025年4月28日、2025年10月29日在上海证券交易所官方网站 （www.sse.com.cn）披露的《关于向香港联合交易所有限公司递交H股发行及上市的申请并刊发申请资 料的公告》（公告编号：2025-023）、《关于重新向香港联合交易所有限公司递交H股发行及上市的申 请并刊发申请资料 ...

Core Viewpoint - Naxin Micro, a leading automotive-grade analog chip company, is set to launch its "A+H" development phase with a global offering of 19.0684 million H-shares, marking a significant step in its internationalization strategy [2][8] Group 1: IPO Details - The company plans to issue 19.0684 million H-shares, with 1.9069 million shares available in Hong Kong and 17.1615 million shares for international investors, at a maximum price of HKD 116.00 per share [2] - The pricing date is expected to be December 4, with trading commencing on December 8 [2] Group 2: Cornerstone Investors - Naxin Micro has secured seven cornerstone investors, raising approximately HKD 1.089 billion, which accounts for 49.23% of the total offering [4] - Notable cornerstone investors include BYD, Xiaomi, and Sanhua Intelligent Control, indicating strong support from industry leaders [5] Group 3: Business Overview - Founded in 2013 and listed on the STAR Market in 2022, Naxin Micro focuses on high-performance integrated circuit chip R&D and design, operating under a Fabless model [7] - The company has captured nearly one-third of the domestic analog chip market in the isolation product segment and close to 50% market share in the domestic electric vehicle three-electric system chip sector [7] Group 4: Internationalization Strategy - Naxin Micro has established branches in Japan, South Korea, and Germany, with plans to enhance its global market presence as a key strategic focus for the next five years [7] - The IPO proceeds will be allocated as follows: 18% for enhancing technical capabilities, 22% for expanding automotive electronic applications, 25% for overseas market expansion, 25% for strategic investments or acquisitions, and 10% for working capital [8]

证券代码：688052 证券简称：纳芯微 公告编号：2025-056 苏州纳芯微电子股份有限公司 关于刊发H股招股说明书、H股发行价格区间及H股香 港公开发售等事宜的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 苏州纳芯微电子股份有限公司（以下简称"公司"）正在进行申请境外发行 股份（H 股）并在香港联合交易所有限公司（以下简称"香港联交所"）主板上 市（以下简称"本次发行 H 股及上市"或"本次发行"）的相关工作。 2025 年 4 月 25 日，公司向香港联合交易所递交了本次发行上市的申请，并 于同日在香港联合交易所网站刊登了本次发行并上市的申请资料。按照本次发行 上市的时间安排并根据香港联交所的相关规定，公司于 2025 年 10 月 27 日向香 港联交所重新递交了本次发行的申请，并于同日在香港联交所网站刊登了本次发 行的申请资料。具体内容详见公司分别于 2025 年 4 月 28 日、2025 年 10 月 29 日在上海证券交易所官方网站（www.sse.com.cn）披露的《关于向香港联合交易 所有限公司 ...

证券代码：688052 证券简称：纳芯微 公告编号：2025-057 苏州纳芯微电子股份有限公司 关于回购股份事项前十大股东和前十大无限售条件 股东持股情况的公告 2025 年 11 月 29 日 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 苏州纳芯微电子股份有限公司（以下简称"公司"）于 2025 年 11 月 24 日召开 第三届董事会第二十二次会议，审议通过了《关于以集中竞价交易方式回购公司 股份方案的议案》，具体情况详见公司于 2025 年 11 月 25 日披露于上海证券交易 所网站（www.sse.com.cn）的《关于以集中竞价交易方式回购公司股份的回购报告 书》（公告编号：2025-055）和《第三届董事会第二十二次会议决议公告》（公告 编号：2025-054）。 根据《上海证券交易所上市公司自律监管指引第 7 号——回购股份》等相关 规定，现将公司披露第三届董事会第二十二次会议决议公告前一个交易日（即 2025 年 11 月 24 日）登记在册的前十大股东和前十大无限售条件股东的名称、持 股数量和持股 ...

Core Viewpoint - Naxin Microelectronics has shown a significant increase in stock price and trading activity, indicating potential investor interest and market confidence in the company's growth prospects [1][2]. Company Overview - Naxin Microelectronics, established on May 17, 2013, and listed on April 22, 2022, focuses on the research and sales of high-performance, high-reliability analog integrated circuits [2]. - The company's revenue composition includes signal chain products (38.45%), power management products (34.09%), sensor products (27.11%), and other products (0.35%) [2]. - Naxin Microelectronics operates within the semiconductor industry, specifically in analog chip design, and is involved in various sectors such as smart speakers, sensors, automotive chips, humanoid robots, and smart wearables [2]. Financial Performance - For the period from January to September 2025, Naxin Microelectronics reported a revenue of 2.366 billion yuan, representing a year-on-year growth of 73.18%, while the net profit attributable to shareholders was -140 million yuan, reflecting a year-on-year increase of 65.54% [2]. - The company has distributed a total of 162 million yuan in dividends since its A-share listing, with 80.85 million yuan distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders increased by 39.73% to 11,200, with an average of 12,708 circulating shares per person, a decrease of 28.44% [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the fourth largest with 6.0758 million shares, while other notable shareholders include Xingquan Helun Mixed A and Jiashi Shanghai Stock Exchange Science and Technology Innovation Board Chip ETF [3].

Core Viewpoint - Naxin Micro (02676.HK) has officially launched its global offering in Hong Kong, aiming to raise approximately HKD 2.096 billion through the issuance of 19.0684 million shares at a maximum price of HKD 116 per share [2] Group 1: Offering Details - The global offering consists of 17.1615 million shares for international placement and 1.9069 million shares for public offering in Hong Kong [2] - The public offering period is from November 28 to December 3, with the final offer price and allocation results expected to be announced on December 5 [2] - Trading on the Hong Kong Stock Exchange is set to commence on December 8, with the stock code 2676 and an entry fee of approximately HKD 11,716.99 [2] Group 2: Use of Proceeds - Approximately 18% of the raised funds will be allocated to enhancing the company's underlying technology capabilities and process platforms [2] - About 22% will be used to further enrich the product portfolio [2] - Approximately 25% will be dedicated to expanding the overseas sales network and product promotion, with another 25% earmarked for strategic investments or acquisitions [2] Group 3: Investor Participation - The offering has attracted seven cornerstone investors, including Yuanhe Naxin, BYD's Golden Link, and Xiaomi's Green Better, committing to subscribe for shares totaling approximately HKD 1.089 billion [3] Group 4: Company Background - Naxin Micro operates under a fabless model, focusing on chip research and design while outsourcing wafer manufacturing and most packaging testing to third-party suppliers [3] - The company offers a wide range of products, including sensor products, signal chain chips, and power management chips, with over 3,600 product models [3] - In the Chinese analog chip market, Naxin Micro ranks 14th with a market share of 0.9% and is the leading company in the automotive analog chip revenue sector for 2024 [3] Group 5: Financial Performance - Naxin Micro has experienced fluctuating revenue since 2022, with continuous losses starting in 2023 [4] - Revenue figures for 2022 to the first half of 2025 are projected at RMB 1.67 billion, RMB 1.311 billion, RMB 1.96 billion, and RMB 1.524 billion, respectively [4] - Gross margins have declined from 48.5% in 2022 to 28% in 2024, with net profits showing a downward trend, resulting in losses of RMB 3.05 billion in 2023 and RMB 780.1 million in the first half of 2025 [4] Group 6: Reasons for Losses - The company attributes its ongoing losses to intensified market competition, increased pricing pressure leading to lower gross margins, higher R&D and operational expenditures, and the impact of a restricted stock incentive plan following its A-share listing [5]

Group 1 - The company, Naxin Microelectronics (02676.HK), plans to globally offer 19.0684 million shares, with 1.9069 million shares available in Hong Kong and 17.1615 million shares for international sale, along with an over-allotment option of 2.8602 million shares [1] - The subscription period for the offering is from November 28 to December 3, with a maximum offer price of HKD 116.00 per share, and an entry fee of approximately HKD 11,716.99 for a board lot of 100 shares [1] - The total expected fundraising amount is HKD 2.212 billion, with a net amount of HKD 2.096 billion, intended for strategic investments and/or acquisitions, expanding overseas sales networks, enhancing product offerings in automotive electronics, improving technical capabilities, and general corporate purposes [1] Group 2 - The company has introduced cornerstone investors including Hong Kong Good Easy International Limited and others, who will subscribe to approximately 9.3882 million shares at the offer price [2] - Naxin Microelectronics is expected to be listed on the main board on December 8, 2025, with China International Capital Corporation Hong Kong Securities Limited, CITIC Securities (Hong Kong) Limited, and Jianyin International Financial Limited acting as joint sponsors [2] - The company's main business includes the sale of semiconductor components, integrated circuits, sensors, and the development and consulting of related technologies and software [2] Group 3 - The company's net profits for the fiscal years 2023, 2024, and the first three quarters of 2025 (ending September 30) are projected to be -CNY 305 million, -CNY 403 million, and -CNY 140 million, reflecting year-on-year changes of -221.85%, -31.95%, and 65.54% respectively [3]

Group 1 - The company plans to globally offer 19.0684 million shares, with 1.9069 million shares available in Hong Kong and 17.1615 million shares for international sale, along with an over-allotment option of 2.8602 million shares [1] - The subscription period for the shares is from November 28 to December 3, with a maximum offer price of HKD 116.00 per share and an entry fee of approximately HKD 11,716.99 [1] - The total expected fundraising amount is HKD 2.212 billion, with a net amount of HKD 2.096 billion, which will be used for strategic investments, expanding overseas sales networks, enhancing product offerings, improving technical capabilities, and general corporate purposes [1] Group 2 - The company has introduced cornerstone investors including Hong Kong Good Easy International Limited and others, who will subscribe to approximately 9.3882 million shares at the offer price [2] - The company is expected to be listed on the main board on December 8, 2025, with China International Capital Corporation Hong Kong Securities Limited, CITIC Securities (Hong Kong) Limited, and Jianyin International Financial Limited as joint sponsors [2] - The company's main business includes the sale of semiconductor components, integrated circuits, sensors, and the development and consulting of related technologies [2] Group 3 - The company's net profits for the fiscal years 2023, 2024, and the first three quarters of 2025 (ending September 30) are projected to be -CNY 305 million, -CNY 403 million, and -CNY 140 million, reflecting year-on-year changes of -221.85%, -31.95%, and 65.54% respectively [3]

Group 1 - The core point of the article is that Naxin Micro plans to issue 19.06 million H-shares on the Hong Kong Stock Exchange, with a maximum price of HKD 116 per share, marking a significant step in its "A+H" listing process [1][2] - The pricing date is expected to be December 4, and trading is anticipated to begin on December 8 [1] - Naxin Micro has successfully passed the listing hearing on November 18, with CICC, CITIC Securities, and Jianyin International acting as joint sponsors for the issuance [1] Group 2 - Naxin Micro, established in 2013, operates as a fabless provider of analog chips, focusing on the design, development, and sales of high-performance integrated circuit chips [1] - The company's core products include sensor products, signal chain chips, and power management chips, primarily serving the automotive electronics, energy, and consumer electronics sectors [1] - According to Frost & Sullivan, Naxin Micro ranks fifth among Chinese manufacturers in the analog chip market based on revenue projections for 2024 [1] Group 3 - Financial data shows that Naxin Micro's revenues for 2022 to 2025 (first half) are projected to be CNY 1.67 billion, CNY 1.311 billion, CNY 1.96 billion, and CNY 1.524 billion, respectively [2] - The gross margins during the same period are expected to be 48.5%, 33.9%, 28%, and 32.9% [2] - The company reported a net profit of CNY 250 million in 2022, but losses of CNY 305 million, CNY 403 million, and CNY 78.01 million are expected in 2023, 2024, and the first half of 2025, respectively [2] Group 4 - Naxin Micro announced a share buyback plan on November 24, intending to repurchase shares with a total fund of no less than CNY 200 million and no more than CNY 400 million, with a maximum buyback price of CNY 200 per share [2] - The funds raised from the Hong Kong IPO will primarily be used to enhance the company's underlying technology capabilities, expand product offerings, and develop overseas sales networks, as well as for strategic investments or acquisitions [2]