Core Viewpoint - Three A-share companies, including Naxin Micro (688052.SH), Guanghetong (300638.SZ), and Three Squirrels (300783.SZ), submitted their prospectuses to the Hong Kong Stock Exchange on April 25, marking a significant move in the A-share market [1][2]. Group 1: Company Overview - Naxin Micro is the fourth semiconductor company from A-share to apply for a listing on the Hong Kong Stock Exchange in 2023, focusing on analog chips, particularly sensor products, signal chain chips, and power management chips [3][10]. - The company was founded in May 2013 and went public on the Shanghai Stock Exchange in April 2022, with its major shareholders controlling 34.54% of the voting rights [10][11]. Group 2: Financial Performance - Naxin Micro's revenue for 2022, 2023, and 2024 was reported at 1.67 billion, 1.31 billion, and 1.96 billion RMB respectively, indicating a significant drop in 2023 due to reduced demand in the energy sector [20][22]. - The company faced net losses of approximately 3.05 billion RMB in 2023 and 4.03 billion RMB in 2024, following a profit of 250 million RMB in 2022 [21][22]. Group 3: Product and Market Dynamics - The average selling prices of key products have significantly decreased, with sensor products dropping from 2.63 RMB per unit in 2023 to 0.94 RMB in 2024, a decline of 64% [23][25]. - Naxin Micro's product revenue structure shows an increase in the revenue share from sensor products from 6.7% in 2022 to 14% in 2024, while the share from signal chain chips decreased from 62.6% to 49.1% [13][22]. Group 4: Market Position and Future Outlook - Naxin Micro ranks 14th in the Chinese analog chip market and is the second among fabless companies in the automotive analog chip segment [38][41]. - The company plans to use the funds raised from the H-share listing to enhance business growth, diversify funding channels, and strengthen its market position [38].

4月27日晚间，纳芯微(688052)公告称，公司已于4月25日向香港联交所递交了在境外发行股份(H股)并 在香港联交所主板上市的申请，并于同日在香港联交所网站刊登了本次发行的申请资料。 据披露，纳芯微是一家高性能高可靠性模拟及混合信号芯片公司，公司专注于围绕下游应用场景组织产 品开发，聚焦传感器、信号链和电源管理三大产品方向，提供丰富的半导体产品及解决方案，并被广泛 应用于汽车、泛能源及消费电子领域。目前已能提供3300余款可供销售的产品型号，其中麦歌恩可供销 售的产品型号为1000余款。公司已于2021年4月在上交所科创板上市，截至目前，市值约为264亿元。 财报显示，2022年、2023年、2024年纳芯微的营收分别为16.70亿元、13.11亿元、19.60亿元，净利润分 别为2.51亿元、-3.05亿元、-4.03亿元，研发开支分别为4.04亿元、5.22亿元、5.40亿元。2023年和2024 年公司出现亏损，主要因加大研发及市场拓展投资、调整产品价格、于A股上市后实施限制性股票激励 计划的相关付款等。 对此，纳芯微表示，未来公司计划通过实施实现收入持续增长、优化毛利结构及提升经营效率的业务举 措 ...

苏州纳芯微电子股份有限公司 证券代码：688052 证券简称：纳芯微 公告编号：2025-023 英文： https://www1.hkexnews.hk/app/sehk/2025/107309/documents/sehk25042502834. pdf 需要特别予以说明的是，本公告仅为境内投资者及时了解本次发行 H 股及 上市的相关信息而作出。本公告以及刊登于香港联交所网站的申请资料不构成也 不得视作对任何个人或实体收购、购买或认购公司本次发行的 H 股的要约或要 约邀请。 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 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"）已于 2025 年 4 月 25 日 向香港联合交易所有限公司（以下简称"香港联交所"）递交了在境外发行股份 （H 股）并在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。该 申请资料为公司按照香港证券 ...

Summary of Key Points Core Viewpoint - The article provides an overview of the recent IPO activities in the Hong Kong stock market, highlighting the companies that have submitted applications, passed hearings, and are in the process of going public. Group 1: Companies Submitting Applications - Demy Pharmaceutical Co., Ltd. submitted an application to the Hong Kong Stock Exchange, focusing on skin health with projected revenues of approximately RMB 3.84 billion, RMB 4.73 billion, and RMB 6.18 billion for 2022, 2023, and 2024 respectively, while incurring losses of RMB 55.17 million, RMB 4.70 million, and RMB 106 million [4] - Zhongwei New Materials Co., Ltd. submitted its prospectus, specializing in new energy battery materials with revenues projected at RMB 30.34 billion, RMB 34.27 billion, and RMB 40.22 billion for 2022, 2023, and 2024 respectively, and net profits of RMB 1.54 billion, RMB 2.10 billion, and RMB 1.79 billion [4] - Hehui Optoelectronics submitted an application, ranking second globally in AMOLED semiconductor display panel manufacturing, with revenues of approximately RMB 4.19 billion, RMB 3.04 billion, and RMB 4.96 billion for 2022, 2023, and 2024, and losses of RMB 1.60 billion, RMB 3.24 billion, and RMB 2.52 billion [5] - Suzhou Rebo Biotechnology Co., Ltd. submitted its listing application, currently having six self-developed siRNA drugs in clinical trials, with projected net losses of RMB 437 million and RMB 282 million for 2023 and 2024 [6] - Naxin Microelectronics submitted an application, ranking fifth in China's analog chip market, with revenues of RMB 1.67 billion, RMB 1.31 billion, and RMB 1.96 billion for 2022, 2023, and 2024, and profits of RMB 250 million, losses of RMB 305 million, and losses of RMB 403 million [7] - Guanghetong Wireless Co., Ltd. submitted its prospectus, being the second-largest wireless communication module provider globally, with revenues of RMB 5.20 billion, RMB 5.65 billion, and RMB 6.97 billion for 2022, 2023, and 2024, and net profits of RMB 365 million, RMB 565 million, and RMB 677 million [8] - Hongxing Cold Chain (Hunan) Co., Ltd. submitted its application, ranking second in frozen food trading services in Central China, with revenues of RMB 237 million, RMB 202 million, and RMB 234 million for 2022, 2023, and 2024, and net profits of RMB 79 million, RMB 75 million, and RMB 83 million [9] - Three Squirrels submitted a listing application, being the largest online nut snack enterprise in China, with revenues of RMB 7.29 billion, RMB 7.12 billion, and RMB 10.62 billion for 2022, 2023, and 2024, and net profits of RMB 129 million, RMB 220 million, and RMB 408 million [10] Group 2: Companies Passing Hearings - Junda Co., Ltd. passed the hearing, being a leading photovoltaic cell manufacturer with projected revenues of RMB 11.09 billion, RMB 18.61 billion, and RMB 9.92 billion for 2022, 2023, and 2024, and net profits of RMB 821 million, RMB 816 million, and losses of RMB 591 million [11] - Green Tea Group Limited passed the hearing, ranking third in the number of restaurants and fourth in revenue among casual Chinese restaurant brands in mainland China, with revenues of RMB 2.38 billion, RMB 3.59 billion, and RMB 3.84 billion for 2022, 2023, and 2024, and profits of RMB 17 million, RMB 296 million, and RMB 350 million [12] - Shanghai Auntie passed the hearing, being the fourth largest fresh tea drink network in China, with revenues of RMB 2.20 billion, RMB 3.35 billion, and RMB 3.29 billion for 2022, 2023, and 2024, and net profits of RMB 149 million, RMB 388 million, and RMB 329 million [13]

Core Viewpoint - Suzhou Naxin Microelectronics Co., Ltd. has submitted an application to list on the Hong Kong Stock Exchange, with CICC, CITIC Securities, and Jianyin International as joint sponsors [1] Company Overview - Naxin Micro is a leading provider of analog chips in China, focusing on automotive electronics, energy, and consumer electronics, offering high-performance and reliable products and solutions [4] - The company's product categories include sensors, signal chain chips, and power management chips, forming a complete system link from perception to signal processing and power supply [4] Market Position - According to Frost & Sullivan, Naxin Micro ranks fifth among Chinese manufacturers in the analog chip market based on revenue for 2024 [5] - It is the only company among the top ten Chinese analog chip manufacturers to focus on sensors, signal chain chips, and power management chips [5] - In the automotive analog chip market, Naxin Micro ranks first among Chinese manufacturers and second among all fabless manufacturers for 2024 [5] - The company holds the first position in the digital isolator chip market among Chinese manufacturers, with a market share of 15.6% [5] - Naxin Micro also leads the magnetic sensor market among Chinese manufacturers, with a market share of 7.1% [5] Financial Performance - Revenue for Naxin Micro was approximately RMB 1.67 billion in 2022, RMB 1.31 billion in 2023, and is projected to be RMB 1.96 billion in 2024 [6] - The company reported a profit of approximately RMB 250 million in 2022, a loss of RMB 305 million in 2023, and is expected to incur a loss of RMB 403 million in 2024 [6] - The gross profit margin decreased from 48.5% in 2022 to 28.0% in 2024, indicating increasing cost pressures [7]

智通财经4月25日电，利弗莫尔证券显示，纳芯微向港交所提交上市申请书，联席保荐人为中金公司、 中信证券、建银国际。 ...

利弗莫尔证券显示，苏州 纳芯微电子股份有限公司向港交所提交上市申请书，联席保荐人为 中金公 司、 中信证券、建银国际。 ...

Group 1 - Suzhou Naxin Microelectronics Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange [1]

Group 1 - The core viewpoint of the article highlights the advancements and recognition of domestic automotive chip manufacturers, particularly Suzhou Naxin Microelectronics Co., Ltd., in the context of the 2025 Shanghai International Auto Show [1][2] - Naxin Micro's embedded motor drive SoC, NSUC1610, won the 2025 Influential Automotive Chip Award, marking it as the first high-integration small motor drive SoC in China, filling a technological gap in the automotive thermal management chip sector [1] - Naxin Micro was established in 2013 and went public on the Shanghai Stock Exchange's Sci-Tech Innovation Board in April 2022, reporting nearly 2 billion yuan in revenue for 2024 and a cumulative shipment of 668 million automotive chips by the same year [1] Group 2 - The domestic automotive chip industry has made significant strides in technological innovation and market expansion, transitioning from a "follower" to a "runner" position in the global automotive industry [2] - Naxin Micro has established deep collaborations with nearly 400 component suppliers in the new energy vehicle sector, providing comprehensive chip solutions for key systems such as motor drives, on-board chargers, and battery management systems [2]

A股半导体板块走低，思瑞浦跌超13%，纳芯微跌超11%，圣邦股份得超9%。 ...