证券代码：688052 证券简称：纳芯微 公告编号：2025-038 苏州纳芯微电子股份有限公司 关于发行境外上市外资股（H股） 获得中国证监会备案的公告 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"）正在进行申请发行境外上 市外资股（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"）的相关工作。公司于近日收到中国证券监督管理委 员会（以下简称"中国证监会"）出具的《关于苏州纳芯微电子股份有限公司境外 发行上市备案通知书》（国合函〔2025〕1817 号）（以下简称"备案通知书"）。备 案通知书主要内容如下： 一、公司拟发行不超过 40,976,900 股境外上市普通股并在香港联合交易所上 市。 三、公司完成境外发行上市后 15 个工作日内，应通过中国证监会备案管理信 息系统报告发行上市情况。公司在境外发行上市过程中应严格遵守境内外有关法 律、法规和规则。 四、公司自备案通知书出具之日起 12 个月内未完成境外发行上市，拟继续推 进的， ...

Core Viewpoint - The company, Naxin Microelectronics (688052.SH), is in the process of applying for the issuance of overseas listed foreign shares (H-shares) and plans to list on the main board of the Hong Kong Stock Exchange [1] Summary by Sections Issuance Plan - The company intends to issue no more than 40,976,900 overseas listed ordinary shares for listing on the Hong Kong Stock Exchange [1] Regulatory Compliance - The company has received a notice from the China Securities Regulatory Commission (CSRC) regarding the filing for overseas issuance and listing [1] - The company must report any significant events to the CSRC through the filing management information system from the date of the notice until the completion of the overseas issuance and listing [1] - Within 15 working days after the completion of the overseas issuance and listing, the company is required to report the issuance and listing status to the CSRC [1] - The company is obligated to strictly comply with relevant laws, regulations, and rules during the overseas issuance and listing process [1]

Core Viewpoint - Naxin Microelectronics has received a notification from the China Securities Regulatory Commission regarding its overseas issuance and listing [1] Group 1 - The company has recently announced the receipt of a notification from the China Securities Regulatory Commission [1]

纳芯微：发行境外上市外资股（H股）获得中国证监会备案。 ...

Core Viewpoint - Naxin Micro (688052.SH) is making significant progress in the humanoid robot sector, having established partnerships with leading industry clients for its core sensor and control chip products [1][2]. Company Overview - Naxin Micro's high-performance analog chips and sensor products are widely used in smart vehicles, industrial control, robotics, and consumer electronics [2]. - The company has achieved application validation of its chips in motion control, torque detection, and position sensing as the humanoid robot industry accelerates its development [2]. Product Development - Naxin Micro has a comprehensive product layout in servo systems, drive control, and sensor detection, covering key technologies such as current detection, angle sensing, pressure detection, and high-precision ADC [2]. - These products provide essential support for precise perception and dynamic control in humanoid robots [2]. Industry Insights - Industry experts believe that the humanoid robot sector has entered a phase of commercial initiation, with accelerated domestic substitution of core components [2]. - Naxin Micro, leveraging its technological accumulation in sensor and signal chain chips, is expected to become a significant supplier in the domestic humanoid robot industry chain [2]. Future Plans - The company plans to continue advancing the iteration of humanoid robot-related chip products and increase R&D investment in smart manufacturing, robot control, and AI perception to enhance product competitiveness [2]. - Naxin Micro aims to actively expand diversified customer collaborations to facilitate the rapid deployment of domestic high-end sensing and control chips in emerging intelligent equipment sectors [2].

Core Insights - The semiconductor industry is witnessing a significant trend of companies, particularly in the analog chip sector, moving towards the Hong Kong stock market, driven by strategic choices in response to market challenges and the need for global expansion [1][9] - The analog chip market is experiencing a recovery with a 4% growth in the first half of the year, driven by sectors like automotive electronics and AI computing, despite intense competition from international players [2][6] Market Dynamics - The cyclical nature of the analog chip industry and the evolving global competitive landscape are key factors influencing companies to list in Hong Kong [2] - The top 10 domestic analog chip manufacturers are projected to hold a 38.1% market share in 2024, with international firms capturing 33% of the market, indicating a highly concentrated competitive environment [2] Strategic Moves - The Hong Kong stock market has become attractive for companies due to its flexible refinancing mechanisms and recent regulatory changes that facilitate listings for A-share companies [3] - Companies like Naxin Micro, Jiewater, and Shengbang have submitted their IPO applications to the Hong Kong Stock Exchange, aiming to leverage international capital for further growth [3][4] Company Strategies - Shengbang focuses on a comprehensive product matrix covering 34 categories and over 5,900 products, achieving a revenue of 18.19 billion yuan in the first half of 2025, a 15.37% increase year-on-year [4][6] - Naxin Micro emphasizes sensor, signal chain, and power management products, with a significant presence in the automotive sector, leading to a revenue increase from 19.61 billion yuan in 2024, a 49.56% year-on-year growth [5][7] - Jiewater adopts a one-stop product line strategy, achieving a revenue of 16.46 billion yuan in 2024, a 28.84% increase year-on-year [5] Financial Performance - The leading companies in the analog chip sector exhibit high growth but face profitability challenges, with Shengbang reporting a net profit of 5 billion yuan in 2024, a 78.17% increase [6][7] - Naxin Micro's revenue growth is notable, but it reported a net loss of 4.03 billion yuan in 2024, indicating the growing pains of the industry [7] - Jiewater also faced a net loss of 6.03 billion yuan in 2024, highlighting the pressures of market competition and rising costs [7] Future Outlook - The power management market is expected to grow significantly, reaching 223.4 billion yuan by 2029, driven by demand from AI infrastructure and electric vehicles [8] - Companies listing in Hong Kong can access funds to support long-term R&D and market expansion, which is crucial for navigating the industry's challenges [8] Conclusion - The trend of companies like Shengbang, Naxin Micro, and Jiewater listing in Hong Kong reflects a shift in China's semiconductor industry towards global competition [9] - The ability to convert capital advantages into technological strengths and expand into international markets will be critical for these companies moving forward [9]

Core Viewpoint - Naxin Microelectronics experienced a decline of 5.01% on October 17, with a stock price of 186.47 CNY per share and a total market capitalization of 26.577 billion CNY [1] Company Overview - Naxin Microelectronics, established on May 17, 2013, is located in Suzhou Industrial Park, Jiangsu Province, and specializes in the research and sales of high-performance, high-reliability analog integrated circuits [1] - The company's revenue composition includes: Signal chain products (38.45%), Power management products (34.09%), Sensor products (27.11%), and Others (0.35%) [1] Fund Holdings - Zhongyin Securities has a fund that heavily invests in Naxin Microelectronics, specifically the Zhongyin Securities JuRui Mixed A Fund (004913), which held 600 shares in the second quarter, accounting for 0.84% of the fund's net value [2] - The estimated floating loss for the fund today is approximately 5,898 CNY [2] Fund Manager Information - The fund manager of Zhongyin Securities JuRui Mixed A Fund is Lv Wenyue, who has been in the position for 9 years and 248 days [3] - The total asset size of the fund is 11.686 billion CNY, with the best fund return during the manager's tenure being 33.32% and the worst being -5.42% [3]

Company Overview - Naxin Microelectronics Co., Ltd. is located in Suzhou Industrial Park, Jiangsu Province, and was established on May 17, 2013. The company went public on April 22, 2022. Its main business focuses on the research and sales of high-performance, high-reliability analog integrated circuits [1]. Business Segmentation - The revenue composition of Naxin Microelectronics is as follows: Signal chain products account for 38.45%, power management products for 34.09%, sensor products for 27.11%, and other products for 0.35% [1]. Stock Performance - On October 17, Naxin Micro's stock fell by 5.01%, closing at 186.47 CNY per share, with a trading volume of 338 million CNY and a turnover rate of 1.24%. The total market capitalization is 26.577 billion CNY [1]. Fund Holdings - According to data from the top ten holdings of funds, one fund under Chuangjin Hexin holds Naxin Micro. The Chuangjin Hexin Digital Economy Theme Stock A (011229) held 64,500 shares in the second quarter, accounting for 2.85% of the fund's net value, ranking as the tenth largest holding. The estimated floating loss today is approximately 634,100 CNY [2]. Fund Performance - The Chuangjin Hexin Digital Economy Theme Stock A (011229) was established on January 20, 2021, with a current scale of 234 million CNY. Year-to-date, it has achieved a return of 33.57%, ranking 1366 out of 4218 in its category. Over the past year, it has returned 39.02%, ranking 1349 out of 3865, and since inception, it has returned 79.91% [2]. Fund Management - The fund manager of Chuangjin Hexin Digital Economy Theme Stock A (011229) is Wang Xin, who has been in the position for 4 years and 292 days. The total asset size of the fund is 454 million CNY, with the best return during his tenure being 24.1% and the worst being -16.16% [3].

Core Viewpoint - Naxin Micro's stock has experienced fluctuations, with a recent decline of 2.01%, while the company has shown significant growth in revenue and profit year-to-date [1][2]. Group 1: Stock Performance - As of October 14, Naxin Micro's stock price is 198.25 CNY per share, with a market capitalization of 28.256 billion CNY [1]. - The stock has increased by 52.15% year-to-date, with a 1.51% rise over the last five trading days, 12.65% over the last 20 days, and 23.50% over the last 60 days [1]. - The company has appeared on the trading leaderboard twice this year, with the most recent instance on April 11, where it recorded a net buy of -80.32 million CNY [1]. Group 2: Company Overview - Naxin Micro, established on May 17, 2013, and listed on April 22, 2022, focuses on high-performance and high-reliability analog integrated circuit research and sales [2]. - The company's revenue composition includes signal chain products (38.45%), power management products (34.09%), sensor products (27.11%), and others (0.35%) [2]. - Naxin Micro operates within the semiconductor industry, specifically in analog chip design, and is associated with concepts such as integrated circuits and sensors [2]. Group 3: Financial Performance - For the first half of 2025, Naxin Micro achieved a revenue of 1.524 billion CNY, reflecting a year-on-year growth of 79.49%, while the net profit attributable to shareholders was -78.01 million CNY, a 70.59% increase year-on-year [2]. - Since its A-share listing, Naxin Micro has distributed a total of 162 million CNY in dividends, with 80.85 million CNY distributed over the past three years [3]. Group 4: Shareholder Information - As of June 30, 2025, Naxin Micro had 8,026 shareholders, an increase of 5.25%, with an average of 17,758 circulating shares per shareholder, up by 45.09% [2]. - The top ten circulating shareholders include various mutual funds, with notable changes in holdings among them [3].

Core Insights - Naxin Microelectronics experienced a stock increase of 3.88% on October 13, with a trading volume of 747 million yuan [1] - The company reported a financing buy-in of 66.03 million yuan and a financing repayment of 78.25 million yuan on the same day, resulting in a net financing outflow of 12.22 million yuan [1] - As of October 13, the total margin balance for Naxin Microelectronics was 830 million yuan, with a financing balance of 818 million yuan, accounting for 2.84% of the circulating market value, indicating a high level compared to the past year [1] Financing and Margin Data - On October 13, Naxin Microelectronics had a margin buy-in of 66.03 million yuan, with a current financing balance of 818 million yuan, which is above the 90th percentile of the past year [1] - The company repaid 2,213 shares in margin trading and sold 200 shares, with a selling amount of 40,500 yuan calculated at the closing price [1] - The margin balance was 11.59 million yuan, also exceeding the 90th percentile of the past year [1] Company Overview - Naxin Microelectronics, established on May 17, 2013, and listed on April 22, 2022, is located in Suzhou Industrial Park, Jiangsu Province [1] - The company focuses on the research and sales of high-performance, high-reliability analog integrated circuits [1] - The revenue composition includes signal chain products (38.45%), power management products (34.09%), sensor products (27.11%), and others (0.35%) [1] Financial Performance - As of June 30, the number of shareholders for Naxin Microelectronics was 8,026, an increase of 5.25% from the previous period [2] - The average circulating shares per person increased by 45.09% to 17,758 shares [2] - For the first half of 2025, the company achieved a revenue of 1.524 billion yuan, a year-on-year increase of 79.49%, while the net profit attributable to shareholders was -78.01 million yuan, reflecting a 70.59% increase year-on-year [2] Dividend and Institutional Holdings - Naxin Microelectronics 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 [2] - As of June 30, 2025, the top ten circulating shareholders included notable funds, with changes in holdings observed among several institutional investors [2]