纳芯微公告，2025年第一季度营收为7.17亿元，同比增长97.82%；净亏损5133.83万元，去年同期净亏 损1.5亿元。 ...

谈及本次展出的亮点，高峰首先强调了围绕"核心应用场景"的产品布局思路。在智能座舱方面，纳 芯微推出了Class D音频功放芯片NSDA6934-Q1，以低延迟、高采样率和适配复杂车载环境的特 性，满足75瓦、150瓦不同功率级别的需求。此外，基于全国产供应链、采用HSMT公有协议的高 速SerDes接口产品也亮相现场，为ADAS及智能座舱系统中的高速数据传输场景提供关键基础支 撑。 值得一提的是，纳芯微在智能电机控制领域的突破——NovoGenius®系列产品——NSUC1610、 NSUC1602和NSUC1500，单芯片集成丰富接口与专有算法，能够精准控制直流有刷、无刷以及步 进电机，全面支撑HUD抬头显示、大屏旋转等新一代座舱体验。 这一产品线并非一朝一夕之功，高峰表示，纳芯微早在2023年就已悄然发力座舱领域，从最初单 一的驱动器件扩展到如今的系统级方案，技术上的不断演进正是国产芯片厂商在智能化趋势下的缩 影。 如果您希望可以时常见面，欢迎标星收藏哦~ 除了座舱系统，高峰还为我们特别介绍了在新能源汽车三电系统上的一站式布局——涵盖隔离电 源、电源管理、采样接口、马达驱动及传感器产品族，并且首次带来了实 ...

Core Insights - Naxin Micro (688052) has launched a series of automotive-grade SerDes chipsets based on a fully domestic supply chain and utilizing the HSMT public protocol [1] - The product line includes a single-channel serializer chip NLS9116 and a four-channel deserializer chip NLS9246, designed for high-speed data transmission in ADAS (cameras, domain controllers) and intelligent cockpit (cameras, displays, domain controllers) systems [1] - The current value of SerDes chips per vehicle is approximately several tens of dollars, with potential for increase as the number of cameras and displays in vehicles rises [1]

Core Viewpoint - The domestic analog chip market in China is experiencing a significant push for self-sufficiency, with companies like Naxin Micro (688052.SH) preparing for domestic alternatives as the localization rate remains low across various sectors, particularly in the automotive industry, which stands at only about 5% [1] Group 1: Company Overview - Naxin Micro focuses on three main areas: sensors, signal chains, and power management, and is the only major player in China's top ten analog chip manufacturers to emphasize these directions [1] - In 2024, Naxin Micro achieved a record revenue of 1.96 billion RMB, marking a nearly 50% increase from the previous year, driven by improvements in downstream demand [2][3] - The company's revenue sources for 2024 include automotive electronics (719 million RMB), general energy (976 million RMB), and consumer electronics (266 million RMB), with respective year-on-year increases of 77.9%, 26.5%, and 95.8% [2] Group 2: Financial Performance - Naxin Micro's revenue growth is contrasted by declining profit margins, with gross profits of 810 million RMB in 2022, 444 million RMB in 2023, and 549 million RMB in 2024, leading to gross margins of 48.5%, 33.9%, and 28% respectively [4][5] - The gross margins for sensor products and signal chain chips have decreased significantly, with sensor margins dropping to 43.8% and signal chain margins to 37.6% by 2024 [5][6] - Despite revenue growth, Naxin Micro reported net losses of 250 million RMB in 2022, 305 million RMB in 2023, and 403 million RMB in 2024, although there was a slight profit recovery in Q4 2024 [6] Group 3: Market Potential - The analog chip industry has high technical barriers, particularly in automotive and general energy sectors, which are expected to see significant growth due to low domestic self-sufficiency rates [8] - The automotive electronics analog chip market is projected to grow from 37.1 billion RMB in 2024 to 85.8 billion RMB by 2029, with localization rates expected to increase from 5% to 20% during the same period [9] - Naxin Micro's early entry into the automotive electronics market positions it well to benefit from the anticipated growth, having already provided over 700 automotive electronic product models [8][9] Group 4: Strategic Outlook - Naxin Micro's focus on high-barrier markets with significant domestic replacement potential is a key reason for investor interest, although this requires substantial funding support for continued development [9][10] - The company’s recent move to seek additional funding through the Hong Kong market indicates a strategy to bolster its financial position amid intense competition in the analog chip sector [10]

经观汽车 4月25日，苏州纳芯微电子股份有限公司（以下简称"纳芯微"，688052.SH）正式向港交所递交上市申 请，计划通过发行H股募资推进国际化战略。 若成功上市，纳芯微将成为苏州首家"A+H"双平台运作的半导体企业，其A股最新市值达270.9亿元（截 至4月28日收盘）。此举标志着中国模拟芯片企业从技术追赶向资本全球化迈进的关键一步。 纳芯微身为模拟芯片厂商，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，覆盖汽车电子、泛能源及消费电子领域。 2022年至2024年，纳芯微营收分别为16.7亿元、13.1亿元、19.6亿元，呈波动增长态势，但净利润连续 两年亏损，累计亏损约7亿元（2023年-3.05亿元，2024年-4.03亿元）。 亏损主因包括市场竞争加剧导致产品价格大幅下滑（传感器均价降幅达64%）、研发投入高企（2024年 研发支出5.4亿元，占营收27.5%）及股权激励费用增加。 | 主要会计数据 | 2024年 | 2023年 | 本期比上年 同期增减(%) | 2022年 | | --- | --- | --- | --- | --- | | 营业收入 | 196 ...

根据招股书披露，纳芯微2024年实现营收19.60亿元，同比增长49.53%，但净利润亏损4.03亿元，较上 年同期亏损扩大31.95%。这一矛盾数据背后，是公司业务端的盈利能力承压：2024年公司综合毛利率 同比下降近6个百分点至32.70%，较早年50%以上的毛利率水平更是拉开约20个百分点的差距。此外， 近年的持续并购扩张也抬升了公司费用，2024年公司除去财务费用的费用率高达51.54%，极大挤出了 利润空间。 登录新浪财经APP 搜索【信披】查看更多考评等级 在国产替代与全球竞争的双重逻辑下，纳芯微的A+H布局标志着中国半导体企业从"技术追赶"向"资本 出海"的跨越。随着港交所特专科技上市通道的打开，更多硬科技企业或将复制这一路径，在全球化竞 争中构建资本、技术、市场的三重护城河。 国内模拟芯片龙头纳芯微电子（688052.SH）于2025年4月25日正式向港交所递交上市申请，计划通过 发行H股募集资金以推进国际化战略。若成功登陆港交所，这家总市值近300亿元的科创板企业将成为 苏州首家"A+H"双平台上市公司，进一步夯实中国半导体产业在全球资本市场的布局。 注：本文结合AI生成，文中观点不构成投资 ...

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]