Group 1 - The core point of the article is that Longxun Co., Ltd. (688486.SH) has submitted an application for listing on the Hong Kong Stock Exchange, with CITIC Securities International as the sole sponsor [1] - Longxun Co., Ltd. is a leading high-speed mixed-signal chip design company, ranked first in the video bridge chip market in mainland China and among the top five globally according to 2024 revenue [3] - The company aims to provide services for smart terminals, devices, and AI applications, focusing on building an efficient and reliable "data highway" [3] Group 2 - Longxun Co., Ltd. is currently listed on the A-share Sci-Tech Innovation Board, having raised 1.03 billion RMB during its IPO in February 2023 [4] - The company's projected revenues for 2022, 2023, and 2024 are 241 million RMB, 323 million RMB, and 466 million RMB respectively, with smart video chips accounting for over 80% of revenue [4] - The revenue growth rates from 2022 to 2024 are 2.6%, 34.1%, and 44.2%, with a 16.7% growth rate reported for the first three quarters of 2025 [7][8] Group 3 - The gross profit margins for the years 2022 to 2025 are 58.8%, 53.6%, 54.3%, and 54.5% respectively [7] - Net profits for the years 2022, 2023, and 2024 are reported as 690 million RMB, 1.027 billion RMB, and 1.444 billion RMB, with 125 million RMB for the first three quarters of 2025 [9] - The company faces risks related to high customer concentration, with the top five customers accounting for 47.0%, 49.4%, 51.6%, and 53.9% of sales from 2022 to the first three quarters of 2025 [11]

Core Viewpoint - Longxin Co., Ltd. has submitted an application for the public offering of H-shares and listing on the Hong Kong Stock Exchange, aiming to enhance its market presence and capitalize on growth opportunities in the semiconductor industry [2]. Group 1: Company Overview - Longxin Co., Ltd. is a leading designer of high-speed mixed-signal chips, focusing on creating efficient and reliable "data highways" for smart terminals, devices, and AI applications [2]. - The company's core competencies are concentrated in three main areas: high-bandwidth serializers/deserializers (SerDes), high-speed interface protocol processing and data encryption, and high-definition audio/video processing and display driver technology [2]. - Longxin's products enable seamless data transmission and processing, facilitating efficient interaction between computing, storage, and display units, with applications in smart visual terminals, automotive systems, AR/VR devices, and high-performance computing (HPC) [2]. Group 2: Market Position - According to Frost & Sullivan, Longxin ranks first in the video bridge chip market in mainland China and is among the top five fabless design companies globally, with video bridge chips being a crucial component of mixed-signal chips [3]. - The company's deep-rooted technological foundations, developed over nearly two decades, support seamless, high-speed, and stable transmission of high-definition audio and video data across various applications, including robotics, drones, AR/VR devices, and autonomous driving systems [3]. Group 3: Fundraising Purpose - The funds raised from the H-share issuance will be allocated to five key areas: enhancing R&D and innovation capabilities, expanding the product matrix and downstream application scenarios, increasing overseas business networks, pursuing strategic investments and acquisitions in the global semiconductor industry, and serving as working capital for general corporate purposes [4]. - The company aims to maintain high levels of R&D investment to continuously optimize product performance and strengthen its international market share through collaborations with global chip manufacturers and the establishment of a dual-track supply system [4].

Company Overview - Longxin Semiconductor (Hefei) Co., Ltd. is a leading high-speed mixed-signal chip design company focused on building efficient and reliable "data highways" for smart terminals, devices, and AI applications. Its products enable seamless data transmission and processing, with applications in smart visual terminals, automotive, AR/VR devices, and high-performance computing (HPC) [3] - According to Frost & Sullivan, Longxin ranks first in the domestic video bridging chip market and is among the top five fabless design companies globally based on revenue in 2024 [3] Financial Performance - For the fiscal years 2022, 2023, and 2024, Longxin's revenue was approximately RMB 241 million, RMB 323 million, and RMB 466 million, respectively. For the nine months ending September 30, 2024, and 2025, the revenue was RMB 334 million and RMB 389 million, respectively [5] - The company's profit for the same periods was RMB 69.21 million, RMB 103 million, and RMB 144 million, with profits for the nine months ending September 30, 2024, and 2025 being RMB 93.99 million and RMB 124.51 million, respectively [6] Industry Overview - The global market for smart video chips is projected to recover in 2024, with a compound annual growth rate (CAGR) of 7.4%, growing from RMB 1,090 billion in 2025 to RMB 1,450 billion by 2029. This growth is driven by the recovery of the economy and the upgrading of downstream applications such as AR/VR and smart automotive [8] - Video bridging chips and video processing chips are expected to be the fastest-growing segments, with respective CAGRs of 15.5% and 12.1% from 2025 to 2029, driven by increasing demand for high-speed and stable signal bridging in smart visual terminals and automotive applications [9][10] - The global interconnect chip market is anticipated to grow from RMB 1,395 billion in 2025 to RMB 2,904 billion by 2029, with a CAGR of 20.1%, fueled by the increasing demand for data processing and visual display in the AI era [12]

Company Overview - Longxin Semiconductor (Hefei) Co., Ltd. is a leading high-speed mixed-signal chip design company focused on building efficient and reliable "data highways" for smart terminals, devices, and AI applications [3] - The company's products enable seamless data transmission and processing, facilitating efficient interaction between computing, storage, and display units [3] - Longxin ranks first in the domestic video bridging chip market and is among the top five fabless design companies globally based on revenue in 2024 [3] Financial Performance - For the fiscal years 2022, 2023, and 2024, Longxin's revenues were approximately RMB 241 million, RMB 323 million, and RMB 466 million, respectively [5] - The profit figures for the same years were RMB 69.21 million, RMB 102.70 million, and RMB 144.41 million, respectively [6] - For the nine months ending September 30, 2024, and 2025, the revenues were RMB 334 million and RMB 389 million, while profits were RMB 93.99 million and RMB 124.51 million, respectively [5][6] Industry Overview - The global smart video chip market is projected to recover in 2024, with a compound annual growth rate (CAGR) of 7.4%, growing from RMB 1,090 billion in 2025 to RMB 1,450 billion by 2029 [8] - Video bridging chips and video processing chips are expected to be the fastest-growing segments, with respective CAGRs of 15.5% and 12.1% from 2025 to 2029 [9] - The AR/VR and smart automotive sectors are anticipated to be the fastest-growing applications, with the AR/VR market expected to grow from RMB 27 billion in 2025 to RMB 118 billion by 2029, reflecting a CAGR of 44.8% [10] Technology and Product Development - Longxin has expanded into a broader interconnect chip field, focusing on the development of key interconnect components such as PCIe/CXL/USB Retimer and Switch [4] - The company's solutions address the bottlenecks in multimodal data transmission in complex computing environments, meeting the stringent requirements for ultra-low latency and high bandwidth in next-generation AI infrastructure and HPC systems [4] Market Trends - The global interconnect chip market is expected to grow from RMB 1,395 billion in 2025 to RMB 2,904 billion by 2029, with a CAGR of 20.1% [12] - AI computing chips are projected to reach RMB 2,739 billion by 2029, driven by the demand for data interconnects in various high-performance computing applications [14]

Core Viewpoint - Longxin Semiconductor (Hefei) Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, aiming to enhance its position as a leading high-speed mixed-signal chip design company focused on efficient data transmission for smart devices and AI applications [1] Group 1: Company Overview - Longxin Semiconductor specializes in designing high-speed mixed-signal chips, which facilitate seamless data transmission and processing [1] - The company's products enable efficient interaction between computing, storage, and display units, targeting applications in smart visual terminals, automotive, AR/VR devices, and AI with high-performance computing (HPC) [1] Group 2: Market Position - According to Frost & Sullivan, Longxin Semiconductor ranks first in the video bridging chip market in mainland China and is among the top five fabless design companies globally based on projected revenue for 2024 [1]

Group 1 - The core point of the article is that Longxin Semiconductor (Hefei) Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with China Securities International as the sole sponsor [1] - Longxin Semiconductor is a leading designer of high-speed mixed-signal chips, focusing on building efficient and reliable "data highways" for smart terminals, devices, and AI applications [1] - The company's products enable seamless data transmission and processing, facilitating efficient interaction between computing, storage, and display units [1] Group 2 - Longxin Semiconductor's main applications include smart visual terminals, automotive electronics, AR/VR devices, and high-performance computing (HPC) [1] - According to Frost & Sullivan, the company ranks first in the video bridging chip market in mainland China and is among the top five fabless design companies globally based on projected revenue for 2024 [1]

Group 1 - The core viewpoint of the article is that Lontium Semiconductor Corporation has submitted an application for listing on the Hong Kong Stock Exchange, with China Securities International as the sole sponsor [1] - Lontium Semiconductor is a leading designer of high-speed mixed-signal chips, focusing on creating efficient and reliable "data highways" for smart terminals, devices, and AI applications [1] - The company's products enable seamless data transmission and processing, facilitating efficient interaction between computing, storage, and display units [1] Group 2 - Major applications of Lontium's products include smart visual terminals, automotive electronics, AR/VR devices, and high-performance computing (HPC) [1] - According to Frost & Sullivan, Lontium ranks first in the video bridge chip market in mainland China and is among the top five fabless design companies globally based on projected revenue for 2024 [1]

Group 1 - The core viewpoint of the article is that Lontium Semiconductor Corporation (龙迅半导体) has submitted a listing application to the Hong Kong Stock Exchange, with China Securities International as the sole sponsor [1] - Lontium Semiconductor is a leading designer of high-speed mixed-signal chips, focusing on creating efficient and reliable "data highways" for smart terminals, devices, and AI applications [1] - The company's products enable seamless data transmission and processing, facilitating efficient interaction between computing, storage, and display units [1] Group 2 - The main applications of Lontium's products include smart visual terminals, automotive electronics, AR/VR devices, and high-performance computing (HPC) [1] - According to Frost & Sullivan, Lontium ranks first in the video bridging chip market in mainland China and is among the top five fabless design companies globally based on projected revenue for 2024 [1]

智通财经APP讯，龙迅股份(688486.SH)公告，公司于2025年12月22日向中国香港联交所递交了境外公 开发行股票(H股)并在联交所主板挂牌上市的申请，并于同日在联交所网站刊登了本次发行上市的申请 资料。 ...

Core Viewpoint - Longxin Co., Ltd. (688486.SH) has submitted an application for the public offering of H-shares and listing on the Hong Kong Stock Exchange on December 22, 2025 [1] Group 1 - The company has filed its application with the Hong Kong Stock Exchange [1] - The application materials for this issuance and listing have been published on the Hong Kong Stock Exchange's website on the same day [1]