JoulWatt(SH:688141) 智通财经网·2025-05-30 09:22Core Viewpoint - Jiewa Microelectronics Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CITIC Securities as its sole sponsor, focusing on the design and development of analog integrated circuits [1][3]. Company Overview - Jiewa operates as a virtual IDM (Integrated Device Manufacturer) specializing in analog integrated circuit design, aiming to become a leader in the global analog integrated circuit industry [1][3]. - The company has developed proprietary and internationally advanced process platforms for integrated circuit production, offering a comprehensive range of analog integrated circuit products [3]. Product Portfolio - The product lineup includes power management integrated circuits and signal chain integrated circuits, with approximately 2,200 models available for sale as of December 31, 2024, including over 2,000 power management integrated circuit models [3]. Supplier Relationships - Major suppliers consist of wafer fabs and integrated circuit packaging and testing service providers. The procurement amounts from the top five suppliers for 2022, 2023, and 2024 were approximately RMB 1.1535 billion, RMB 0.9113 billion, and RMB 1.0525 billion, accounting for 74.8%, 69.4%, and 69.0% of total procurement, respectively [3]. Financial Performance - Revenue for the fiscal years 2022, 2023, and 2024 was approximately RMB 1.448 billion, RMB 1.297 billion, and RMB 1.679 billion, respectively. The net profit/loss for the same periods was approximately RMB 136 million, -RMB 533 million, and -RMB 611 million [3][5]. - The gross profit margins for these years were 38.5%, 11.8%, and 15.1%, indicating a significant decline in profitability in 2023 [5][7]. Research and Development - R&D expenses for the fiscal years 2022, 2023, and 2024 were RMB 304.7 million, RMB 499.4 million, and RMB 619.3 million, representing 21.1%, 38.5%, and 36.9% of total revenue, respectively [5][7].