3年累计亏损4.9亿元 力积存储拟赴港交所上市

Group 1 - The core viewpoint of the news is that Zhejiang Liji Storage Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CICC (Hong Kong) as the sole sponsor [1] - Liji Storage was established in 2020, focusing on the potential of DRAM, and has a history of investment from Longxin Zhongke [1] - The company has undergone multiple rounds of capital increases and share transfers, with a valuation of 1.235 billion yuan in March 2025 [1] Group 2 - Liji Storage is a memory chip design company and AI computing solution provider, with a complete product line from SDR to DDR4, focusing on the niche DRAM market [2] - The company reported revenues of 610 million yuan, 580 million yuan, and 646 million yuan for 2022-2024, with losses of 139 million yuan, 244 million yuan, and 109 million yuan respectively [2] - The gross profit margins for the same period were -2.1%, 3.7%, and 9.3%, indicating a gradual improvement in profitability [2] Group 3 - The memory chip market is highly competitive and increasingly so, which poses risks to the company's business and future prospects [3] - The market is characterized by cyclicality and periods of declining average selling prices, which could adversely affect the company's financial condition [3] - The company has recorded net cash outflows from operating activities of 176 million yuan, 63 million yuan, and 18 million yuan for 2022, 2023, and 2024 respectively, indicating significant financial pressure [3]