GigaDevice(SH:603986) Ju Chao Zi Xun·2025-06-20 02:50Core Viewpoint - Zhaoyi Innovation has submitted an application for the issuance of H shares and listing on the Hong Kong Stock Exchange, highlighting its position as a leading global multi-chip design company specializing in various chip products and solutions [2] Company Overview - Zhaoyi Innovation is a global leader in multi-chip design, providing diverse chip products including Flash, niche DRAM, MCU, analog chips, and sensor chips, along with corresponding algorithms and software solutions [2] - The company operates under a fabless business model, focusing on integrated circuit design and R&D to maintain technological leadership [2] - Established in 2005, Zhaoyi Innovation has spent 20 years in the specialized storage chip industry and 14 years in the MCU field, becoming a leading enterprise in China for specialized storage chips and MCUs [2] Market Position - According to Frost & Sullivan, Zhaoyi Innovation is a market leader in multiple fields, being the only integrated circuit design company globally ranked in the top ten for NOR Flash, SLC NAND Flash, niche DRAM, and MCU [2] - Specific rankings include: - NOR Flash: Second globally, first in mainland China [3] - SLC NAND Flash: Sixth globally, first in mainland China [3] - Niche DRAM: Seventh globally, second in mainland China [3] - MCU: Eighth globally, first in mainland China [4] - Fingerprint sensor chips: Second in mainland China [5] Financial Performance - Revenue figures for Zhaoyi Innovation are as follows: - 2022: RMB 8,130 million - 2023: RMB 5,760.8 million - 2024: RMB 7,356 million [5] - Adjusted net profit (non-IFRS) for the same years: - 2022: RMB 2,256.1 million, net profit margin of 27.7% - 2023: RMB 258.3 million, net profit margin of 4.5% - 2024: RMB 1,259.9 million, net profit margin of 17.1% [5] R&D Investment - Zhaoyi Innovation emphasizes R&D to meet complex market demands, with R&D expenditures as follows: - 2022: RMB 935.6 million (11.5% of total revenue) - 2023: RMB 990.0 million (17.2% of total revenue) - 2024: RMB 1,122.4 million (15.3% of total revenue) [5] - As of December 31, 2024, the company holds 1,059 patents, 195 registered trademarks, 62 copyrights, and 3 domain names [5]