公司研究室IPO周报：GPU独角兽瀚博半导体启动IPO辅导；歌尔微电子冲击港股IPO

IPO Dynamics - Hengkun New Materials is set to list on the Sci-Tech Innovation Board after passing the review on July 25 [1] - Two new stocks, Shanda Electric Power and Jiyuan Group, were listed on the ChiNext and the main board of the Shanghai Stock Exchange on July 23 [2] - Three new stocks are available for subscription this week [3] - Han Gao Group, Dingjia Precision, and Hansang Technology are scheduled for subscription on July 21, 22, and 25 respectively [4] - Two new stocks are tentatively scheduled for subscription next week, Tianfulong on July 28 and Guangdong Jianke on August 1 [5] Hong Kong Stock Market - Goer Microelectronics submitted its prospectus to the Hong Kong Stock Exchange on July 21 [6] - Tianyu Semiconductor and Dahan Engineering submitted their prospectuses on July 22 [7] - Juzhi Technology submitted its prospectus on July 23 [8] - Zhonghui Yuantong submitted its prospectus on July 24 [9] Hot Topics - Hanbo Semiconductor has initiated IPO counseling and plans to list on A-shares, with CITIC Securities as the counseling institution [10] - Hanbo Semiconductor, established in December 2018, specializes in high-end GPU chips and has a R&D team of over 500 people, with more than 80% in R&D roles [10] - The company has undergone six rounds of financing, with significant amounts raised in A and B rounds [10] - Hanbo Semiconductor was valued at 10 billion yuan in the 2024 Hurun Global Unicorn List [11] Cryptocurrency Sector - Bullish, a cryptocurrency exchange, has filed for an IPO with the SEC, becoming the first crypto company to seek public listing after the stablecoin bill was enacted [11] - Bullish was founded in 2021 and has significant backing from notable investors including Peter Thiel [11] - The company’s business includes a cryptocurrency exchange and a data/media business acquired in 2023 [12] - Bullish holds over 24,000 bitcoins and has reported a total trading volume exceeding $1.25 trillion since its inception [12] - The company expects a net profit of $80 million in 2024, but a net loss of $349 million in Q1 2025 [13] Goer Microelectronics - Goer Microelectronics has submitted its prospectus for a second time after its initial application expired [14] - The company serves 126 direct clients, including major smartphone manufacturers like Apple and Xiaomi [14] - Revenue figures for Goer Microelectronics from 2022 to Q1 2025 show fluctuations, with 2022 revenue at 3.121 billion yuan and 2023 at 3 billion yuan [15] - The gross margin has varied, with 2023 showing a decline due to slower product iteration from clients [16] - Revenue from the top five clients consistently exceeds 75%, with Apple being a significant contributor [17]