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希磁科技冲击港股IPO,专注于磁性传感器领域,2023年收入下滑
Ge Long Hui·2025-08-27 08:57

Company Overview - Anhui Xici Technology Co., Ltd. (referred to as "Xici Technology") has submitted its prospectus to the Hong Kong Stock Exchange on August 26, with CITIC Securities International and GF Securities (Hong Kong) as joint sponsors [1] - The company specializes in the magnetic sensor field, which is influenced by demand fluctuations in downstream industries such as new energy vehicles, photovoltaics, and robotics [2][31] - Xici Technology is currently in a development stage, facing pressure due to a significant decrease in cash reserves and a decline in product prices over recent years [2][31] Founding and Leadership - Xici Technology was founded by Dr. Wang Jianguo in February 2013, with a focus on high-end magnetic sensor research and development [5] - The core team includes Dr. Wang, Dr. Mao Sineng, and Dr. Bai Jianmin, with Dr. Mao having resigned in August 2023 [5][8] - Dr. Wang holds a Ph.D. in Physics Engineering from the University of Lisbon and has over 20 years of experience in the magnetic sensor industry [8][9] Financial Performance - The company reported revenues of RMB 666.3 million in 2022, RMB 594.2 million in 2023, and projected revenues of RMB 703.4 million in 2024 [14][16] - Net losses were recorded at RMB 1.206 billion in 2022 and RMB 66.6 million in 2023, with a projected net profit of RMB 9.9 million in 2024 [14][15] - Cash and cash equivalents significantly decreased from RMB 314.2 million at the end of 2024 to RMB 177.5 million by April 30, 2025 [22] Product and Market Position - Xici Technology's products primarily include current sensors and motion sensors, with current sensors accounting for 82.7% of revenue in 2024 [17] - The global magnetic sensor market is projected to grow from RMB 119.2 billion in 2024 to RMB 293 billion by 2029, with a compound annual growth rate (CAGR) of 19.7% [27] - Xici Technology ranks tenth among global magnetic sensor suppliers, holding a market share of 0.6% [29][30] Investment and Shareholding - The company has undergone six rounds of financing, with the Advanced Manufacturing Industry Investment Fund II being a major institutional shareholder, holding 15.79% of issued shares [6] - Dr. Wang controls approximately 25.29% of the voting rights, making him the largest single shareholder group [6] Research and Development - As of April 30, 2025, Xici Technology employed 118 R&D personnel, accounting for 14.1% of total employees, with R&D expenses representing 6.4% to 8.6% of total revenue during the reporting period [21] - The company faces credit risks related to customer payment delays and defaults, with trade receivables amounting to RMB 1.837 billion at the end of 2022 [21]