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飞骧科技递表港交所 专注于设计、研发和销售射频前端芯片
Zhi Tong Cai Jing·2025-08-28 23:56

Core Viewpoint - Feiqiang Technology is a fabless semiconductor company based in China, focusing on the design, research, and sales of RF front-end chips, with applications in mobile smart devices, Wi-Fi products, smart homes, IoT, automotive communication, and satellite communication [3] Company Overview - The company is a leading supplier of power amplifiers (PA) and PA integrated transceiver modules, ranking fifth globally and first among Chinese companies in terms of revenue from PA and PA integrated transceiver modules by 2024 [3] - Feiqiang Technology's products support various network standards including 5G, 4G, 3G, 2G, Wi-Fi, and NB-IoT, and are compatible with mainstream cellular baseband communication platforms and Wi-Fi platforms [3] - The company became the first domestic enterprise in China to launch a fully 5G RF front-end solution supporting all frequency bands in 2020 [3] Business Model - Feiqiang Technology adopts a fabless business model, outsourcing wafer manufacturing, packaging, and testing to foundries and service providers, allowing the company to focus on high-value segments such as chip R&D, sales, and marketing [4] - The company has achieved significant advancements in RF technology, including reduced power consumption for PA and LNA, improved linearity, and enhanced performance of filters and RF switches [4] Industry Growth - The global RF front-end chip market is expected to grow from RMB 159.5 billion in 2024 to RMB 234.3 billion by 2029, with a compound annual growth rate (CAGR) of 10.1% [5] - The Chinese RF front-end chip market is projected to increase from RMB 33.6 billion in 2024 to RMB 53 billion by 2029, with a CAGR of 12.1% [5] Financial Performance - Feiqiang Technology reported revenues of approximately RMB 1.021 billion, RMB 1.717 billion, and RMB 2.458 billion for the fiscal years 2022, 2023, and 2024, respectively [6] - The company experienced net losses of approximately RMB 360.96 million in 2022, RMB 193.46 million in 2023, and a projected profit of RMB 76.29 million in 2024 [6]