Novosense(SH:688052) Zhi Tong Cai Jing·2025-10-27 23:02Core Viewpoint - Suzhou Naxin Microelectronics Co., Ltd. has submitted an application to list on the main board of the Hong Kong Stock Exchange, with CICC, CITIC Securities, and Jianyin International as joint sponsors. The company previously submitted an application on April 25, 2025 [1]. Company Overview - Naxin Micro is a leading provider of analog chips in China, operating under a fabless model that focuses on chip research and design while outsourcing wafer manufacturing and packaging testing to trusted third-party foundries. The company offers a wide range of high-performance and reliable products and solutions in automotive electronics, energy, and consumer electronics [4]. - The company's product categories include sensors, signal chain chips, and power management chips, forming a complete system link from perception, signal processing, to system power supply and drive, playing a critical role in the connection and interaction between the real and digital worlds [4]. - According to Frost & Sullivan, Naxin Micro ranks 14th among all analog chip companies globally and 5th among Chinese manufacturers in the analog chip market, holding a market share of 0.9% as of 2024 [4]. Competitive Advantages - Naxin Micro identifies several advantages that position the company for future growth: 1. Leading position in the Chinese analog chip market with a rich product matrix around key downstream application scenarios 2. Leadership in the automotive chip sector, occupying a leading position in a high-barrier market 3. Superior product performance backed by extensive technical reserves 4. Strict quality control systems ensuring product reliability 5. Experienced management team with industry foresight and a high-quality talent pool [4]. Financial Performance - For the fiscal years 2022, 2023, and 2024, Naxin Micro reported revenues of approximately RMB 1.67 billion, RMB 1.31 billion, and RMB 1.96 billion, respectively. For the six months ending June 30 in 2024 and 2025, revenues were RMB 849 million and RMB 1.52 billion, respectively [5][6]. - The total comprehensive income for the same periods was approximately RMB 250 million, -RMB 305 million, -RMB 403 million, -RMB 266 million, and -RMB 78 million [5][6].