Biwin Storage Technology (SH:688525) 智通财经网·2025-10-28 13:17Core Viewpoint - Shenzhen Baiwei Storage Technology Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with Huatai International as the sole sponsor [1] Company Overview - Baiwei Storage is a leading independent semiconductor storage solution provider tailored for the AI era, possessing unique capabilities in main control chip design, innovative storage solutions, and advanced packaging technology [3][5] - The company transforms NAND and DRAM wafers into diverse storage solutions to meet the evolving demands of AI applications, emphasizing a seamless integration of R&D and packaging processes to enhance efficiency and product customization [3] Market Position - The company holds a leading market position across various verticals, serving notable global clients such as Meta, Google, Xiaomi, and OPPO, showcasing its ability to deliver diverse storage solutions [4] - Baiwei Storage is the only independent storage solution provider globally with wafer-level packaging capabilities and is projected to be the largest independent storage manufacturer with proprietary packaging by 2024 [5] Financial Performance - For the six months ending June 30, 2022, 2023, 2024, and 2025, the company reported revenues of approximately RMB 2.986 billion, RMB 3.591 billion, RMB 6.695 billion, and RMB 3.912 billion respectively, with net profits of RMB 71.22 million, a loss of RMB 630.87 million, a profit of RMB 135.24 million, and a loss of RMB 241.35 million [6][7]