Core Viewpoint - Starry Technology, a leading visual AI chip company, has submitted its H-share listing application in Hong Kong as a key step in its global strategy, aiming to leverage the international advantages of the Hong Kong capital market to expand overseas business [1][2] Group 1: Company Overview - Starry Technology is the largest global supplier of visual AI SoCs, holding a market share of 26.7% based on 2024 shipment volume [1] - The company ranks first in the security visual AI SoC segment with a market share of 41.2% and second in the robotics visual AI SoC segment with a market share of 23.0% [1] - As of October 28, 2024, the company's A-shares closed at 59.2 yuan per share, with a market capitalization of 25 billion yuan [1] Group 2: Financial Performance - For the first three quarters of 2025, Starry Technology reported revenue of 2.166 billion yuan, a year-on-year increase of 19.5%, and a net profit attributable to shareholders of 202 million yuan, up 3.03% [2] - In Q3 2025, the company achieved revenue of 763 million yuan, reflecting a year-on-year growth of 21.13%, and a net profit of 82.25 million yuan, which is a 23.46% increase [2] - Research and development expenses for the first nine months of 2025 reached 501 million yuan, a 15.8% increase year-on-year, with R&D personnel constituting 77.5% of the total workforce [2] Group 3: Strategic Initiatives - The company views the Hong Kong listing as a means to enhance its international visibility and strengthen ties with top global clients and partners [2] - Starry Technology has successfully designed and developed over 600 SoC products, with cumulative shipments reaching 454 million units by June 30, 2025 [2] - The smart IoT business, particularly the robotics visual AI SoC, has become a significant growth driver, with 5.5 million units shipped in the first half of the year [3] - The smart automotive sector is also showing strong growth, with double-digit revenue increases in the first three quarters of 2025, supported by an integrated solution covering multiple application scenarios [3]
视觉AI芯片龙头，拟“A+H”上市