芯德半导体递表港交所 近三年处于连续亏损状态

Core Viewpoint - Jiangsu Xinde Semiconductor Technology Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange, with Huatai International as the sole sponsor [1]. Company Overview - Xinde Semiconductor is a provider of semiconductor packaging and testing solutions, focusing on developing packaging designs, customized packaging products, and testing services [3]. - The company is one of the first in China to possess advanced packaging technology capabilities, which are crucial for enhancing chip performance and efficiency in the post-Moore's Law era [3][4]. Technology and Innovation - The company has established a comprehensive technology platform covering all branches of advanced packaging technology, enabling continuous research and development of cutting-edge technologies [3][4]. - As of October 22, 2025, the company holds 211 patents in China, including 32 invention patents and 179 utility model patents, which strengthen its competitive advantage [4][5]. Business Model - Operating under the OSAT (Outsourced Semiconductor Assembly and Test) model allows the company to focus resources on packaging design, production, and testing services, while clients concentrate on semiconductor chip design and wafer manufacturing [5]. - This model supports advanced packaging research and professional facilities, enabling clients to access cutting-edge technology without extensive internal development [5]. Financial Performance - The company reported revenues of approximately RMB 269 million, RMB 509 million, RMB 827 million, and RMB 475 million for the years 2022, 2023, 2024, and the first half of 2025, respectively [6]. - The net losses for the same periods were approximately RMB 360 million, RMB 359 million, RMB 377 million, and RMB 219 million [6].