IPO雷达｜武汉聚芯被证监会要求补充材料：业务模式、合规性、诉讼风险受关注

Core Viewpoint - Wuhan Juxin Microelectronics Co., Ltd. is facing regulatory scrutiny from the China Securities Regulatory Commission (CSRC) regarding its Hong Kong IPO application, with concerns raised about its business model, compliance, and equity incentive plans [1] Financial Performance - The company's revenue has shown growth due to increased demand in downstream industries, with reported revenues of 127 million, 242 million, 667 million, and 400 million yuan for the years 2022, 2023, 2024, and the first half of 2025 respectively [2] - The net profit figures for the same periods were -137 million, -110 million, 9.73 million, and 20.72 million yuan, indicating a return to profitability in 2024 after two years of losses [2] - Despite the positive trend in net profit, the company's gross margin fell to 23.6% in 2023, and the prices of its main products have been on a downward trend [2] Regulatory Requirements - The CSRC has requested the company to provide detailed explanations of its business model, the status of its technology export activities over the past three years, and compliance with regulatory procedures related to overseas investments and foreign exchange management [3] - The company must clarify the reasonableness of the pricing for new shareholders and whether there are any issues of interest transfer, as well as disclose the composition, pricing fairness, and compliance of its implemented equity incentive plans [4] - Additionally, the company is required to disclose any pledges or freezes on shares of shareholders participating in the "full circulation" and to explain any pending litigation that may pose substantial obstacles to its operations or issuance [5]