Novosense(SH:688052) Ge Long Hui·2025-11-27 23:04Core Viewpoint - 纳芯微 plans to globally offer 19.0684 million H-shares, with a maximum price of HKD 116.00 per share, aiming to raise approximately HKD 2.0964 billion in net proceeds from the offering [1][3] Group 1: Offering Details - The company will offer 1.90684 million H-shares, with 0.19069 million shares available in Hong Kong and 17.1615 million shares for international distribution [1] - The subscription period is set from November 28 to December 3, 2025, with the expected pricing date on December 4, 2025 [1] - The shares are expected to commence trading on the Hong Kong Stock Exchange on December 8, 2025 [1] Group 2: Business Model and Market Position - The company operates on a fabless model, focusing on chip research and design while outsourcing wafer manufacturing and most packaging testing to third-party suppliers [1] - It provides high-performance and reliable products in automotive electronics, energy, and consumer electronics sectors [1] - According to Frost & Sullivan, the company ranks 14th in the Chinese analog chip market with a market share of 0.9%, and 5th among Chinese analog chip companies [1] Group 3: Cornerstone Investment Agreements - The company has established cornerstone investment agreements, with investors agreeing to subscribe for shares totaling approximately HKD 1.0891 billion [2] - Key cornerstone investors include Yuanhe Naxin International, Golden Link Worldwide Limited, and Xiaomi Group's subsidiary [2] Group 4: Use of Proceeds - The estimated net proceeds of approximately HKD 2.0964 billion will be allocated as follows: 18% for enhancing technology capabilities, 22% for expanding the product portfolio in automotive electronics, 25% for expanding overseas sales networks, 25% for strategic investments or acquisitions, and 10% for working capital and general corporate purposes [3]