新股消息 移芯通信递表港交所 出货量位居中国蜂窝通信芯片行业第一

Core Viewpoint - Shanghai Yixin Communication Technology Co., Ltd. (Yixin Communication) has submitted its application for listing on the Hong Kong Stock Exchange, with CITIC Securities International as its sole sponsor [1] Company Overview - Yixin Communication specializes in the research, development, architecture, and commercialization of cellular communication chips, enabling devices to communicate via cellular LTE/5G networks [1] - The company's chip product matrix covers low, medium, high, and ultra-high wireless transmission speeds, optimizing the balance of power, performance, and area/cost (PPA) [1] - The chips form the foundation of the IoT ecosystem, facilitating seamless data exchange for smart meters, vehicles, and industrial equipment [1] - The chips also enhance device intelligence through vector-augmented edge AI and Open CPU technology, supporting a wide range of applications from smart sensors to industrial automation [1] Product Categories - Cellular communication chips are categorized into low-speed (e.g., NB-IoT), medium-speed (e.g., 4G Cat.1bis), high-speed (e.g., 5G RedCap), and ultra-high-speed (e.g., 5G eMBB) based on technical characteristics and application scenarios [2][9] - The product series includes various models for NB-IoT and Cat.1bis, catering to the evolving demands of the IoT market [2] Financial Performance - Revenue for Yixin Communication was approximately 410 million RMB, 533 million RMB, 552 million RMB, and 337 million RMB for the fiscal years ending June 30 in 2022, 2023, 2024, and the first half of 2025, respectively [4] - The company reported losses of 98.04 million RMB, 159 million RMB, 12.39 million RMB, and 16.85 million RMB for the same periods [5] - Gross margins were approximately -3.6%, 8.9%, 22.3%, and 22.8% for the respective fiscal years [6] Industry Overview - The cellular communication chip market is experiencing rapid growth, with global shipments expected to rise from 343 million units in 2020 to 572 million units in 2024, reflecting a compound annual growth rate (CAGR) of 13.6% [10] - The Chinese market is expanding significantly, with shipments projected to grow from 189 million units in 2020 to 367 million units in 2024, achieving a CAGR of 18.0% [10] - By 2024, Yixin Communication is expected to rank first in China and third globally in terms of cellular communication chip shipments, with a global market share of 15.3% [11]