新股消息 尚鼎芯二度递表港交所 为无晶圆厂功率半导体供应商
Jin Rong Jie·2025-12-03 02:05

Company Overview - Shenzhen Shangdingxin Technology Co., Ltd. (Shangdingxin) has submitted a listing application to the Hong Kong Stock Exchange, with Jinhui Capital as its sole sponsor [1] - Shangdingxin is a fabless power semiconductor supplier specializing in the development and supply of customized power device products [1] - The company primarily offers MOSFETs, followed by IGBTs, GaN MOSFETs, and SiC MOSFETs, designed and customized according to client specifications [1] Product Applications - The products provided by Shangdingxin are widely used in power converters and battery management systems, covering various applications such as consumer electronics, industrial control, automotive electronics, renewable energy, energy storage, and medical devices [1] - The versatility of these applications enhances the company's growth potential and allows it to tap into diverse markets [1] Financial Performance - Revenue for the fiscal years ending September 30 for 2022, 2023, 2024, and 2025 was recorded at CNY 167 million, CNY 113 million, CNY 122 million, and CNY 105 million respectively [4] - The net profit for the same periods was CNY 53.61 million, CNY 31.02 million, CNY 35.11 million, and CNY 30.32 million respectively [5] - Gross margins for these years were 55.8%, 55.0%, 56.9%, and 57.1% respectively [6] Industry Overview - The global power device market, which includes components like thyristors, transistors, and diodes, is projected to grow from approximately USD 23 billion in 2019 to about USD 28.8 billion by 2024, with a compound annual growth rate (CAGR) of around 4.6% [7] - From 2025 to 2029, the market is expected to continue expanding, reaching approximately USD 38.2 billion by 2029, with an estimated CAGR of about 6.6% [8] - The Chinese MOSFET market is anticipated to grow from approximately USD 3.3 billion in 2019 to about USD 5.9 billion by 2024, with a CAGR of around 12.2% [9] - The IGBT market in China is projected to increase from approximately USD 1.8 billion in 2019 to about USD 3.1 billion by 2024, with a CAGR of around 11.7% [10]