UNIS(SZ:000938) 智通财经网·2025-12-04 00:16Core Viewpoint - Unisoc Co., Ltd. (紫光股份) has submitted its application for listing on the Hong Kong Stock Exchange, with CITIC Securities International, BNP Paribas, and China Merchants International as joint sponsors [1]. Company Overview - Unisoc is a digital solution provider, offering ICT infrastructure products (including computing, storage, connectivity, and security) and cloud services, primarily for AI training, inference, and big data processing [3]. - Over 90% of the company's revenue comes from mainland China, with less than 10% from overseas markets [3]. - According to Frost & Sullivan, Unisoc is projected to be the third-largest supplier in China's digital infrastructure market by revenue in 2024, holding an 8.6% market share [3]. Business Segments - The core business includes: - Digital Solutions: Design, development, and supply of ICT infrastructure products, which can be offered as standalone products or customized solutions [3]. - ICT Product Distribution: Besides self-developed products, the company distributes ICT products from domestic and international brands to Chinese customers [3]. Global Presence - As of June 30, 2025, the company has sales and services in over 100 countries and regions, with 32 overseas subsidiaries established in Asia, Europe, Africa, and Latin America [4]. Financial Performance - Revenue for the fiscal years ending December 31 for 2022, 2023, 2024, and for the six months ending June 30, 2025, is projected to be RMB 737.52 billion, RMB 775.38 billion, RMB 790.24 billion, and RMB 474.25 billion, respectively [6]. - The company recorded profits of RMB 37.42 billion, RMB 36.85 billion, RMB 19.82 billion, and RMB 12.85 billion for the same periods [7]. Profitability Metrics - Gross profit margins for the fiscal years ending December 31 for 2022, 2023, 2024, and for the six months ending June 30, 2025, are 19.8%, 18.5%, 16%, and 14.4%, respectively [9]. Market Overview - The global digital solutions market has shown stable growth, increasing from USD 15 trillion in 2020 to an estimated USD 26 trillion by 2024, with a CAGR of 14.1% [11]. - The Chinese digital solutions market is expected to grow from RMB 1 trillion in 2020 to RMB 1.9 trillion by 2024, with a CAGR of 18.1% [13]. Digital Infrastructure Market - The global digital infrastructure market is projected to grow from USD 250.8 billion in 2020 to USD 439.6 billion by 2024, with a CAGR of 15.1% [15]. - The Chinese digital infrastructure market is expected to increase from RMB 339.7 billion in 2020 to RMB 614.4 billion by 2024, with a CAGR of 16.0% [17].