Zheng Quan Shi Bao Wang·2025-12-18 00:53Core Viewpoint - The company, Zhaoyi Innovation (603986), is undergoing a listing hearing on the Hong Kong Stock Exchange, with China International Capital Corporation (601995) and Huatai International serving as joint sponsors [1] Company Overview - Zhaoyi Innovation is an integrated circuit design company that operates on a fabless model, focusing on chip design and research and development while outsourcing manufacturing to external partners [1] - The company's main products include Flash (NOR Flash, niche DRAM), microcontrollers (MCU), analog chips, and sensor chips, which are widely used in consumer electronics, automotive, industrial applications, personal computers, servers, IoT, and network communications [1] Market Position - According to Frost & Sullivan data, Zhaoyi Innovation ranks second globally in NOR Flash and first in mainland China, holding a global market share of 18.5% [1] - The company ranks sixth globally in single-layer NAND Flash and first in mainland China, with a global market share of 2.2% [1] - In niche DRAM, Zhaoyi ranks seventh globally and second in mainland China, with a market share of 1.7% [1] - The MCU segment sees the company ranked eighth globally and first in mainland China, with a market share of 1.2% [1] - In fingerprint sensor chips, Zhaoyi ranks second in mainland China, with a market share of approximately 10% [1]