雷军投的芯片公司要IPO了！华为OPPO均持股，拟募资8亿

Core Viewpoint - Ruishi Chuangxin, a company specializing in RF front-end chips and modules, has been accepted for IPO on the Sci-Tech Innovation Board, aiming to raise 8.09 billion yuan for expansion and R&D [2][4]. Company Overview - Established in April 2017 with a registered capital of 434 million yuan, Ruishi Chuangxin focuses on key technologies in RF communication and has developed a complete industrial chain covering chip design, filter manufacturing, and module packaging and testing [2]. - The company has become a mainstream supplier in the domestic RF front-end chip and module market, with clients including major smartphone manufacturers like OPPO, Xiaomi, and ZTE [2]. Financial Performance - Ruishi Chuangxin reported revenues of 370 million yuan, 649 million yuan, 669 million yuan, and 377 million yuan for the years 2022, 2023, 2024, and the first half of 2025, respectively [6][11]. - The company incurred net losses of 328 million yuan, 328 million yuan, 353 million yuan, and 148 million yuan during the same periods [7]. - The gross profit margins for its main products remain low, with 5G RF front-end modules experiencing a decline in profitability [10][14]. Product and Market Dynamics - The sales proportion of 5G RF front-end modules increased from 8.5% in 2022 to 47.23% in the first half of 2025, while 4G modules decreased from 91.43% to 43.5% [10][11]. - The company has established stable partnerships with leading IoT module manufacturers, enhancing its market presence [18]. R&D and Innovation - Ruishi Chuangxin has a strong R&D team, with 59.36% of its employees dedicated to research, and has been recognized as a national-level "specialized and innovative" key enterprise [15][16]. - The company has completed or is undertaking several significant research projects, contributing to its technological advancements [15]. Supply Chain and Clientele - The company employs a combination of direct sales and distribution, supplying products to major brands such as OPPO, Xiaomi, and Samsung, as well as ODM manufacturers [17][19]. - Ruishi Chuangxin's procurement strategy includes sourcing materials from both domestic and international suppliers, ensuring a diversified supply chain [20][21]. Shareholding Structure - The largest shareholders include OPPO, Huawei's Hubble Technology, and Lei Jun's Shunwei Capital, indicating strong backing from prominent industry players [22][25]. Strategic Importance - The RF front-end modules and discrete devices produced by Ruishi Chuangxin are critical components in various applications, including smartphones and IoT devices, contributing to the national strategic emerging industries [29].