Zheng Quan Shi Bao Wang·2026-01-05 00:24Core Viewpoint - Hongxin Yu has submitted a listing application to the Hong Kong Stock Exchange, with CITIC Securities International as its sole sponsor. The company has been focused on storage product applications since its establishment in 2018, offering embedded storage, solid-state drives, DRAM, and mobile storage products [1]. Company Overview - Hongxin Yu has built a full-stack technology platform that includes main control chip design, firmware algorithms, testing system development, and storage medium characteristic analysis, enabling the provision of customized storage products [1]. - According to Frost & Sullivan, based on 2024 revenue, Hongxin Yu ranks as the fifth largest independent memory manufacturer globally and the second largest in mainland China, while also being the largest independent memory manufacturer in the smartphone sector [1]. Product Applications - The company's products are widely used in various applications, including smartphones, tablets, AI cameras, personal computers, data centers, and vehicle control systems across consumer, automotive, and enterprise-grade scenarios [1]. - Hongxin Yu has established partnerships with well-known consumer companies such as Xiaomi, Transsion, and OPPO. In 2023, the company began providing storage products for automotive applications and entered the Tier 1 supplier chain, with plans to achieve mass production of enterprise-grade storage products by 2026 [1]. Market Trends - The global storage product market is rapidly growing, driven by AI demand, with projections indicating an increase from $263.3 billion in 2025 to $407.1 billion by 2029, representing a compound annual growth rate (CAGR) of 11.5%. The storage chip market is entering a "super cycle" [1].