陕西DRAM龙头，启动IPO！

Core Viewpoint - Xi'an Unigroup Guoxin Semiconductor Co., Ltd. has initiated its IPO process on the Beijing Stock Exchange, with the guidance of CITIC Construction Investment Securities [2][3] Group 1: Company Overview - Xi'an Unigroup Guoxin was established in April 2006 and is a product and service provider focused on storage technology [7] - The company has a registered capital of 136.32 million RMB, with Beijing Unigroup Storage Technology Co., Ltd. holding 59.63% of its shares [8] - The company has transitioned through several ownership changes, including a merger with Beijing Unigroup Storage Technology Co., Ltd. in December 2019 [9] Group 2: Financial Performance - The audited operating revenues for 2023 and 2024 are projected to be 914 million RMB and 1.21 billion RMB, respectively, indicating a year-on-year increase of 32.42% for 2024 [3][4] - The net losses for the same years are expected to be 199 million RMB and 24 million RMB, with a significant reduction in net loss by 87.74% in 2024 [3][4] Group 3: Research and Development - The company's R&D expenditures for 2023 and 2024 are 231 million RMB and 179 million RMB, respectively, accounting for 19.34% of total revenues over the last two years [4] - The gross profit margins for 2023 and 2024 are projected to be 11.75% and 18.79%, respectively [4] Group 4: Product and Market Presence - Xi'an Unigroup Guoxin has over 20 chip products and 40 module products in mass production, serving various sectors including computing, telecommunications, and industrial applications [12] - The company has completed over 290 projects for more than 60 domestic and international clients, with a significant focus on automotive-grade products expected to reach millions in annual shipments by 2024 [12] Group 5: Major Clients - The top clients for 2024 include China Electronics Corporation with sales of approximately 439.52 million RMB (36.33% of total sales), followed by New Unigroup with 140.41 million RMB (11.61%) [12]