陕西DRAM龙头，启动IPO

Core Viewpoint - Xi'an Unisoc Semiconductor Co., Ltd. has initiated its IPO process on the Beijing Stock Exchange, with CITIC Securities as the advisory institution, marking a significant step in its growth strategy [1][2]. Group 1: Company Overview - Xi'an Unisoc was established in April 2006 and is a subsidiary of the New Unisoc Group, focusing on storage technology products and services [5][7]. - The company has a registered capital of 136.32 million RMB, with Beijing Unisoc Storage Technology Co., Ltd. holding a 59.63% stake as the controlling shareholder [5][6]. - The company has transitioned through various ownerships and restructuring, with its core business including storage chip products, custom high-bandwidth DRAM products, and integrated circuit design services [7][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 [2][3]. - 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 [2][3]. - The company's R&D investments for 2023 and 2024 are 231 million RMB and 179 million RMB, representing 19.34% of the total operating revenue over the last two years [3]. Group 3: Product and Market Position - Xi'an Unisoc has successfully launched over 20 chip products and 40 module products, which are widely used in computers, servers, mobile communications, consumer electronics, and industrial applications [9]. - The company has a comprehensive design and development experience, having completed over 10 SoC chip designs based on 65nm and 40nm processes [9]. - In 2024, the annual shipment volume of its automotive-grade products is expected to reach several million units [9]. Group 4: Customer Base - Major customers include China Electronics Corporation, New Unisoc Group, and Shenzhen Huashanglong Business Interconnection Technology Co., Ltd., with total sales amounting to approximately 830 million RMB, accounting for 68.64% of total sales [11].