智通财经网·2026-01-09 00:41Company Overview - Company, Chip World Technology Co., Ltd. (芯天下), has submitted a listing application to the Hong Kong Stock Exchange, with GF Securities and CITIC Securities as joint sponsors [1] - The company specializes in the research, development, design, and sales of code-type flash memory chips, which are essential for system boot and operation, requiring high stability and reliability [4] - Chip World is one of the few domestic manufacturers capable of meeting both NOR Flash and SLC NAND Flash product demands, ranking sixth globally among fabless companies for code-type flash memory chips, fourth for SLC NAND Flash, and fifth for NOR Flash [4] Financial Performance - For the nine months ending September 30, 2023, 2024, and 2025, the company's revenues were approximately 663 million, 442 million, and 379 million RMB respectively [8] - The company reported losses of approximately 14.02 million, 37.14 million, and a profit of 8.42 million RMB for the same periods [8] - Gross profit margins for the same periods were 15.5%, 14.0%, and 18.8% respectively [10] Industry Overview - The flash memory chip industry is cyclical, typically operating on a three to four-year cycle, with market fluctuations expected [11] - The global flash memory chip market size decreased from $58.5 billion in 2020 to $40.9 billion in 2023, but is projected to rebound to $68.4 billion in 2024, representing a 67% year-on-year growth [11] - The market is expected to reach $88.8 billion by 2030, with a compound annual growth rate (CAGR) of 4.5% from 2024 to 2030 [11] - The increasing penetration of AI technology in edge devices is driving demand for code-type flash memory chips, which are critical for enhancing local code storage and execution efficiency [11] - The market share of code-type flash memory chips is expected to grow from 6.1% in 2020 to 7.2% in 2024, and further to 9.3% by 2030 [11] Product Segmentation - Code-type flash memory chips are primarily divided into NOR Flash and SLC NAND Flash, with NOR Flash used for small to medium capacity storage and SLC NAND Flash for large capacity storage [14] - The global market size for NOR Flash and SLC NAND Flash is projected to grow from $1.9 billion and $1.7 billion in 2020 to $2.8 billion and $2.1 billion in 2024, respectively [14]