芯天下，重启上市

Core Viewpoint - Chip Tianxia Technology Co., Ltd. has officially submitted its listing application to the Hong Kong Stock Exchange after withdrawing its IPO application for the ChiNext board due to exaggerated annual performance expectations in its application materials [1][6]. Company Overview - Chip Tianxia specializes in the research, development, design, and sales of code-type flash memory chips, offering a wide capacity range from 1Mbit to 8Gbit. These chips are designed for high stability and reliability in storage systems [2]. - The company also provides analog chips and microcontrollers (MCUs), with applications spanning consumer electronics to industrial systems. Its products are integrated into the supply chains of well-known brands such as Samsung, Midea, and ZTE [2]. Financial Performance - The sales revenue for Chip Tianxia in 2023, 2024, and the nine months ending September 30, 2025, were RMB 663 million, RMB 442 million, and RMB 380 million, respectively. The corresponding gross profits were RMB 103 million, RMB 61.9 million, and RMB 71.3 million, with gross margins of 15.5%, 14.0%, and 18.8% [3]. - The company reported a net profit of RMB 8.4 million for the nine months ending September 30, 2025, marking a turnaround from losses of RMB 14 million in 2023 and RMB 37.1 million in 2024 [4]. Strategic Direction - Chip Tianxia plans to deepen its "Storage+" R&D strategy, focusing on developing analog chips and MCUs to create synergies with its storage chip products. The company has noted an increasing market demand for in-memory computing (CIM) AI chips, which can execute AI inference within memory, supporting localized deployment of smart applications [4].