Core Viewpoint - Ruishi Chuangxin has been accepted for IPO on the Sci-Tech Innovation Board, with ongoing financial challenges reflected in continuous net losses during the reporting period [2][3]. Financial Performance - The company's revenue for the reporting period (2022 to the first half of 2025) was as follows: 370 million CNY, 649 million CNY, 668 million CNY, and 377 million CNY respectively [3][5]. - The net profit during the same period showed consistent losses: -328 million CNY, -328 million CNY, -353 million CNY, and -148 million CNY [3][5]. Research and Development - Ruishi Chuangxin has invested heavily in R&D, with expenses amounting to 253 million CNY, 272 million CNY, 216 million CNY, and 100 million CNY during the reporting period, representing 68.52%, 41.97%, 32.30%, and 26.51% of revenue respectively [4][5]. - The company aims to maintain high R&D investment due to the high technical barriers and long development cycles in the RF front-end industry [4]. Profitability Challenges - The company's gross margin for its main business was significantly lower than the average of comparable companies, recorded at 7.95%, 13.90%, 8.79%, and 9.79% during the reporting period, compared to industry averages of 26.31%, 23.49%, 20.90%, and 21.09% [7][8]. - The low gross margin is attributed to product structure differences and strategic pricing to expand market share [8]. Fundraising and Investment Plans - Ruishi Chuangxin plans to raise 809 million CNY, which will be allocated to the second phase of the MEMS device production base, R&D center construction, and working capital [8][9]. - The total investment for the second phase of the MEMS device production base is 369 million CNY, while the R&D center construction is estimated at 330 million CNY [9].
锐石创芯IPO：业绩持续亏损 主营业务毛利率显著低于可比公司均值
Sou Hu Cai Jing·2026-01-19 06:18