“A+H”持续升温！又一家千亿市值存储企业赴港上市

Core Viewpoint - The storage industry is facing both opportunities and challenges this year, with leading companies like 澜起科技 (Lianqi Technology) poised for growth through international expansion and innovation in chip design [1][2]. Group 1: Company Strategy and Goals - 澜起科技 plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international strategy and attract talent, aiming to strengthen its core competitiveness [2][3]. - The company’s strategic goal for the next five to ten years is to become a leading international full interconnect chip design company, focusing on high-performance interconnect solutions for cloud computing and AI infrastructure [2][3]. Group 2: Business Performance and Market Outlook - In Q1 2025, 澜起科技 reported sales revenue of 1.139 billion yuan for interconnect chip products, a year-on-year increase of 63.92% and a quarter-on-quarter increase of 17.19%, marking eight consecutive quarters of growth [3]. - The company anticipates strong demand for DDR5 memory interface chips and high-performance interconnect chips, with orders exceeding 1.29 billion yuan for Q2 2025 [3][4]. - In 2024, 澜起科技 achieved revenue of 3.639 billion yuan, a year-on-year growth of 59.2%, and a net profit of 1.412 billion yuan, up 213.1% [4]. Group 3: Market Trends and Projections - The global memory interface chip market is projected to grow from 1.009 billion USD in 2024 to 1.268 billion USD in 2025, with a CAGR of 28.5% from 2025 to 2031 [4]. - By 2028, the global storage interface chip market is expected to reach 19.475 billion yuan, driven by the increasing penetration of DDR5 technology [4]. Group 4: Competitive Position - 澜起科技 holds a 43.35% market share in the memory interface chip sector as of 2023, with significant clients including major DRAM manufacturers like Samsung, SK Hynix, and Micron [5]. - The company's successful listing and financing are expected to enhance its brand and technical barriers, facilitating further business expansion [5].