江苏模拟芯片“小巨人”冲刺IPO！南航校友掌舵，拟募资近9亿

Core Viewpoint - Jiangsu Zhanxin, a company specializing in high-reliability analog chips, has received approval for its IPO, aiming to raise 889.5 million yuan for various projects including R&D and operational funding [3][5]. Group 1: Company Overview - Jiangsu Zhanxin was established in March 2018 with a registered capital of 370 million yuan, focusing on the R&D, design, testing, and sales of high-reliability analog chips and micro-modules [4]. - The company is recognized as a national-level "specialized, refined, distinctive, and innovative" small giant enterprise, holding a prominent position in the military electronics power management chip sector [5][4]. Group 2: Financial Performance - Over three and a half years, Jiangsu Zhanxin achieved nearly 1.6 billion yuan in revenue from over 33,000 orders, with an average order value of 47,000 yuan [7]. - Revenue and net profit figures for the years 2022 to 2025 (first half) are as follows: - 2022: Revenue 367 million yuan, Net Profit 148 million yuan - 2023: Revenue 466 million yuan, Net Profit 179 million yuan - 2024: Revenue 413 million yuan, Net Profit 95 million yuan - 2025 (1-6 months): Revenue 340 million yuan, Net Profit 124 million yuan [7]. Group 3: Product Portfolio - Jiangsu Zhanxin's product offerings include power management chips, micro-modules, signal chain chips, and discrete devices, with integrated circuits accounting for over half of its revenue [10][14]. - The company has expanded its product line to include various signal chain chips, such as current detection chips and operational amplifiers [16]. Group 4: Market Position and Client Base - The company has supplied products to over 1,600 clients, including major state-owned military enterprises like China Electronics Technology Group and Aviation Industry Corporation of China [23][24]. - Revenue from the top five clients accounted for 68.58%, 63.82%, 55.61%, and 63.94% of total revenue in 2022, 2023, 2024, and the first half of 2025, respectively [25]. Group 5: R&D and Innovation - Jiangsu Zhanxin employs 165 R&D personnel, representing 37.93% of its workforce, with over 97% holding bachelor's degrees and more than 45% holding master's degrees or higher [21]. - The company has developed a core technology matrix through independent R&D and innovation, focusing on high-reliability chip design and packaging technology [21][22]. Group 6: Future Outlook - The company plans to further develop diverse analog integrated circuit products and micro-modules to meet the demands of national defense modernization and supply chain security [36].