OPPO、英特尔入股，功率半导体器件龙头，拟港股上市

Core Viewpoint - Shenzhen Weizhao Semiconductor Co., Ltd. is preparing for an IPO on the Hong Kong Stock Exchange, highlighting its position as a leading provider of power semiconductor devices and its unique fab-lite operational model [2][3]. Company Overview - Weizhao Semiconductor was founded on December 4, 2012, and operates with a fab-lite model that combines outsourced standardized manufacturing flexibility with internal manufacturing capabilities, allowing for supply chain flexibility and strict cost and quality control [2]. - The company specializes in wafer-level chip scale packaging (WLCSP) products, known for their compact size, excellent heat dissipation, and impact resistance [2]. Financial Performance - For the first nine months of 2023, 2024, and 2025, Weizhao Semiconductor reported revenues of 575 million, 624 million, and 615 million CNY, respectively, with profits of 14 million, 19.35 million, and 40.25 million CNY [6]. - A significant portion of the company's revenue comes from its distribution network, with total sales to distributors amounting to 524 million, 507 million, and 527 million CNY for the same periods, representing 91.0%, 81.3%, and 85.7% of total revenue [6]. Market Position - The power semiconductor device industry in China is highly competitive, with the top ten players accounting for over half of the market share [4]. - Weizhao Semiconductor's products primarily target specific downstream customers in consumer electronics, automotive electronics, and industrial applications [5]. Investment and Financing - Prior to its IPO application, Weizhao Semiconductor engaged in multiple rounds of equity financing, attracting investments from notable entities such as OPPO Guangdong, Intel Asia Pacific, Yuanhe Puhua, and CATL [3].