如果您希望可以时常见面，欢迎标星收藏哦~ 来源：内容综合自网络 去年年底刚上市的英诺赛科(02577.HK)拟配股融资。 中信证券为独家整体协调人，中信证券、海通国际为其联席配售代理。 英诺赛科配售2070万股新H股，分别相当于经扩大已发行H股的3.9%及经扩大已发行股份总数的 2.3%。配售价为每股75.58港元，较英诺赛科上日(10月9日)收市价82.05港元折让7.9%，预计配售 所得款项总额为15.6亿港元。 是次配售所得款项净额为15.5亿港元，约31%的资金用于产能扩充及产品持续迭代升级、24%用于 偿还有息负债、45%作营运资金及一般公司用途。 英诺赛科于2024年12月30日再港交所挂牌上市，当时IPO募资14.51亿港元。 关于此次配售所得款项，英诺赛科划分了明确的用途： 约31%的资金（4.82亿港元，约合人民币4.42亿）用于产能扩充及产品持续迭代升级。英诺赛科计 划未来三年将持续扩充产能，以满足氮化镓功率器件市场指数级增长需求，并对产线进行改造，以 生产应用于车规、工业、数据中心领域的更高等级产品。 约24%的资金（3.76亿港元，约合人民币3.44亿）用于偿还有息负债。截至2025年 ...

Company Overview - InnoSilicon is a leading global manufacturer of Gallium Nitride (GaN) power semiconductors, operating under an Integrated Device Manufacturer (IDM) model. The company is the first in the world to achieve mass production of 8-inch silicon-based GaN wafers and is one of the few companies offering a full voltage range of GaN semiconductor products from 15V to 1200V. According to Frost & Sullivan, InnoSilicon ranked first in global GaN power semiconductor companies by revenue in 2023, with a market share of 33.7% [1][2][3]. Business, Products, and Technology Analysis Main Products - InnoSilicon's product line includes GaN wafers, GaN discrete devices, integrated chips, and modules. The GaN wafers are produced on an 8-inch GaN-on-Si production line, supporting high, medium, and low voltage requirements. The GaN discrete devices cover a voltage range of 15V-1200V, including GaN HEMT, catering to various application scenarios. The integrated chips, such as the ISG612XTD SolidGaN IC series, combine GaN devices, gate drivers, and multiple protection circuits, achieving low on-resistance and high switching frequency [1][2]. Technical Features - InnoSilicon has significant technical advantages, being the first to achieve large-scale production of 8-inch silicon-based GaN wafers, which offers notable efficiency and cost control compared to 4-inch and 6-inch lines. The company holds over 800 patents, and its products exhibit high reliability, low on-resistance, low gate charge, and compact packaging. The third-generation 700V enhanced GaN power device series is set to launch in 2025, featuring a 30% reduction in chip area and a 20-30% improvement in switching performance [2][3]. Production Capacity - InnoSilicon currently has a monthly production capacity of 13,000 8-inch GaN wafers, making it the largest production base for 8-inch GaN wafers globally. The company plans to increase this capacity to 20,000 wafers per month by the end of 2025, with a long-term goal of reaching 70,000 wafers per month [3]. Downstream Applications - InnoSilicon has established close partnerships with major smartphone manufacturers like OPPO, vivo, and Xiaomi, with its products used in mobile OVP and fast charging applications. In 2022, the company successfully integrated its 40V bidirectional VGaN™ chip into OPPO smartphones, marking a significant milestone. In the electric vehicle sector, CATL became InnoSilicon's largest customer in 2022, with sales reaching 190 million yuan in 2023. The company also collaborates with other EV manufacturers for automotive-grade products [3][4]. Industry Outlook - The global GaN power semiconductor market has rapidly grown from 139.4 million yuan in 2019 to 1,759.5 million yuan in 2023, with a compound annual growth rate (CAGR) of 88.5%. The market is expected to experience exponential growth, projected to reach 3,227.7 million yuan in 2024 and 50,141.9 million yuan by 2028, with a CAGR of 98.5%. Consumer electronics and electric vehicles are anticipated to be the two major application scenarios during this period [5]. Competitive Landscape - The global power semiconductor industry is highly concentrated, with the top ten companies holding a combined market share of 66.9%. InnoSilicon's revenue from GaN power semiconductor business reached 592.7 million yuan in 2023, ranking first globally with a market share of 33.7%. The top five companies collectively account for 92.8% of the market share, with InnoSilicon being a key player alongside competitors like Infineon, EPC, Navitas, and Power Integrations [8][10].