Core Viewpoint - Suzhou Naxin Microelectronics Co., Ltd. (Naxin) is undergoing a listing hearing on the Hong Kong Stock Exchange, with CICC, CITIC Securities, and Jianyin International as joint sponsors [1] Company Overview - Naxin operates on a fabless model, focusing on chip research and design while outsourcing wafer manufacturing and most packaging testing to third-party suppliers [3] - The company provides high-performance and reliable products and solutions in three main application areas: automotive electronics, general energy, and consumer electronics [3] - Naxin's product categories include sensors, signal chain chips, and power management chips, forming a complete system link from perception to signal processing and power supply [3] - According to Frost & Sullivan, Naxin ranks 14th among all analog chip companies in China with a market share of 0.9% and 5th among Chinese analog chip companies [3] Financial Performance - For the fiscal years ending June 30, Naxin reported revenues of approximately RMB 1.67 billion, RMB 1.31 billion, RMB 1.96 billion, and RMB 1.52 billion for 2022, 2023, 2024, and the first half of 2025, respectively [4] - The total comprehensive income for the same periods was approximately RMB 250 million, -RMB 305 million, -RMB 403 million, and -RMB 78 million [4] - The gross profit margins for these years were 48.5%, 33.9%, 28.0%, and 29.7%, respectively, indicating a decline in profitability [6] - Operating losses were reported at RMB 282 million for 2023 and RMB 381 million for 2024, with a projected loss of RMB 265 million for the first half of 2025 [6]

Core Viewpoint - Suzhou Naxin Microelectronics Co., Ltd. (Naxin) has passed the listing hearing on the Hong Kong Stock Exchange, with CICC, CITIC Securities, and Jianyin International as joint sponsors [1] Company Overview - Naxin operates under a fabless model, focusing on chip research and design while outsourcing wafer manufacturing and most packaging testing to third-party suppliers [3] - The company provides high-performance and reliable products and solutions in automotive electronics, energy, and consumer electronics, with a complete system link from sensing, signal processing to system power supply and drive [3] - According to Frost & Sullivan, Naxin ranks 14th among all analog chip companies in China with a market share of 0.9% and 5th among Chinese analog chip companies [3] Financial Performance - For the fiscal years ending June 30, 2022, 2023, 2024, and the first half of 2025, Naxin reported revenues of approximately RMB 1.67 billion, RMB 1.31 billion, RMB 1.96 billion, and RMB 1.52 billion respectively [4] - The total comprehensive income for the same periods was approximately RMB 250 million, -RMB 30.5 million, -RMB 40.4 million, and -RMB 7.56 million respectively [4] - The gross profit margin has shown a decline, with gross profits of RMB 810 million (48.5%), RMB 444 million (33.9%), RMB 549 million (28.0%), and RMB 500 million (32.9%) for the respective years [6]