Core Viewpoint - The article highlights the growth and potential of Shenzhen Nanfeng Microelectronics Co., Ltd., emphasizing its strong R&D capabilities, extensive product offerings, and strategic positioning in the semiconductor industry, particularly in the field of network interconnection chips. Group 1: Company Overview - Shenzhen Nanfeng Microelectronics was established on November 13, 2015, with a registered capital of 41.407 million yuan [2] - The company is headquartered in Shenzhen and focuses on the design, production, and sales of Ethernet data exchange, smart network cards, PHY, and PCIe Switch chips and modules [1][2] - The controlling shareholder is Zeng Yu, who directly holds 17.82% of the shares and has significant influence over the company through various partnerships, controlling a total of 48.92% of voting rights [2][6] Group 2: Market Position and Development - Nanfeng Microelectronics has established a nationwide presence with R&D and sales centers in major cities, including Shenzhen, Beijing, Shanghai, Chengdu, and Changzhou, creating a comprehensive service network [3] - The company has a strong talent pool, with nearly 400 employees, of which over 85% are in R&D, supporting its innovation capabilities [3] - The company has received multiple industry recognitions, including being named a "Little Giant" enterprise by the Ministry of Industry and Information Technology in July 2024, and recognized as a "Gazelle Enterprise" and "Potential Unicorn Enterprise" in Shenzhen in July 2025 [4] Group 3: Product and Technology - Nanfeng Microelectronics has launched numerous core products, including switching chips, PHY chips, network card chips, and PCIe Switch chips, while also developing high-end interconnection chips to meet AI demands [4] - The company has seen steady growth in product shipments, with over 5 million LAN-Switch network switching chips, over 1 million mid-range switching chips, and over 400,000 high-end switching chips shipped annually [4] - Its products are widely used in critical sectors such as telecommunications, energy, transportation, and commercial markets, gaining recognition from leading domestic ICT and cloud service providers [4] Group 4: Financial and Investment - Nanfeng Microelectronics has completed multiple rounds of financing, attracting investments from notable institutions, with a C+ round investment from Hengdian Capital in December 2025 aimed at AI interconnection chip development [6] - The company is focused on strengthening its R&D and market expansion as it progresses towards an IPO, aiming to enhance the development of domestic network interconnection chips [6]

融资历程方面，工商信息显示，楠菲微共经历8轮融资，该公司最近一期于2025年9月完成的C轮融资总 金额超10亿元。投资方包括芜湖信沪创业投资合伙企业（有限合伙）、深圳羲和隆顺投资合伙企业（有 限合伙）、深圳市菲菱楠芯投资合伙企业（有限合伙）。 目前，公司控股股东曾雨直接持有公司17.82%股份，并通过深圳市楠菲技术咨询合伙企业（有限合 伙）、三亚市鹏远创芯科技合伙企业（有限合伙）、成都风云智行信息技术咨询合伙企业（有限合伙） 间接控制公司12.25%的股份表决权，同时基于与王克非、杨玖红、张磊、张鹤颖、成都市楠菲技术咨 询合伙企业（有限合伙）的一致行动关系可以支配公司 18.84%的股份表决权；曾雨及其控制主体以及 其一致行动人合计可以控制公司 48.92%的股份表决权，整体控制权稳固，为公司长期战略的有效落地 提供了坚实的治理基础。 此次启动上市辅导，楠菲微电子目标在于借助资本市场的资源配置功能，加码研发投入，增强关键核心 技术攻坚能力，同时扩大产能规模、优化产品结构，持续提升综合竞争实力。上市后，公司计划进一步 在技术研发、产能扩张、市场拓展等方面加大布局，力争进入更高质量的发展阶段。 作为国产半导体链条 ...

Core Viewpoint - Shenzhen Nanfei Microelectronics Co., Ltd. has submitted an IPO counseling record to the Shenzhen Securities Regulatory Bureau, with CITIC Securities as the counseling broker, indicating its intention to go public [1]. Company Overview - Nanfei Micro was established on November 13, 2015, with a registered capital of 414 million yuan. The legal representative is Zeng Yu [2]. - The company primarily engages in the design, production, sales, and service of Ethernet data exchange, smart network cards, PHY, and PCIe Switch chips and modules [2]. Shareholding Structure - The controlling shareholder, Zeng Yu, directly holds 17.82% of the shares and indirectly controls 12.25% of the voting rights through partnerships. Together with other parties, he can control 48.92% of the voting rights [5]. - The shareholder list includes several state-owned capital entities, with specific holdings such as 6.0613% by Shenzhen Zhongxuhongtu Investment Partnership [5]. Product Development and Market Position - Nanfei Micro has established R&D and operational sales centers in multiple cities, employing nearly 400 people, with over 85% in R&D roles [3]. - The company has achieved mass production of various chips, including gigabit/10-gigabit industrial Ethernet SOC switch chips and PCIe Switch chips. In 2023, the annual shipment of mid-range switch chips exceeded 1 million units [3][4]. - The company focuses on high-speed interconnect technology for supernode systems, which is critical for AI computing, and is developing products compatible with the UALink standard [4]. Recent Financing Activities - Nanfei Micro has completed eight rounds of financing, with the latest C round in September 2025 raising over 1 billion yuan. The funds will be used for R&D and to supplement working capital [6]. - The company has attracted significant investment from various state-owned and industrial capital sources, including the Guangdong Semiconductor and Integrated Circuit Industry Investment Fund [6]. Recent Developments - In December 2025, a public announcement indicated that Feiling Kesi plans to indirectly invest in Nanfei Micro through a partnership, contributing 40.8 million yuan [7]. - By January 2026, the partnership completed the private fund registration and signed agreements for capital increase, with a total investment of 119 million yuan, representing 1.8195% of Nanfei Micro's registered capital [8].