近期，又有一家半导体公司向港交所发起了冲击。 格隆汇获悉，长春长光辰芯微电子股份有限公司（简称"长光辰芯"）于12月19日向港交所递交了招股书，由中信证 券、国泰海通担任保荐人。 此前公司曾于2025年6月首次递表，但因招股书满6个月失效而重新提交。 两年前，公司还曾尝试在A股上市。2023年6月，长光辰芯向上交所科创板递交了上市申请，并经历过问询，但是在 2025年1月突然宣布终止。 招股书称，主要是考虑到A股上市审核流程较长、整体市场情绪、以及全球化的战略定位调整等因素，公司自愿撤回 了A股上市申请。 01 浙江大学学霸夫妇携手闯关IPO，高瓴裕润、奥普光电参投 长光辰芯成立于2012年9月，2022年12月改制为股份有限公司，总部位于吉林省长春市经济技术开发区。 公司可提供九大产品系列及50余款标准产品，公司的产品在提高工业相机、科学相机、专业电影摄影机的性能和成像 质量方面，发挥着重要的作用。 在2022年6月10日的股权转让中，公司的估值为100亿元。此前在A股IPO阶段，监管层曾对这一估值的合理性做出过问 询。 长光辰芯是一家CMOS图像传感器(CIS)提供商，以无晶圆厂模式营运。 公司成立时，分 ...

近期，又有一家半导体公司向港交所发起了冲击。 格隆汇获悉，长春长光辰芯微电子股份有限公司（简称"长光辰芯"）于12月19日向港交所递交了招股书，由中信证 券、国泰海通担任保荐人。 公司成立时，分别由奥普光电(002338.SZ)、王欣洋博士及凌云光持股50%、30%及20%。 奥普光电仅作为投资者，自公司成立以来无意获得公司的控股权或参与日常业务营运。奥普光电至今持股25.56%，是 最大的外部股东。 截至2025年12月11日，王欣洋与张艳霞夫妇、珠海云辰、珠海旭辰、珠海鹏辰、珠海曦辰、珠海星辰及杭州祺芯共同 构成一组控股股东，合计有权行使公司49.53%的投票权。 此前公司曾于2025年6月首次递表，但因招股书满6个月失效而重新提交。 两年前，公司还曾尝试在A股上市。2023年6月，长光辰芯向上交所科创板递交了上市申请，并经历过问询，但是在 2025年1月突然宣布终止。 招股书称，主要是考虑到A股上市审核流程较长、整体市场情绪、以及全球化的战略定位调整等因素，公司自愿撤回 了A股上市申请。 01 浙江大学学霸夫妇携手闯关IPO，高瓴裕润、奥普光电参投 长光辰芯成立于2012年9月，2022年12月改制为股 ...

Investment Rating - The report maintains a "Buy" rating for OmniVision Technologies (豪威集团) due to its advantageous position in mobile terminals, automotive, and emerging markets, with expectations of further market share growth through new product introductions by 2025 [2]. Core Insights - The global CMOS image sensor market is expected to rebound in 2024, achieving a market size of $23 billion, reflecting a year-on-year growth of 6.4%. This recovery indicates a new phase of structural differentiation and sustained growth in the industry [2][4]. - The growth drivers for the industry are shifting from mobile terminals, which still contribute over 60% of revenue, to automotive applications driven by the acceleration of ADAS penetration and the emergence of new applications such as smart glasses and machine vision [2][3]. - The competitive landscape is characterized by strategic differentiation and consolidation, with technology leaders like Sony pushing performance boundaries through large pixels and advanced stacking processes, while scale manufacturers like Samsung and agile Chinese competitors drive high-resolution revolutions with cost-effective solutions [2][3]. Market Dynamics - The mobile terminal CMOS image sensor market is stabilizing, with growth primarily driven by an increase in average selling prices as consumers shift towards high-end models and generative AI smartphones. Despite a moderate growth forecast for device shipments, the average number of cameras per device is expected to remain stable [3][12]. - The automotive CMOS image sensor market is projected to maintain double-digit growth from 2025 to 2027, driven by increased camera penetration per vehicle due to ADAS, in-cabin monitoring, and ongoing resolution upgrades [3][25]. - Emerging applications such as smart glasses and machine vision are opening new growth avenues, requiring specialized sensors with ultra-low power consumption, miniaturization, and global shutter technology, providing high-value growth directions for technology-leading companies [3][31]. Competitive Landscape - Sony leads the market with nearly 50% share, further increasing its share by 1 percentage point in 2024, showcasing its technological advantages in mobile terminal CMOS image sensors and growth in the automotive sector [7][11]. - Samsung holds the second position, leveraging its IDM model and focusing on high-resolution, small pixel technology, while also re-entering the Apple supply chain, marking a significant strategic breakthrough [11][30]. - OmniVision ranks third with an 11% market share, experiencing a 23.5% year-on-year revenue growth in 2024 across all business lines, particularly in mobile terminals and automotive applications [11][30]. - Other notable competitors include GalaxyCore and SmartSens, with significant growth in their respective markets, driven by competitive pricing and technological advancements [6][11].

Core Insights - The CMOS image sensor (CIS) market is expected to experience strong growth in 2024, driven by the rebound in smartphone demand and needs in security, defense, aerospace, and consumer electronics. Revenue is projected to grow by 6.4% in 2024, following a 2.3% increase in 2023, with a compound annual growth rate (CAGR) of 4.4% from 2024 to 2030 [1][4]. Market Trends - The market volume is anticipated to rise from 7 billion units to 9 billion units by 2030, with mobile, security, and automotive applications being the primary growth drivers [1]. - The average selling price (ASP) remains stable above $3, supported by high-end features in mobile and automotive sectors [1]. - Wafer production is expected to grow by 8.9% in 2024, with a steady increase projected until 2030 [1]. Competitive Landscape - Chinese company Smartsens leads the market with a significant year-on-year growth of 105.7%, expanding into mobile and automotive sectors. Sony's market share has also increased by nearly 50%, while SK Hynix has reduced its focus on CIS, concentrating on memory products [4]. - Companies like ON Semiconductor, Teledyne, and STMicroelectronics have seen revenue declines due to slowdowns in industrial and medical markets, as well as reduced design orders in consumer electronics [4]. - Despite trade tensions, the CIS sector remains resilient due to the adoption of mature nodes, with domestic demand and government support bolstering production in China [4]. Technological Innovations - The CIS industry is evolving through innovations that enhance performance, integration, and sensing capabilities, including higher signal-to-noise ratios, improved low-light sensitivity, compact designs, and lower power consumption [7]. - Sony's three-layer stacked sensors are being adopted in mainstream smartphones, marking a shift towards intelligent sensing rather than just resolution [7]. - Advances in 22nm logic stacking technology aim for ultra-low power consumption and expanded computational capabilities, with FDSOI technology expected to be utilized for neuromorphic sensing [7]. Future Projections - By 2030, global CIS wafer capacity is projected to meet demand with a capacity of 638k wpm and a utilization rate of 72% [4]. - The industry is witnessing a transition towards multi-stacking architectures, with BSI (Backside Illumination) technology leading the way [8].

Summary of Key Points Core Viewpoint The article provides an overview of the recent activities in the Hong Kong stock market, highlighting the number of companies that have submitted applications for listing, those that have passed the hearing, and details about their financial performance and market positions. Group 1: New Applications - A total of 19 companies submitted applications to the Hong Kong Stock Exchange from June 16 to June 22 [3] - New Hope Group (600803.SH) is the largest private natural gas company in China, with a market share of approximately 6.1% in 2024 [3] - Wolong Technology (002130.SZ) is the second-largest high-speed copper cable manufacturer globally, holding a 24.9% market share [4] - Beijing Geekplus Technology Co., Ltd. is the largest provider of AMR solutions globally, maintaining its leading position for six consecutive years [5] - Banu International Holdings is the largest hot pot brand in China by revenue, with a market share of 3.1% [6] - Hope Sea Inc. is the largest comprehensive electronic product import supply chain solution provider in China, with an import GMV of approximately RMB 34.8 billion in 2024 [7] - Guangzhou Shiyuan Electronic Technology Co., Ltd. ranks first in the Chinese market for interactive smart panels with a 25.0% market share [8] - Anmai Biotechnology Co., Ltd. ranks second globally in T-cell connector therapy, with total transaction values exceeding USD 2.1 billion [9] - Beijing Haizhi Technology Group focuses on industrial-grade AI solutions, ranking fifth in the Chinese market [10] - Suzhou Jiyi Technology Co., Ltd. ranks second in digital retail operations in China [11] - Drip Irrigation International Investment Co., Ltd. is the first global exchange group based on revenue-sharing models [12] - Zhaowei Electromechanical (003021.SZ) provides integrated micro-drive systems, with revenues projected to grow [13] - Meige Intelligent (002881.SZ) ranks fourth globally in wireless communication modules, holding a 6.4% market share [14] - Yuxin Technology (300674.SZ) is a leading fintech solution provider in China, with significant market shares in various sectors [15] - Shanghai Zhuoyue Ruixin Digital Technology Co., Ltd. ranks second in the digital education market for higher education in China [16] - Zhaoyi Innovation (603986.SH) is the second-largest NOR Flash provider globally, with an 18.5% market share [17] - Changchun Changguang Chenxin Microelectronics Co., Ltd. specializes in high-performance CMOS image sensors [18] - Weichai Lovol Smart Agriculture Technology Co., Ltd. is a leading provider of smart agricultural solutions in China [19] - PPIO is an independent distributed cloud computing service provider [20] - Xiangkang Holdings is a major technical apparel manufacturer for high-end brands [22] Group 2: Companies Passing Hearings - Four companies passed the listing hearing this week, including Fuwai Group, which is a pan-Asian life insurance company with projected insurance revenue growth [24] - Fengcai Technology focuses on chip design for BLDC motor control, ranking sixth in the Chinese market [25] - Xunzhong Communication Technology Co., Ltd. is the third-largest cloud communication service provider in China [26] - Cloudbreak Pharma Inc. is a clinical-stage ophthalmic biotech company with two core products [27] Group 3: Recent IPOs - Haitan Flavor Industry (03288.HK) raised approximately HKD 10.1 billion in its IPO, with a slight decline in stock price post-listing [28] - Sanhua Intelligent (02050.HK) had a strong subscription rate for its IPO [29] - Baize Medical (02609.HK) and other companies also reported significant subscription rates for their IPOs [30][31][32][33]