Core Viewpoint - Nanjing Qingqin Heng Microelectronics Co., Ltd. (referred to as "Qingheng Micro") has released its prospectus for an initial public offering on the Sci-Tech Innovation Board, highlighting its unique approach to integrated circuit design through self-developed IP systems and a focus on core technology research [1][2]. Financial Performance - Qingheng Micro's revenue is projected to grow from 238.26 million yuan in 2022 to 396.80 million yuan in 2024, with net profit increasing from 59.10 million yuan to 103.99 million yuan during the same period [1]. - The company has maintained profitability while many in the industry face losses due to intense competition [1]. Product Overview - The main business of Qingheng Micro includes the research, design, and sales of interface chips and interconnected MCU chips, which are essential for information exchange and connectivity in electronic devices [3][4]. - The company focuses on USB, Bluetooth, and Ethernet interfaces, with USB being its primary revenue source, accounting for 52.38% of total revenue in 2024 [8]. Technology and Innovation - Qingheng Micro has developed a proprietary IP system that includes processor, PHY, controller, and protocol stack technologies, allowing for a more integrated and efficient chip design process [4][17]. - The company’s self-developed "Qingke" series of processors has shipped over 100 million units, demonstrating competitive performance against mainstream foreign processors [6][12]. Market Applications - The primary application areas for Qingheng Micro's products include industrial control and connectivity (52.60% of revenue), IoT networking (25.54%), and computer and mobile peripherals (21.86%) [15]. - The company’s products are designed to meet the growing demand for connectivity and digitalization in various sectors [9][20]. Future Plans and Funding - Qingheng Micro plans to raise funds through its IPO to invest in three key projects: USB chip development, network chip development (including Bluetooth and Ethernet), and full-stack MCU chip development, with a total investment of approximately 931.54 million yuan [28][29]. - The company aims to enhance its core technology and expand its product offerings in high-speed USB, Ethernet, and low-power wireless communication technologies [29][30].

6月30日，上交所正式受理了南京沁恒微电子股份有限公司（简称：沁恒微）科创板IPO申请。 沁恒微专注于连接技术和微处理器研究，是 一家基于自研专业接口IP、内核IP构建一体化芯片的集成 电路设计企业。报告期内，公司主营业务为接口芯片和互连型MCU芯片的研发、设计与销售。 此次IPO，沁恒微拟募资9.32亿元，投建于USB芯片研发及产业化项目、网络芯片研发及产业化项目、 全栈MCU芯片研发及产业化项目。 公司主要产品包括接口芯片和互连型MCU芯片，其中接口芯片是电子设备信息交换、互连互通的窗 口；互连型MCU将处理器技术与连接技术深度融合，是自带信息交换窗口的数据处理中心。上述产品 侧重于连接、联网和控制，主要应用于工业控制与连接、物联组网和互联、计算机及手机周边等领域。 沁恒微表示，上述项目与公司主营业务有着密切关联，未来上市后，公司将继续深耕主业，在连接技术 和微处理器内核上加大研发投入与创新力度，推出更具市场竞争力的接口芯片和互连型MCU芯片产 品。具体而言，上述项目将以公司现有技术积累为基础，开展超高速 USB4、USB 3.x、高速率以太网 和低功耗高性能无线通信等连接技术IP，以及高性能、扩充AI运 ...