智通财经APP获悉，9月12日，中国证监会公布《境外发行上市备案补充材料要求(2025年9月5日—2025 年9月11日)》。其中，证监会要求澜起科技(688008.SH)补充说明是否存在技术跨境转移等事项。据悉， 澜起科技已于2025年7月11日向港交所主板提交上市申请，中金公司、摩根士丹利、瑞银集团为联席保 荐人。 你公司部分子公司经营范围包含技术出口业务，请说明你公司及子公司最近三年技术出口业务的开展情 况及合规性，是否存在技术跨境转移。 证监会请澜起科技补充说明以下事项，请律师核查并出具明确的法律意见： 据招股书，澜起科技是一家全球领先的无晶圆厂集成电路设计公司，致力于为云计算及AI基础设施提 供创新、可靠及高能效的互连解决方案。根据弗若斯特沙利文的资料，按收入计算，澜起科技已成为全 球最大的内存互连芯片供应商，于2024年占据36.8%的市场份额。 ...

Group 1 - The China Securities Regulatory Commission (CSRC) has requested that Lianqi Technology (688008.SH) provide additional information regarding potential technology cross-border transfers as part of its listing application submitted to the Hong Kong Stock Exchange on July 11, 2025 [1][2] - Lianqi Technology is recognized as a global leader in the fabless integrated circuit design sector, focusing on innovative, reliable, and high-efficiency interconnect solutions for cloud computing and AI infrastructure [2] - According to Frost & Sullivan, Lianqi Technology has become the largest supplier of memory interconnect chips globally, holding a market share of 36.8% in 2024 based on revenue [2] Group 2 - The CSRC has specifically asked Lianqi Technology to clarify the status and compliance of its technology export business over the past three years, particularly concerning its subsidiaries that engage in technology export activities [2]

智通财经APP获悉，9月12日，中国证监会公布《境外发行上市备案补充材料要求(2025年9月5日—2025 年9月11日)》。其中，证监会要求澜起科技(688008.SH)补充说明是否存在技术跨境转移等事项。据悉， 澜起科技已于2025年7月11日向港交所主板提交上市申请，中金公司、摩根士丹利、瑞银集团为联席保 荐人。 据招股书，澜起科技是一家全球领先的无晶圆厂集成电路设计公司，致力于为云计算及AI基础设施提 供创新、可靠及高能效的互连解决方案。根据弗若斯特沙利文的资料，按收入计算，澜起科技已成为全 球最大的内存互连芯片供应商，于2024年占据36.8%的市场份额。 证监会请澜起科技补充说明以下事项，请律师核查并出具明确的法律意见： 你公司部分子公司经营范围包含技术出口业务，请说明你公司及子公司最近三年技术出口业务的开展情 况及合规性，是否存在技术跨境转移。 ...

Core Viewpoint - 澜起科技 is set to launch a non-deal roadshow for its Hong Kong listing on September 10, with an expected transaction size of approximately $1 billion, aiming to list on the Hong Kong Stock Exchange in Q4 of this year [1] Company Overview - 澜起科技 is a leading fabless integrated circuit design company focused on providing innovative, reliable, and high-efficiency interconnect solutions for cloud computing and AI infrastructure [1] - According to Frost & Sullivan, 澜起科技 has become the largest supplier of memory interconnect chips globally, holding a market share of 36.8% in 2024 based on revenue [1] Financial Performance - In 2024, 澜起科技 achieved a revenue of 3.639 billion yuan, representing a year-on-year growth of 59.2%, with a net profit of 1.412 billion yuan, up 213.1% year-on-year [1] - For Q1 2025, 澜起科技 reported a revenue of 1.222 billion yuan, reflecting a year-on-year increase of 65.78%, and a net profit of 525 million yuan, which is a 135.14% year-on-year growth [1]

Core Insights - The memory interconnect chip market is expected to grow from $768 million in 2020 to $1.168 billion by 2024, with a compound annual growth rate (CAGR) of 11.1% during this period, despite a decline in 2023 due to inventory adjustments in the server and computer industries [4][8][10] - China's memory interconnect chip market is projected to reach 1.66 billion yuan in 2024, accounting for approximately 20% of the global market, with a year-on-year growth exceeding 50% [12][10] - The industry is characterized by high technical barriers, leading to a concentrated market with the top three companies—Lanqi Technology, Renesas Electronics, and Rambus—holding 93.4% of the global market share, with Lanqi Technology leading at 36.8% [10][12] Market Overview - The global memory interconnect chip market is benefiting from continuous technological iterations and increasing penetration of AI servers, with growth expected in all years except 2023 [4][8] - The main products in the memory interconnect chip market include RCD/DB and module supporting chips, which are widely used in DDR4 and DDR5 memory modules, with RCD/DB expected to account for 59.5% of the market in 2024 [6][8] Industry Dynamics - The memory interconnect chip industry has significant technical barriers due to the complexity of product development, requiring deep technical expertise and long-term accumulation of intellectual property and design experience [10][12] - The industry follows JEDEC standards, and companies must engage in technical exchanges and collaborations with mainstream CPU, memory, server, and cloud computing manufacturers to establish a competitive edge [10] China's Market Position - China is becoming a significant player in the global AI and semiconductor sectors, with its memory interconnect chip market expected to continue expanding as downstream industries develop [12] - The market size for China's memory interconnect chips is projected to be 1.66 billion yuan in 2024, reflecting a strong growth trajectory [12] Product Development Trends - The transition from DDR4 to DDR5 memory technology is driving demand for memory interconnect chips, with DDR5 expected to dominate the market by 2024, accounting for over 50% of global server memory module shipments [17][19] - New high-bandwidth memory modules like MRDIMM are being developed to meet the increasing bandwidth demands of AI and high-performance computing applications, with significant improvements in data transfer rates expected [24][19] Application Areas - Memory interconnect chips are primarily used in server applications, with DDR5 technology providing higher speeds, lower power consumption, and increased capacity compared to DDR4 [16][19] - The PC market is also experiencing a shift towards AI PCs, with DDR5 memory modules expected to see increased demand as the market evolves [21][19]

Summary of Key Points Core Viewpoint - The Hong Kong IPO market is experiencing significant activity, with multiple companies filing for listings and a notable increase in market liquidity and new listings compared to the previous year [14]. Group 1: Company Filings - Three companies submitted applications for IPOs: 1. **Shenzhen Xingyuan Material Technology Co., Ltd.** specializes in lithium-ion battery separators and holds the largest market share in dry-process separators globally, with projected revenues of 2.867 billion, 2.982 billion, 3.506 billion, and 881 million RMB from 2022 to 2025 [2]. 2. **LXJ International Holdings Limited (Laoxiangji)** operates a fast-food chain with 1,564 stores across 55 cities, achieving revenues of approximately 4.528 billion, 5.651 billion, 6.288 billion, and 2.120 billion RMB from 2022 to 2025 [3][4]. 3. **Lianqi Technology Co., Ltd.** is a leading fabless integrated circuit design company, with revenues of approximately 3.672 billion, 2.286 billion, 3.639 billion, and 1.222 billion RMB from 2022 to 2025 [5]. Group 2: IPO Activity - No companies passed the hearing last week, but one company, **Shougang Longze**, is restarting its IPO process, planning to offer 20.1598 million H-shares at a price range of 14.5 to 18.88 HKD per share [6][7]. Group 3: New Listings - Six new stocks were listed last week, including: 1. **Fuwai Group**: Closed at 38.40 HKD with a gain of 1.05% [8]. 2. **Lens Technology**: Closed at 19.84 HKD with a gain of 9.13% [9]. 3. **Dazhong Oral**: Closed at 20.70 HKD with a gain of 3.50% [10]. 4. **Xunzhong Co.**: Closed at 13.58 HKD with a gain of 0.22% [11]. 5. **Jizhi Jia-W**: Closed at 17.70 HKD with a gain of 5.36% [12]. 6. **Fortior**: Closed at 139.80 HKD with a gain of 16.02% [13]. Group 4: Market Trends - The Hong Kong stock market has seen a significant improvement in liquidity, with an average daily trading volume of 240.2 billion HKD in the first half of 2025, a 118% increase from the previous year [14]. - The number of new listings increased to 44 in the first half of 2025, up 47% from the previous year, with total fundraising amounting to 107.1 billion HKD, a 699% increase [14].

Group 1: Company Performance - The company expects to achieve approximately 2.633 billion yuan in revenue for the first half of 2025, representing a year-on-year growth of about 58.17% [1] - The anticipated net profit attributable to shareholders is between 1.1 billion and 1.2 billion yuan, reflecting a year-on-year increase of 85.50% to 102.36% [1] - The growth is primarily driven by a significant increase in the shipment volume of DDR5 memory interface and module supporting chips, along with a substantial rise in sales revenue from three high-performance transport chips totaling 294 million yuan [1] Group 2: Market Position and Future Outlook - According to Frost & Sullivan, the company has become the largest memory interconnect chip supplier globally, holding a 36.8% market share in 2024 [2] - The memory interconnect chip market is projected to grow from 1.2 billion dollars in 2024 to 5 billion dollars by 2030, with a compound annual growth rate (CAGR) of 27.4% [2] - The PCIe and CXL interconnect chip market is expected to expand from 2.3 billion dollars in 2024 to 9.5 billion dollars by 2030, with a CAGR of 26.7% [2] - The chairman of the company highlighted that the rapid advancement of artificial intelligence technologies is driving a profound transformation in the industry, leading to significant growth in the AI server market [2]