Core Viewpoint - The company, Zhaoyi Innovation, is set to launch an initial public offering (IPO) of 28.916 million H-shares at a price of HKD 162 per share, with trading expected to commence on January 13, 2026 [2]. Group 1: Company Overview - Zhaoyi Innovation is a diversified integrated circuit design company that offers a variety of chip products including Flash, niche DRAM, microcontrollers (MCUs), analog chips, and sensor chips for various applications such as consumer electronics, automotive, industrial automation, energy storage, personal computers, servers, IoT, and network communications [2]. - The company operates on a fabless business model, focusing on integrated circuit design and R&D while outsourcing manufacturing to external foundries and semiconductor assembly and testing partners [2]. Group 2: Financial Performance - The company reported revenues of RMB 8.13 billion, RMB 5.7608 billion, RMB 7.356 billion, RMB 3.609 billion, and RMB 4.15 billion for the years 2022, 2023, 2024, and the six months ending June 30 for 2024 and 2025, respectively [3]. - Adjusted net profits (non-IFRS) for the same periods were RMB 2.256 billion, RMB 0.258 billion, RMB 1.26 billion, RMB 0.582 billion, and RMB 0.6725 billion, with adjusted net profit margins of 27.7%, 4.5%, 17.1%, 16.1%, and 16.2% [3]. Group 3: Use of Proceeds - Assuming an IPO price of HKD 147 per share, the estimated net proceeds from the global offering will be approximately HKD 4.1807 billion [4]. - The allocation of proceeds includes approximately 40% for enhancing R&D capabilities, 35% for strategic industry-related investments and acquisitions, 9% for global strategic expansion and strengthening global influence, 6% for improving operational efficiency, and 10% for working capital and other general corporate purposes [4].

Group 1 - The company, Zhaoyi Innovation, plans to globally offer 28.9158 million H-shares, with 10% allocated for Hong Kong and 90% for international sales, and an over-allotment option of 15% [1] - The expected offer price is HKD 162 per share, with trading on the Hong Kong Stock Exchange anticipated to begin on January 13, 2026 [1] - Zhaoyi Innovation is a diversified integrated circuit design company providing various chip products, including Flash, DRAM, microcontrollers, analog chips, and sensor chips for multiple applications [1] Group 2 - The company reported revenues of RMB 8.13 billion, RMB 5.7608 billion, RMB 7.356 billion, RMB 3.609 billion, and RMB 4.15 billion for the years 2022, 2023, 2024, and the first half of 2024 and 2025, respectively [2] - Adjusted net profits for the same periods were RMB 2.256 billion, RMB 258 million, RMB 1.26 billion, RMB 582 million, and RMB 672.5 million, with adjusted net profit margins of 27.7%, 4.5%, 17.1%, 16.1%, and 16.2% [2] - The company has entered cornerstone investment agreements with several investors, agreeing to subscribe for shares totaling approximately USD 299.7 million under certain conditions [2] Group 3 - Assuming an offer price of HKD 147 per share, the estimated net proceeds from the global offering will be approximately HKD 4.1807 billion [3] - About 40% of the proceeds will be used to enhance research and development capabilities, 35% for strategic industry-related investments and acquisitions, 9% for global strategic expansion, 6% for improving operational efficiency, and 10% for working capital and other general corporate purposes [3]