Group 1: Company Overview - Both Xiamen Youxun Chip Co., Ltd. and Beijing Angrui Microelectronics Technology Co., Ltd. successfully passed the IPO review on October 15, 2025 [1] - Angrui Micro specializes in RF and analog integrated circuit design, recognized as a national-level "little giant" enterprise [2] - Youxun focuses on optical communication front-end transceiver chips, recognized as a national champion in the manufacturing sector [4] Group 2: Angrui Micro's Business and Performance - Angrui Micro's products include RF front-end chips and RF SoC chips, with significant sales to major brands like Honor, Samsung, and Xiaomi [2] - The company has participated in six national-level major scientific research projects, contributing to the advancement of China's RF field [2] - Angrui Micro's revenue for 2024 is projected at 2.101 billion yuan, with RF front-end revenue at 1.790 billion yuan [3] - The company has not yet achieved profitability, reporting revenues of 1.695 billion yuan in 2023 and a net loss of 450 million yuan [3] Group 3: Youxun's Business and Market Position - Youxun's optical communication chips are critical components in optical modules, impacting the performance and reliability of communication systems [4] - The company holds the number one market share in China and the second globally for products with speeds of 10Gbps and below [4] - Youxun's revenue for 2023 is reported at 313 million yuan, with a net profit of 72.08 million yuan [5] Group 4: Market Dynamics and Future Prospects - The domestic optical communication chip market is characterized by low self-sufficiency in the 25G and above segment, with only 7% market share held by Chinese manufacturers [5] - Both companies are seeking to raise funds through their IPOs to enhance R&D and production capabilities in their respective fields [3][5]