1月13日，红星冷链、BBSB INTL以及兆易创新这3只新股正式登陆港股市场。 在这3家公司中，兆易创新是又一起大型A股公司赴港上市的案例，兆易创新本次上市首日涨幅高达37.53%，但目前AH溢价仍高达31.53%。 | 222.800 | | 200.328(CNY) 460,800 +37,53% | | | | | 北昌创新 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | 3986 | | HKEX HKD 16:08:16 闭市 | | | | | | | 10+ | | A(603986) | | 263.50[=0.64%) A/H :+31.53% | | 参注 | | · 120日 | | | 空比 | 75.28% 空姿 | | 2.687 | 5日 | | - 250日 | | | 发五 | 223,600 | 100 ( | 1) | 20 B | | - 52周高 | 248.80 | | | 223,400 | | | 60 B | | - 52周任 | 220.00 | | 爱西 | | . ...

1月13日，红星冷链、BBSB INTL以及兆易创新（603986）这3只新股正式登陆港股市场。 两家公司"跳水" 在本次上市的3家公司中，红星冷链以及BBSB INTL首日股价出现明显的"跳水"。其中BBSB INTL开盘涨幅一度达到400%，但最终收盘涨幅仅为11.67%； 红星冷链开盘一度涨近60%，尾盘却一度破发，但最终还是收红，涨幅为0.33%。 | 序号 | 代码 | 名称 | 相对发行价涨跌幅 | | | --- | --- | --- | --- | --- | | | | | 开盘涨跌幅(%) 首日收盘涨跌幅(%) | | | | 1641.HK | 红星冷链 | 59.71 | 0.33 | | 2 | 8610.HK | BBSB INTL | 400.00 | 11.67 | | 3 | 3986.HK | : 兆易创新 | 45.06 | 37.53 | 值得注意的是，BBSB INTL并非中国公司。招股书显示，公司为一家于马来西亚拥有超过16年经验的土木工程承包商，专门为马来西亚政府或政府关联 公司拥有或启动的大型交通基础建设工程作为承包商提供桥梁工程服务。2024年，以桥梁工程营 ...

Core Viewpoint - The article highlights the growth and strategic positioning of Zhaoyi Innovation, a leading domestic storage chip company in China, as it transitions from a niche player to a comprehensive semiconductor platform through its upcoming "A+H" listing and diverse product offerings [1][11]. Group 1: Company Overview - Zhaoyi Innovation plans to list on the Hong Kong Stock Exchange, aiming for a dual capital platform strategy [1]. - The company is projected to sell 4.362 billion chips and generate revenue of 7.356 billion yuan in 2024, with a cumulative revenue exceeding 21.2 billion yuan from 2022 to 2024 [2]. Group 2: Product Segments - Zhaoyi Innovation ranks second globally and first domestically in NOR Flash, sixth globally and first domestically in SLC NAND Flash, seventh globally and second domestically in niche DRAM, and eighth globally and first domestically in MCU [4]. - The company has developed a comprehensive product matrix covering NOR Flash, SLC NAND Flash, niche DRAM, MCU, and sensor chips [1]. Group 3: Market Position and Strategy - The company has established a distribution network covering over 40 countries, with the top five customers being distributors, accounting for 33.3% of sales [7]. - Zhaoyi Innovation's supply chain strategy includes a dual cooperation model with suppliers, where the top five suppliers account for over 70% of procurement [7]. Group 4: Technological Advancements - Zhaoyi Innovation is the first global manufacturer to mass-produce RISC-V core 32-bit MCUs, with a market share of 1.2% in 2024, ranking first among domestic manufacturers [5]. - The company has a strong focus on R&D, with a total investment exceeding 3.4 billion yuan and a projected R&D expense of 1.122 billion yuan in 2024, representing 15.3% of revenue [2][10]. Group 5: Future Growth and Market Trends - The company aims to leverage the growing demand for edge computing and AI, with plans to use IPO proceeds for advanced process R&D and automotive-grade product certification [11]. - Zhaoyi Innovation's automotive electronics revenue is expected to increase from 5% in 2022 to 12% in 2024, with NOR Flash entering the supply chains of major automotive manufacturers [12].