Core Viewpoint - Recent IPO progress has been observed for several companies from Wuhan, including Juxin Microelectronics, which has submitted its prospectus to the Hong Kong Stock Exchange and is backed by major investors like Xiaomi and Huawei [1][4]. Company Overview - Juxin Microelectronics, founded in January 2016, specializes in intelligent perception, machine vision, and imaging technology solutions, operating under a fabless model. The company has raised over 1.1 billion RMB and has a post-investment valuation of approximately 5.3 billion RMB as of June 2025 [4][7]. - The company has a diverse product matrix covering 11 product lines, with 8 products already commercialized and 3 in the design phase [7]. Financial Performance - Revenue growth has been noted, with figures of 127.4 million RMB in 2022, 242.0 million RMB in 2023, and projected revenues of 666.6 million RMB in 2024 [12][14]. - The net profit has shown improvement, transitioning from a loss of 137.2 million RMB in 2022 to a projected profit of 2.1 million RMB in the first half of 2025 [12][14]. - The gross margin has declined from 27.6% in 2022 to 23.3% in the first half of 2025, primarily due to decreasing average selling prices across product lines [16]. Market Position - Juxin Microelectronics holds significant market shares in various segments, ranking third in the global optical sensor market with an 11.2% share, and also ranks third in the global smart audio amplifier market with an 8.3% share [29]. - The company faces intense competition from domestic and international manufacturers, with a noted decline in average selling prices for its main products [2][29]. Product and Technology - The company’s main revenue source is from intelligent perception products, which accounted for 97.3% of total revenue in 2022, although this percentage is projected to decrease to 78.7% by the first half of 2025 [14]. - The product lines include optical sensing, smart audio, and vibration sensing, with significant shipment volumes reported for each category [8][12]. Research and Development - As of June 2025, Juxin Microelectronics has a research and development team comprising 175 employees, representing 60.1% of the total workforce, with R&D expenditures of approximately 99.7 million RMB in 2022 [18]. Customer Base and Supply Chain - The company’s customer base primarily consists of direct sales clients and distributors in the smartphone and electronic device sectors, with a high concentration of revenue from the top five customers [19][20]. - The procurement strategy relies heavily on a few suppliers, with over 90% of purchases coming from the top five suppliers, indicating potential supply chain risks [18].

Core Viewpoint - Wuhan Juxin Microelectronics Co., Ltd. (Juxin Micro) has submitted its listing application to the Hong Kong Stock Exchange, aiming to capitalize on its rapid growth in the optical sensor market, where it ranks third globally and first in mainland China [1][2]. Financial Performance - Juxin Micro's revenue is projected to grow from approximately 127 million RMB in 2022 to 667 million RMB in 2024, showcasing strong growth momentum [1][2][13]. - The company is expected to achieve a net profit of approximately 9.73 million RMB in 2024, marking a turnaround from losses in previous years [1][2][15]. - For the first half of 2025, Juxin Micro anticipates a revenue of 400 million RMB, reflecting a year-on-year growth of 53.85% [2][15]. Product Lines and Market Position - Juxin Micro's product lines include smart perception, machine vision, and imaging technology, with smart perception accounting for 86% of revenue in 2024 [5][11]. - The company has achieved significant market share, with 11.2% in the optical sensor sector, 8.3% in smart audio amplifiers, and 4.1% in vibration sensing [5][7]. - Juxin Micro's optical sensing products are expected to see explosive growth, with revenues projected to reach approximately 300 million RMB in 2024 [13]. Shareholder Structure and Financing - Notable shareholders include OPPO, Huawei, Xiaomi, and ByteDance, indicating strong ties with leading consumer electronics brands [2][10]. - Juxin Micro has completed ten rounds of financing since its establishment, with a post-financing valuation of 5.31 billion RMB as of June 2025 [8][10]. Market Trends and Growth Drivers - The global smart perception chip market is in a growth phase, with a projected compound annual growth rate (CAGR) of 7.3% from 2024 to 2029 [17][20]. - The demand for optical sensors and smart audio products is expected to grow significantly, driven by the proliferation of smart devices and consumer demand for enhanced perception capabilities [17][20]. Competitive Landscape - Juxin Micro operates in a highly competitive environment, with significant market shares held by foreign companies in various product lines, highlighting the potential for domestic market share growth through localization [20][21]. - The company’s reliance on a limited number of major customers and suppliers poses a risk, as revenue from the top five customers accounted for 99.7% in 2022, though this has decreased over time [21][22].

Core Viewpoint - Wuhan Juxin Microelectronics Co., Ltd. (Juxin Micro) has submitted its listing application to the Hong Kong Stock Exchange, aiming to capitalize on its rapid growth in the optical sensor market, where it ranks third globally and first in mainland China [1][2]. Financial Performance - Juxin Micro's revenue is projected to grow from approximately 127 million RMB in 2022 to 667 million RMB in 2024, showcasing strong growth momentum [1][12]. - The company is expected to achieve a net profit of approximately 9.73 million RMB in 2024, marking a turnaround from losses in previous years [1][12]. - For the first half of 2025, Juxin Micro's revenue is anticipated to reach 400 million RMB, reflecting a year-on-year growth of 53.85% [2][15]. Product Lines and Market Position - Juxin Micro's product lines include intelligent perception, machine vision, and imaging technology, with intelligent perception accounting for 86% of revenue in 2024 [5][12]. - The company has achieved significant market share, with 11.2% in the optical sensor sector, 8.3% in smart audio amplifiers, and 4.1% in vibration sensing [5][7]. - Juxin Micro's optical sensing products are expected to see explosive growth, with revenues projected to increase from 11,000 RMB in 2022 to 300 million RMB in 2024 [13][20]. Shareholder Structure and Financing - Notable shareholders include OPPO, Huawei, Xiaomi, and ByteDance, indicating strong ties with leading consumer electronics brands [2][10]. - Juxin Micro has completed ten rounds of financing since its establishment, with a post-financing valuation of 5.31 billion RMB as of June 2025 [8][10]. Market Trends and Growth Drivers - The global smart perception chip market is in a growth phase, with a projected compound annual growth rate (CAGR) of 7.3% from 2024 to 2029 [17][20]. - The demand for optical sensors and smart audio products is expected to grow significantly, driven by the proliferation of new smart devices and consumer demand for enhanced sensing capabilities [17][20]. - Juxin Micro's strategic focus on product diversification and technological innovation positions it well to benefit from the ongoing trend of domestic substitution in the semiconductor industry [11][21]. Competitive Landscape - The optical sensor market is characterized by high foreign market concentration, with leading companies holding significant market shares, indicating a potential opportunity for Juxin Micro to capture market share through domestic production [20][21]. - Juxin Micro's reliance on a limited number of major customers and suppliers poses a risk, as revenue from the top five customers accounted for 99.7% in 2022, though this percentage is decreasing [22].

Core Viewpoint - Wuhan Juxin Microelectronics Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange, with Haitong International and CITIC Securities acting as joint sponsors [1][3]. Company Overview - Juxin Microelectronics is a leading provider of intelligent perception, machine vision, and imaging technology solutions, focusing on the integration of high-performance mixed-signal chips and optimized algorithms to empower smart devices [3][4]. - The company's technology centers around three core areas: intelligent perception, machine vision, and imaging technology, providing critical drivers for high-growth scenarios such as robotics, IoT, mobile smart devices, digital twins, and automotive electronics [3][4]. Product Development - Juxin Microelectronics has developed a comprehensive range of intelligent perception products that integrate optical sensing, smart audio, and vibration sensing technologies with proprietary intelligent algorithms [4][6]. - The intelligent perception solutions aim to enhance human-machine interaction by achieving low-power, low-latency, and privacy-protecting interactions between sensors and actuators [4][6]. Machine Vision Solutions - The company offers extensive machine vision solutions that enable smart devices to have spatial perception and visual understanding capabilities, utilizing active optical detection and multispectral sensing technologies [6]. - Key products include 3D iToF and 3D dToF image sensors, which allow users to perceive three-dimensional image information and obtain depth data of objects, showcasing the company's leadership in the field [6]. Financial Performance - For the fiscal years 2022, 2023, and projected figures for 2024 and 2025, Juxin Microelectronics reported revenues of approximately RMB 127.4 million, RMB 242.0 million, RMB 666.6 million, and RMB 400.2 million respectively [7]. - The company experienced net losses of approximately RMB 137.2 million in 2022, RMB 110.1 million in 2023, but is projected to achieve a profit of RMB 9.7 million in 2024 and RMB 20.7 million in 2025 [7].

Core Viewpoint - Wuhan Juxin Microelectronics Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange, with Haitong International and CITIC Securities as joint sponsors [1][3]. Company Overview - Juxin Microelectronics is a leading provider of intelligent perception, machine vision, and imaging technology solutions, focusing on high-performance mixed-signal chips and optimized algorithms to empower smart devices [3][4]. - The company aims to enhance interaction efficiency and imaging experience across high-growth scenarios such as robotics, IoT, mobile smart devices, digital twins, and automotive electronics [3][4]. Product Development - Juxin Microelectronics has developed a comprehensive range of intelligent perception products that integrate optical sensing, smart audio, and vibration sensing technologies with proprietary algorithms [4]. - The company's solutions aim to improve human-machine interaction through low-power, low-latency, and privacy-protecting interactions [4]. Machine Vision Solutions - The company offers extensive machine vision solutions that enable smart devices to have spatial awareness and visual understanding capabilities [6]. - Key products include 3D iToF and 3D dToF image sensors, which allow users to perceive three-dimensional image information and obtain depth data [6]. Financial Performance - For the fiscal years 2022, 2023, and projected figures for 2024 and 2025, Juxin Microelectronics reported revenues of approximately CNY 127.4 million, CNY 242.0 million, and CNY 666.6 million, respectively [6][7]. - The company experienced net losses of approximately CNY 137.3 million in 2022, CNY 110.1 million in 2023, and is projected to achieve a profit of CNY 9.7 million in 2024 [6][7].

Core Viewpoint - Wuhan Juxin Microelectronics Co., Ltd. has completed a D++ round of financing with undisclosed amounts, attracting investments from various institutions including OPPO and several venture capital firms [1][2]. Financing Details - The financing round is categorized as D++ and includes multiple investors such as OPPO, Zhongwang Investment, and others, although specific transaction amounts remain undisclosed [1][2]. - Previous financing rounds include D+ round on February 27, 2024, and D round on January 23, 2022, with the latter raising hundreds of millions of RMB [2]. Company Overview - Wuhan Juxin Microelectronics is an innovative high-tech company focused on high-performance analog and mixed-signal chip design [2][3]. - The company has two main product lines: 3D optics and smart audio, with its smart audio amplifier recognized for its differentiated products and excellent cost-performance ratio [3]. Product Applications - The Time-of-Flight (ToF) sensor, utilizing leading back-illuminated (BSI) technology, offers high precision, small pixel size, high resolution, low power consumption, and full integration [3]. - The sensor is applicable in various fields such as artificial intelligence, facial recognition, autonomous driving, AR/VR, 3D modeling, motion capture, and machine vision, indicating a promising commercial outlook in mainstream markets like mobile phones, security, and automotive [3].