Core Viewpoint - The Hong Kong Stock Exchange reported that during the week from October 13 to October 19, 9 companies submitted listing applications, 5 companies passed the hearing, 4 companies launched their IPOs, and 2 new stocks were listed [1]. Group 1: Companies Submitted Listing Applications - Hantian Technology (Xiamen) Co., Ltd. is a leader in the global silicon carbide (SiC) epitaxy industry, focusing on the R&D, mass production, and sales of SiC epitaxy chips, with a projected market share of over 30% in 2024 [2]. - Impression Co., Ltd. is a state-owned cultural tourism service enterprise, ranking eighth in China's cultural tourism performance market in 2024, with revenues of approximately 63.04 million yuan in 2022 [3]. - Guangzhou Yujian Noodle Restaurant Co., Ltd. is the fourth largest operator of Chinese noodle restaurants in China, with a market share of 0.5% in 2024 [4]. - Baishan Cloud Holdings Ltd. is the second largest independent edge cloud service provider in China, with a market share of approximately 2.0% in 2024 [5][6]. - Shouchuang Securities Co., Ltd. is a financial service provider with a strong asset management capability, ranking fifth in revenue growth among 42 A-share listed securities companies from 2022 to 2024 [7]. - Chongqing Qianli Technology Co., Ltd. focuses on AI and mobility solutions, with stable growth in automotive products [8]. - Nanjing Qingtian All Tax Information Technology Co., Ltd. is a leading digital service provider for cross-border enterprises, ranking first in the smart tax solution market in China with a market share of 1.7% in 2024 [9]. - Lakala Payment Co., Ltd. is a leading digital payment provider in Asia, with a market share of 9.4% in 2024 [10]. - Sichuan Xin Hehua Traditional Chinese Medicine Co., Ltd. is one of the largest suppliers of traditional Chinese medicine products in China, ranking second in the market with a 0.4% market share in 2024 [12]. Group 2: Companies Passed Hearing - Seres Group Co., Ltd. focuses on the research, manufacturing, and sales of new energy vehicles, achieving revenues of approximately 340.56 billion yuan in 2022 [13]. - Minglue Technology is a leading data intelligence application software company in China, with revenues of approximately 12.69 billion yuan in 2022 [14]. - Pony AI Inc. specializes in autonomous driving services, with a total operational area exceeding 2000 square kilometers [15]. - Ningbo Joyson Electronic Corp. is a global leader in smart automotive technology solutions, ranking second in China and fourth globally in smart cockpit domain control systems [16][17]. - WeRide Inc. is a pioneer in L4 autonomous driving, with operations in over 30 cities across 11 countries [18]. Group 3: Companies Launched IPOs - Yunji Technology launched its IPO with a subscription that was oversubscribed by 5677 times, raising approximately 189.1 billion HKD [19]. - Haixi New Drug's IPO was delayed for regulatory approval, with a price range of 69.88-86.40 HKD per share [20]. - Jushuitan's IPO was set at 30.60 HKD per share, with a total of 681.66 million shares offered [21]. - Guanghetong's IPO was priced between 19.88-21.5 HKD per share, with a total of approximately 135 million shares offered [21]. Group 4: Newly Listed Stocks - Xuan Bamboo Biotechnology was listed on October 15, 2025, with a closing price of 26.30 HKD per share, reflecting a gain of 126.72% [22]. - Yunji was listed on October 16, 2025, with a closing price of 120.5 HKD per share, reflecting a gain of 26.05% [24].

Core Viewpoint - Hantian Technology is seeking to go public on the Hong Kong Stock Exchange after previously withdrawing its application for the Sci-Tech Innovation Board, highlighting its position as the world's largest supplier of silicon carbide (SiC) epitaxial wafers and its significant market potential in the growing electric vehicle and renewable energy sectors [2][5][9]. Company Overview - Hantian Technology, founded in 2011 by Zhao Jianhui, specializes in the research, production, and sales of silicon carbide epitaxial wafers, achieving over 30% market share in 2024 [5][9]. - The company is the first globally to achieve mass production of 8-inch silicon carbide epitaxial wafers and is the only Chinese company to provide a full range of commercialized 3-inch, 4-inch, 6-inch, and 8-inch silicon carbide epitaxial wafers [5][6]. Financial Performance - Hantian Technology's revenue for 2024 is projected at 974 million yuan, with a net profit of 166 million yuan, and a last round valuation of 26 billion yuan [2][9]. - The company reported revenues of 441 million yuan, 1.143 billion yuan, 974 million yuan, and 266 million yuan for the years 2022 to 2024 and the first five months of 2025, respectively [9]. - The transition from loss to profit is attributed to the significant increase in market demand for silicon carbide epitaxial products, particularly driven by the electric vehicle sector [9]. Market Position and Trends - Hantian Technology leads the global market for silicon carbide epitaxial wafers, with a reported sale of over 164,000 wafers in 2024 and a cumulative delivery of over 500,000 wafers from 2022 to May 2025 [6][9]. - The company has established itself as a key player in the silicon carbide epitaxy foundry market, which is expected to grow significantly as more power device manufacturers prefer outsourcing to third-party foundries [6][9]. Clientele and Applications - Hantian Technology's clients include four of the top five global silicon carbide power device manufacturers and seven of the top ten, indicating strong demand across various industrial applications such as electric vehicles, charging infrastructure, renewable energy, and emerging technologies [7][9]. - The company's products are utilized in a wide range of applications, including household appliances, AI computing, data centers, smart grids, and electric vertical takeoff and landing (eVTOL) aircraft [7]. Ownership and Investment - Zhao Jianhui, the founder and chairman, holds 28.85% of the company, making him the largest shareholder [11]. - Notable investors include Huawei and China Resources Microelectronics, with significant investments leading to a valuation increase of 16 times for some stakeholders [10][12][13].

Core Viewpoint - Hantian Technology (Xiamen) Co., Ltd. has submitted a new listing application to the Hong Kong Stock Exchange, aiming to capitalize on its leading position in the silicon carbide (SiC) wafer market, with a significant market share projected for 2024 [3]. Company Overview - Hantian Technology is recognized as the world's first mass producer of 8-inch silicon carbide epitaxial wafers and the first in China to achieve commercial supply of 3-inch, 4-inch, 6-inch, and 8-inch SiC epitaxial wafers [3]. - According to a report by Zhaoshang Consulting, Hantian Technology is the largest supplier of silicon carbide epitaxial wafers globally since 2023, with a market share exceeding 30% in 2024 [3]. Financial Performance - For the fiscal years ending December 31, 2022, and 2023, Hantian Technology reported revenues of approximately RMB 440.69 million and RMB 1.14 billion, respectively [4]. - The company’s net profit for the same periods was approximately RMB 143.37 million and RMB 121.89 million [4]. - In the first five months of 2025, the company experienced a revenue decline of 30.18% and a profit decline of 33.09% compared to the previous year [5]. Shareholding Structure - Prior to the IPO, the founder, Dr. Zhao Jianhui, holds a 28.85% stake in Hantian Technology, while Huawei's subsidiary, Hubble Technology, holds a 4.03% stake [6].

Core Viewpoint - Hantian Technology has submitted a listing application to the Hong Kong Stock Exchange, with CICC as the sole sponsor [1] Group 1: Company Overview - Hantian Technology is the world's first mass producer of 8-inch silicon carbide (SiC) epitaxial chips and the first in China to achieve mass supply of 3, 4, 6, and 8-inch SiC epitaxial chips [1] - As of 2023, Hantian Technology is the largest SiC epitaxial supplier globally by sales volume, with a market share exceeding 30% projected for 2024 [1] - The company has sold over 164,000 SiC epitaxial chips cumulatively by 2024, with total deliveries exceeding 500,000 chips during the historical performance period [1] Group 2: Industry Leadership - Hantian Technology leads the global SiC epitaxial industry and has established the first and only SEMI industry standard for SiC epitaxy [1] - The company's customer base includes 4 out of the top 5 global SiC power device giants and 7 out of the top 10 power device companies [1] Group 3: Application Areas - SiC epitaxial chips are applicable in a wide range of sectors, including electric vehicles, charging infrastructure, renewable energy, energy storage, home appliances, AI computing, data centers, smart grids, and eVTOL [1]

Core Viewpoint - Hantian Technology (Xiamen) Co., Ltd. has submitted a new listing application to the Hong Kong Stock Exchange, with CICC as the sole sponsor. The company is a leader in the silicon carbide (SiC) epitaxy industry and has achieved significant milestones in the mass production of SiC epitaxy chips [1][4]. Group 1: Company Overview - Hantian Technology is the world's first manufacturer to achieve mass production of 8-inch silicon carbide epitaxy chips and is the first in China to commercialize 3-inch, 4-inch, 6-inch, and 8-inch SiC epitaxy chips [1]. - The company is recognized as the largest supplier of silicon carbide epitaxy chips globally, with a market share exceeding 30% in 2024 [4]. - Hantian Technology has established the first and only international industry standard for silicon carbide epitaxy through the Semiconductor Equipment and Materials International (SEMI) association [9]. Group 2: Market Position and Clientele - The company has a broad and loyal customer base, serving 123 clients, including 4 out of the top 5 global silicon carbide power device manufacturers and 7 out of the top 10 [9]. - The applications of Hantian Technology's SiC epitaxy chips include electric vehicles, charging infrastructure, renewable energy, energy storage systems, and emerging applications such as home appliances, AI computing, data centers, smart grids, and eVTOL [9]. Group 3: Financial Performance - The revenue figures for Hantian Technology are as follows: approximately 441 million RMB in 2022, 1.144 billion RMB in 2023, 974 million RMB in 2024, and 266 million RMB for the first five months of 2025 [10][11]. - The profit figures for the same periods are approximately 143 million RMB, 122 million RMB, 166 million RMB, and 14 million RMB respectively [10][11]. - The company has experienced significant growth in revenue, with a notable increase in sales volume of SiC epitaxy chips, totaling over 164,000 chips sold in 2024 and over 500,000 chips delivered during the historical record period [9][10].

Core Viewpoint - Hantian Technology (Xiamen) Co., Ltd. has submitted a new listing application to the Hong Kong Stock Exchange, with CICC as the sole sponsor, marking its continued efforts to enter the public market as a leading manufacturer of silicon carbide (SiC) epitaxial chips [1][5]. Company Overview - Hantian Technology is recognized as the world's first mass producer of 8-inch silicon carbide epitaxial chips and the first in China to achieve commercial supply of 3-inch, 4-inch, 6-inch, and 8-inch silicon carbide epitaxial chips [1]. - The company is the largest supplier of silicon carbide epitaxial wafers globally, with a market share exceeding 30% in 2024 [5]. Market Position - Hantian Technology has established itself as a leader in the silicon carbide epitaxial industry, having sold over 164,000 silicon carbide epitaxial chips through its sales and foundry model in 2024, and cumulatively over 500,000 chips during the reporting period [10]. - The company serves a broad and loyal customer base, including four of the top five silicon carbide power device manufacturers and seven of the top ten globally [10]. Financial Performance - The company's revenue for the fiscal years ending May 31 are as follows: approximately 441 million RMB in 2022, 1.144 billion RMB in 2023, 974 million RMB in 2024, and 266 million RMB in the first five months of 2025 [11][12]. - The net profit figures for the same periods are approximately 143 million RMB, 122 million RMB, 166 million RMB, and 14 million RMB respectively [11]. Industry Trends - The silicon carbide epitaxial foundry market is expected to see significant growth, with the top five foundries projected to capture 93.4% of the global market share in 2024, indicating a trend where power device giants prefer to collaborate with third-party foundries rather than producing in-house [11].