在AI时代下，智能显示芯片与智能感控芯片正成为市场需求的香喷喷，然而全球最大的ASIC scaler芯片 提供商，曦华科技却不到四年累亏超4.6亿元。 双业务组合战略，盈利改善明显 曦华科技成立于2018年，提供独立芯片，及提供将专有芯片与基础软件、开发套件及关键算法集于一体 的全面解决方案，该公司技术解决方案基于"MCU+感知╱显示"架构，截止2025年9月，拥有17款芯片 型号的2大产品线组合，通过直销或分销模式向汽车及消费电子等行业输出产品服务。 该公司有两大业务，分别是智能显示芯片及解决方案，主要产品AI Scaler及STDI芯片；及智能感控芯 片及解决方案，主要产品TMCU、通用MCU、触控芯片及智能座舱解决方案。前者为核心收入，但后 者发展迅速，近几年收入结构变化明显，2025年前9月收入份额分别为85.6%及14.4%。 | | | | 截至12月31日止年度 | | | | 截至9月30日止九個月 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 2022年 | | 2023年 | | 2024年 ...

招股书显示，曦华科技是一家端侧AI芯片与解决方案提供商。公司的智能显示芯片及解决方案主要有AIScaler及STDI芯片；而智能感控芯片及解决方案主要 有TMCU、通用MCU、触控芯片及智能座舱解决方案。公司的产品已获多家主流汽车OEM及全球知名消费电子品牌采用，已量产的芯片产品组合可以满足 客户在消费电子、汽车行业及具身智能等新兴市场的不同需求。 智通财经APP获悉，据港交所12月3日披露，深圳曦华科技股份有限公司(简称：曦华科技)递表港交所主板，农银国际为其独家保荐人。 曦华科技拥有业界领先的研发能力、成熟的量产经验以及尖端技术实力，在图像与视频处理、感知、SoC设计及车规产品开发等技术领域有深厚积淀。公司 依托显示、感知及控制方向的端侧AI优势技术，赋能全球智能设备创新。 Scaler芯片是广泛应用于智能手机显示屏及汽车座舱显示屏的图像处理芯片。根据弗若斯特沙利文报告，曦华科技研发了全球首款ASIC架构的scaler，即 AIScaler，在视觉无损压缩、画质增强及高速接口传输方面掌握关键技术。从智能手机屏应用市场战略性切入，公司AIScaler的市场份额快速增长，目前已 成为全球龙头产品。于2024年 ...

香港聯合交易所有限公司及證券及期貨事務監察委員會對本申請版本的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示概不就因本申請版本全部或任何部分內容而產生 或依賴該等內容而引致的任何損失承擔任何責任。 SHENZHEN CVA INNOVATION CO., LTD.* 深圳曦華科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 的申請版本 警 告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）及證券及期貨事務監察委員會（「證監會」） 的要求而刊發，僅用作提供資料予香港公眾人士。 本 申 請 版 本 為 草 擬 本，其 內 所 載 資 料 並 不 完 整，亦 可 能 會 作 出 重 大 變 動。 閣 下 閱 覽 本 文 件， 即代表 閣 下 知 悉、接 納 並 向 深 圳 曦 華 科 技 股 份 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本 集 團」）、其獨家保薦人、整體協調人、顧問及包銷團成員表示同意： 於本公司招股章程根據香港法例第32章公司（清盤及雜項條文）條例送呈香港公司註冊處處長登 記前，不會向香港公眾人士提出要約或邀請。倘於適當時候向香港公眾人士提 ...

Core Points - Hengshuo Co., Ltd. (688416.SH) closed at 57.11 yuan, experiencing a decline of 5.46%, currently in a broken state [1] - The company was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on August 29, 2022, with an issuance of 20.66 million new shares, accounting for 25% of the total post-issuance shares, at a price of 65.11 yuan per share [1] - The total amount raised by Hengshuo was 1.345 billion yuan, with a net amount of 1.209 billion yuan after deducting issuance costs, exceeding the original planned fundraising by 455.76 million yuan [1] - The original fundraising plan was 753.88 million yuan, intended for projects including "NOR Flash Memory Chip Upgrade R&D and Industrialization," "General MCU Chip Upgrade R&D and Industrialization," "CiNOR Integrated AI Inference Chip R&D Project," and "Development and Technology Reserve Project" [1] Financial Details - The total issuance costs for Hengshuo amounted to 135.53 million yuan, with Guoyuan Securities receiving underwriting and sponsorship fees of 109.21 million yuan [2] - Guoyuan Innovation Investment Co., Ltd., a subsidiary of the sponsoring institution, was allocated 826,400 shares, representing 4% of the total issuance, with an allocation amount of 53.81 million yuan, subject to a 24-month lock-up period [2] Ownership Structure - The controlling shareholders and actual controllers of Hengshuo are Xiang Dong Lu (American nationality) and Lü Yinan (Chinese nationality) [3]

Core Viewpoint - Hengshuo Co., Ltd. reported a decline in revenue and net profit for the first half of 2025, indicating ongoing financial challenges for the company [1][3]. Financial Performance - The company's operating revenue for the first half of 2025 was 174.28 million yuan, a decrease of 1.79% compared to the same period last year [1][3]. - The net profit attributable to shareholders was -70.78 million yuan, showing a continued loss [1][3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -77.26 million yuan, also reflecting a loss [1][3]. - The net cash flow from operating activities was 40.38 million yuan, a significant improvement from -89.03 million yuan in the previous year [1][3]. Company Background - Hengshuo Co., Ltd. was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on August 29, 2022, with an initial public offering of 20.66 million shares at a price of 65.11 yuan per share [4]. - The total amount raised from the IPO was 1.35 billion yuan, with a net amount of approximately 1.21 billion yuan after deducting issuance costs [4]. - The company originally planned to raise 753.88 million yuan for various R&D projects, including NOR flash memory chip upgrades and AI inference chip development [4].

Core Viewpoint - Hengshuo Co., Ltd. (688416.SH) is currently experiencing a decline in stock price, closing at 44.30 yuan with a drop of 4.85%, indicating a state of underperformance since its IPO [1] Group 1: Company Overview - Hengshuo Co., Ltd. was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on August 29, 2022, with an initial public offering (IPO) of 20.66 million shares, representing 25% of the total shares post-issue [1] - The IPO price was set at 65.11 yuan per share, raising a total of 1.345 billion yuan (134,517.26 million yuan) [1] - After deducting issuance costs, the net proceeds amounted to approximately 1.210 billion yuan (120,964.04 million yuan), exceeding the original fundraising target by 455.76 million yuan [1] Group 2: Fund Utilization - The funds raised are intended for several projects, including the upgrade and industrialization of NOR flash memory chips, general MCU chip upgrades, the development of CiNOR integrated AI inference chips, and technology reserve projects [1] - The total issuance costs were 135.53 million yuan, with the lead underwriter, Guoyuan Securities, receiving 109.21 million yuan in underwriting and sponsorship fees [1] Group 3: Shareholder Information - The controlling shareholders and actual controllers of Hengshuo Co., Ltd. are Xiang Dong Lu (American nationality) and Lü Yi Nan (Chinese nationality) [2]