Core Viewpoint - Anhui Xingu Microelectronics Co., Ltd. has officially initiated its IPO process, aiming to leverage capital market resources to enhance R&D investment and expand production capacity in the defense and military microwave chip sector [1][7]. Group 1: Company Overview - Anhui Xingu specializes in the design, production, and sales of semiconductor microwave and millimeter-wave chips, microwave modules, and T/R components, utilizing GaAs and GaN semiconductor processes [3][4]. - The company has maintained a high growth rate, with revenues increasing from 64 million to 149 million yuan from 2020 to 2022, reflecting a compound annual growth rate of 52% [4]. - The net profit has also shown steady growth, rising from 37 million to 58 million yuan during the same period, with gross margins consistently above 79%, indicating strong technical barriers and market competitiveness [4]. Group 2: R&D and Product Development - Xingu Micro has established a comprehensive core product system in the microwave and millimeter-wave integrated circuit chip field, focusing on independent innovation [5]. - The company has developed a range of products, including ultra-wideband low-noise amplifiers, high-power GaN chips, and various microwave components, demonstrating its capability from chip design to component production [5]. Group 3: IPO and Future Prospects - The company previously submitted an IPO application in May 2023, seeking to raise 850 million yuan, but withdrew the application in April 2024 [2]. - With the new IPO process underway, Xingu Micro is expected to strengthen its competitive advantage in the military microwave chip sector and contribute to the development of China's compound semiconductor industry [7].