【#两大芯片龙头中签率公布#】12月7日，沐曦股份和昂瑞微均发布了在科创板上市网上发行申购情况 及中签率公告。 昂瑞微公告显示，本次网上发行有效申购户数为512.92万户，有效申购数量为173.14亿股，网上发行初 步中签率为0.02299243%。因网上发行初步有效申购倍数约为4349.26倍，超过100倍，决定启动回拨机 制，将199.10万股从网下回拨到网上。回拨后，网下最终发行1393.43万股，占扣除最终战略配售数量后 发行总量的70%；网上最终发行数量为597.20万股，占扣除最终战略配售数量后发行总量的30%，网上 发行最终中签率为0.03449153%。 昂瑞微本次科创板IPO发行股份数量为2488.29万股，全部为公开发行新股，发行价格为83.06元/股，预 计募集资金总额为20.67亿元，将用于5G射频前端芯片及模组研发和产业化升级项目、射频SoC研发及 产业化升级项目、总部基地及研发中心建设项目。（每经综合，德塔） 111 222 200 :02 :42 e On(Tiloto er InMiara 63 @每日经济新闻 昂瑞微与沐曦股份均为近期科创板申购的半导体企业，分别聚焦射频前端芯 ...

昂瑞微公告称，公司首次公开发行股票并在科创板上市申请已获上交所上市委审议通过及中国证监会同 意注册。本次发行2488.2922万股新股，占发行后总股本比例25%，每股发行价83.06元，募集资金总额 20.67亿元，净额19.32亿元，将用于5G射频前端芯片及模组研发等项目。发行费用概算1.34亿元。此 外，公司高管、员工及保荐人子公司参与战略配售，限售期分别为12个月和24个月。 ...

Core Viewpoint - Beijing Angrui Microelectronics Technology Co., Ltd. has successfully registered its IPO on the Sci-Tech Innovation Board, marking a significant step in its growth strategy [1] Company Overview - Angrui Micro specializes in the research, design, and sales of RF front-end chips, RF SoC chips, and other analog chips [1] IPO Details - The IPO application was accepted on March 28, 2025, entered the inquiry stage on April 15, 2025, and was approved on October 15, 2025, with registration submitted on the same day [1] - The company aims to raise approximately 2.067 billion yuan through this IPO [1] Fund Utilization - After deducting issuance costs, the raised funds will be allocated to the following projects: - R&D and industrialization of 5G RF front-end chips and modules - R&D and industrialization of RF SoC chips - Construction of headquarters and R&D center [1]

Core Viewpoint - Beijing Angrui Microelectronics Technology Co., Ltd. has received approval for its IPO application on the Sci-Tech Innovation Board, focusing on RF and analog integrated circuit design, with significant contributions to China's RF field and product development [1][2]. Group 1: Company Overview - Angrui Micro was established in 2012 and specializes in the research, design, and sales of RF front-end chips, RF SoC chips, and other analog chips [1]. - The company has led or participated in six national and multiple local major scientific research projects, contributing to foundational research and industrial application in the RF field [1]. Group 2: IPO Details - The company plans to publicly issue no more than 24.8829 million shares, raising approximately 2.067 billion RMB [2]. - The raised funds will be allocated as follows: 1.096 billion RMB for 5G RF front-end chip and module R&D and industrial upgrades, 408 million RMB for RF SoC R&D and upgrades, and 563 million RMB for headquarters and R&D center construction [2]. Group 3: Financial Performance - Angrui Micro has been operating at a loss since 2022, with total revenues of 923 million RMB in 2022, projected to reach 2.101 billion RMB in 2024, and 844 million RMB in the first half of 2025 [2]. - The net profits for the same periods are -290 million RMB, -450 million RMB, -64.7092 million RMB, and -40.2995 million RMB, respectively, with cumulative unremedied losses of 1.279 billion RMB by mid-2025 [2]. Group 4: Customer Concentration and Shareholding Structure - The company has a high customer concentration, with the top five customers accounting for 70.44%, 75.84%, 69.52%, and 59.07% of total revenue during the reporting periods [3]. - Major customer A's purchasing amounts were 43.8984 million RMB, 626 million RMB, 707 million RMB, and 169 million RMB, with a year-on-year decline in the first half of 2025 [3]. - The shareholding structure shows that Beijing Xinke holds 9.12%, Nanjing Tongxin 7.28%, Nanjing Chuangxin 7.01%, and Nanjing Ruida 5.97%, with the chairman controlling 21.95% of voting rights directly and 38.91% indirectly [3].

Core Points - The Shanghai Stock Exchange's listing review committee approved Beijing Angrui Microelectronics Technology Co., Ltd. for its initial public offering (IPO), marking the 59th company approved this year [1] - Angrui Micro is focused on integrated circuit design in the RF and analog fields, primarily engaged in the research, design, and sales of RF front-end chips, RF SoC chips, and other analog chips [1][2] - The company plans to raise approximately 206.73 million yuan for projects related to 5G RF front-end chip and module R&D, RF SoC R&D, and the construction of its headquarters and R&D center [2] Company Structure - The company's shareholding is relatively dispersed, with no single shareholder holding more than 30% of voting rights, leading to the conclusion that there is no controlling shareholder [2] - The actual controller, Qian Yongxue, holds 3.8578% of the shares directly and controls 62.4309% of the voting rights through various mechanisms [2] Industry Context - The approval of Angrui Micro's IPO reflects ongoing activity in the Chinese capital markets, with a total of 35 companies approved by the Shanghai and Shenzhen stock exchanges and 24 by the Beijing Stock Exchange this year [1] - The company is positioned within a competitive landscape that includes significant technological advancements and evolving product structures in the semiconductor industry [3]

Core Viewpoint - The article highlights the significant advancements made by a Chinese company, Angrui Microelectronics, in the field of 5G RF front-end chips, marking a breakthrough in a market previously dominated by international giants. The company is on the verge of an IPO, which will further empower its growth and innovation capabilities [1][2][9]. Group 1: Company Overview - Angrui Microelectronics has developed the 5G L-PAMiD module, which has been integrated into flagship smartphones from top global brands like Samsung, Huawei, and Xiaomi, showcasing its technological prowess [1][3]. - The company is preparing for an IPO on the Sci-Tech Innovation Board, aiming to raise 2.067 billion yuan for R&D and industrial upgrades [2][9]. Group 2: Technological Breakthroughs - The L-PAMiD module is considered the "crown jewel" of RF front-end chips, crucial for communication quality and device performance, and has been historically monopolized by companies like Skyworks and Qorvo [3][9]. - Angrui Microelectronics achieved mass production of L-PAMiD products in 2023, breaking the international monopoly and positioning itself as a leader in the domestic market [3][9]. Group 3: Market Performance - The company's revenue is projected to grow from 922 million yuan in 2022 to 2.101 billion yuan in 2024, reflecting a compound annual growth rate of 50.88% [5][9]. - The revenue from L-PAMiD products is expected to reach 381 million yuan in 2024, accounting for 42.26% of the total revenue from 5G PA and modules, indicating strong market competitiveness [3][5]. Group 4: Diversification and Future Growth - Angrui Microelectronics is expanding into emerging fields such as automotive communication, satellite communication, and the Internet of Things (IoT), establishing a diversified business layout [6][9]. - The company has already achieved significant milestones in automotive communication and satellite communication, with a market share exceeding 30% in domestic satellite communication PA [6][9]. Group 5: R&D Commitment - The company has invested 980 million yuan in R&D from 2022 to 2024, representing 20.77% of its total revenue during the same period, emphasizing the importance of innovation in maintaining competitive advantage [8][9]. - Angrui Microelectronics has led or participated in several national-level research projects, contributing to advancements in RF technology and its applications [8][9]. Group 6: Industry Context - The global RF front-end market is dominated by foreign companies, with domestic manufacturers holding less than 15% market share, indicating significant potential for domestic alternatives [9]. - With the increasing penetration of 5G and the growth of IoT applications, the demand for RF front-end chips is expected to rise, providing a favorable market environment for Angrui Microelectronics [9].

Core Viewpoint - The Shanghai Stock Exchange will hold a listing review meeting on October 15, 2025, to discuss the initial public offering (IPO) of Beijing Angrui Microelectronics Technology Co., Ltd. (Angrui Micro) [1] Company Summary - Angrui Micro plans to raise 206,730.14 million yuan through its IPO on the Sci-Tech Innovation Board, with funds allocated for the development and industrialization of 5G RF front-end chips and modules, RF SoC development and industrialization, and the construction of its headquarters and R&D center [1] - The company's equity is relatively dispersed, with no single shareholder holding more than 30% of voting rights, indicating no controlling shareholder. The actual controller is Qian Yongxue, who directly holds 3.8578% of shares and controls 62.4309% of voting rights through various mechanisms [2] - The sponsor for Angrui Micro's IPO is CITIC Securities Co., Ltd., with representatives Zhang Yue and Wang Jiafu [2]

Core Viewpoint - Beijing Angrui Microelectronics Technology Co., Ltd. is progressing with its IPO on the Sci-Tech Innovation Board, having recently responded to the first round of inquiry letters from the Shanghai Stock Exchange [1] Financial Performance - The company reported projected revenues of approximately 0.923 billion, 1.695 billion, and 2.101 billion yuan for the years 2022, 2023, and 2024 respectively [1] - Corresponding net profits are expected to be around -0.29 billion, -0.45 billion, and -0.0647092 billion yuan for the same years [1] IPO Details - Angrui Micro plans to raise approximately 2.067 billion yuan through the IPO, which will be allocated to projects including the development and industrialization of 5G RF front-end chips and modules, RF SoC development, and the construction of its headquarters and R&D center [1] Regulatory Inquiry - The first round of inquiry letters raised questions regarding the company's products, market position, and sustainability of operations [1]