Core Viewpoint - Angrui Microelectronics has officially launched its IPO process on the Sci-Tech Innovation Board, aiming to raise funds for the development of RF front-end chips and SoC chips, aligning with national strategic needs and market opportunities [1][4]. Company Overview - Angrui Microelectronics is a national-level "little giant" enterprise focused on integrated circuit design in the RF and analog fields, primarily engaged in the R&D, design, and sales of RF front-end chips and RF SoC chips [1][2]. - The company has achieved a compound annual growth rate (CAGR) of over 50% in revenue over the past three years, with projected revenue nearing 2.1 billion yuan in 2024, indicating strong operational capabilities [1][2]. Technological Advancements - The company's 5G high-integration module technologies have reached a leading position domestically and are internationally advanced, successfully breaking the monopoly of international manufacturers in the 5G L-PAMiD module market [2]. - Angrui Microelectronics plans to enhance its R&D investment in high-integration modules and emerging applications such as satellite and vehicle wireless communication, contributing to the independent innovation of China's RF front-end chip industry [2]. Funding Utilization - The funds raised from the IPO will be allocated to projects focused on the R&D and industrialization of 5G RF front-end chips and modules, RF SoC development, and the construction of headquarters and R&D centers, aligning with the company's core business and national industrial policies [2]. Strategic Goals - The company aims to become a world-class chip company in the RF and analog fields by accumulating key technologies, enhancing talent reserves, and expanding product customer bases, addressing critical areas in national strategic development [2].

Group 1 - Angrui Micro and Youxun Co., Ltd. successfully passed the IPO review on October 15, 2023, as key "little giant" enterprises in the national specialized and innovative sector [1] - Angrui Micro's IPO application was accepted on March 28, 2023, while Youxun's was accepted on June 26, 2023 [1] - Angrui Micro focuses on RF and analog integrated circuit design, achieving domestic leadership and international advanced levels in 5G high-integration module technology [4] Group 2 - Youxun Co., Ltd. is recognized as a national-level manufacturing champion in the optical communication field, specializing in the research, design, and sales of optical communication front-end transceiver chips [4] - The company has established a complete core technology system in optical communication chip design, achieving breakthroughs in key areas such as transceiver integration and high-speed modulation [4] - During the IPO review, Youxun faced questions regarding the sustainability of its operating performance and potential risks related to declining gross margins [3][4]