Core Viewpoint - Shanghai Yixin Communication Technology Co., Ltd. has submitted its prospectus to the Hong Kong Stock Exchange, aiming for an IPO with CITIC Securities as the sponsor [2]. Company Overview - Established in February 2017, Yixin Communication is a leading global provider of cellular communication chips, featuring a highly optimized engine for communication via LTE/5G networks [3]. - According to a report by Frost & Sullivan, Yixin Communication ranks first in China and third globally in the cellular communication chip industry by shipment volume. Its NB-IoT products hold the global leading position with a market share of 38.4%, while its Cat.1bis products rank second globally with a market share of 22.7% [3]. Financial Performance - For the fiscal years ending December 31 and the six months ending June 30, Yixin Communication's revenue and profit figures are as follows: - 2022: Revenue of approximately 410 million RMB, loss of 98.04 million RMB - 2023: Revenue of approximately 533 million RMB, loss of 159 million RMB - 2024: Revenue of approximately 552 million RMB, profit of 12.39 million RMB - 2025 (first half): Revenue of approximately 337 million RMB, profit of 16.85 million RMB [4]. Shareholding Structure - Before the IPO, Liu Shi directly holds about 16.23% of the company's issued shares, while other significant shareholders include Ai Gen Zhi (8.71%) and Ai Gen Ji Hui (7.85%). The largest shareholder group controls approximately 32.79% of the voting rights [6]. Board of Directors - The board of Yixin Communication consists of seven directors, including four executive directors and three independent non-executive directors. Liu Shi serves as the chairman, executive director, and general manager, responsible for overall management and strategic planning [7]. Executive Background - Liu Shi has over 20 years of experience in the technology industry and has held significant positions in companies such as Spreadtrum Communications and Marvell Technology [7][8]. Executive Compensation - In 2024, Liu Shi's total compensation is reported to be 1.957 million RMB, reflecting a 6.88% increase from 1.831 million RMB in 2023 [9].

Core Viewpoint - Shanghai Yixin Communication Technology Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with CITIC Securities (International) as the sole sponsor [1] Group 1: Company Overview - Yixin Communication is a global leader in cellular communication chip provision, featuring a highly optimized engine that enables devices to communicate via cellular LTE/5G networks [1] - The company's chip product matrix covers low, medium, and high wireless transmission speed domains, offering a unique advantage in optimizing the balance of PPA (Power, Performance, Area/Cost) [1] Group 2: Market Position - According to a report by Frost & Sullivan, Yixin Communication ranks first in China and third globally in the cellular communication chip industry by shipment volume [1] - The company's NB-IoT products hold the global leading position, while its Cat.1bis products rank second worldwide [1]