Core Viewpoint - The enthusiasm of Qingdao enterprises for listing in Hong Kong has been increasing since 2025, with several companies, including Goer Micro, applying for listings, reflecting a strategic shift in capital operations and market response to regulatory changes [2][9]. Group 1: Company Overview - Goer Micro has submitted its initial public offering (IPO) application to the Hong Kong Stock Exchange after previously withdrawing its A-share IPO application due to market conditions and regulatory tightening [2][6]. - The company’s revenue showed a fluctuating upward trend, with reported revenues of 3.121 billion yuan, 3 billion yuan, and 3.266 billion yuan for the years 2022, 2023, and the first nine months of 2024, respectively [6]. - The sensor segment dominates Goer Micro's revenue structure, accounting for 77% of total revenue in the first nine months of 2024, with sensor revenue reaching 2.515 billion yuan [6][7]. Group 2: Strategic Decisions - The decision to list in Hong Kong is part of a strategic restructuring, allowing Goer Micro to focus on MEMS sensor devices while its parent company, Goer Group, concentrates on precision components and smart hardware [7][9]. - Goer Micro's reliance on external chip suppliers remains significant, with nearly 60% of its chip procurement coming from Infineon in 2022, although the proportion of self-developed chips in its MEMS products has increased from 22.5% in 2023 to 29.7% in 2024 [3][5]. - The Hong Kong Stock Exchange has introduced favorable policies, such as the "Science and Technology Enterprise Special Line," to facilitate listings for technology companies, enhancing Goer Micro's confidence in its IPO plans [9].