Core Viewpoint - The Hong Kong stock market is experiencing an IPO boom, with the chip industry playing a significant role, exemplified by Shenzhen Feixiang Technology Co., Ltd. submitting its prospectus for listing on the Hong Kong Stock Exchange [2] Company Overview - Feixiang Technology, established in 2015, focuses on the design, research, and sales of RF front-end chips, with applications in smartphones, tablets, and wireless broadband routers [3] - The company operates on a fabless model, outsourcing manufacturing and testing processes to third-party companies [3] - Feixiang Technology has received multiple rounds of financing from institutions such as CICC Capital and Shenzhen High-tech Investment, and is listed among the 2024 GEI China unicorns [3] Financial Performance - The company's revenue grew from 1.021 billion RMB in 2022 to 2.458 billion RMB in 2024, achieving profitability in 2024 with a net profit of over 76 million RMB [4] - Revenue breakdown for 2025 shows that mobile smart devices accounted for 96.2% of total revenue in the first five months [3] - Despite a decline in revenue by 7.6% year-on-year in the first five months of 2025, the company maintained a gross margin increase, reaching 20% [6][4] Market Trends - The global RF front-end chip market is projected to grow from 107.2 billion RMB in 2020 to 159.5 billion RMB in 2024, with a compound annual growth rate (CAGR) of 10.4% [6] - The market is expected to reach 234.3 billion RMB by 2029, driven by the rapid development of smartphones, communication base stations, and the Internet of Things [6] Competitive Landscape - The RF front-end chip market has been historically dominated by international manufacturers, with major players like Skyworks, Broadcom, Qorvo, and Murata holding over 80% of the market share [7] - The trend towards domestic substitution is accelerating due to changes in international trade dynamics, enhancing the capabilities of China's chip industry [7] R&D and Innovation - Feixiang Technology invests significantly in R&D, with total expenditures reaching 272 million RMB in 2024, accounting for 11.1% of total revenue [8] - The company holds 21 core technologies and 331 patents, the most among RF front-end chip providers in China, focusing on ultra-wideband technology for high-speed wireless transmission [9] - Products are increasingly adopted by major smartphone brands such as Xiaomi, VIVO, and Samsung, indicating a growing market presence [9]

近日，射频前端芯片龙头企业深圳飞骧科技股份有限公司（下称："飞骧科技"）向香港联合交易所主板 递交上市申请，国信证券（香港）担任独家保荐人。 公开信息显示，飞骧科技曾于2022年10月首次向科创板递交IPO申请，原计划募资15.22亿元。2024年9 月，该公司及保荐机构撤回IPO申请，上交所于次月终止IPO审核。 对于先前撤回科创板上市申请，飞骧科技在招股书中称，"经考虑我们的A股上市程序时间表的不确定 性、我们的业务前景、我们的未来发展策略及当前市场环境，我们其后决定于2024年10月自愿撤回A股 上市申请。" PA及PA集成收发模组出货量全球第一 据招股书介绍，飞骧科技专注于设计、研发和销售射频前端芯片，是PA及PA集成收发模组的领先供应 商,下游应用领域包括移动智能设备、Wi-Fi产品、智能家居及其他物联网、车载通信及卫星通信等。 飞骧科技产品覆盖5G、4G、3G、2G、Wi-Fi、NB-IoT等多种网络标准通信制式，兼容主流蜂窝基带通 信平台及Wi-Fi平台。该公司在泛连接领域拥有高附加值的产品线，涵盖Wi-Fi系列、卫星通信及车载通 信等终端应用。根据弗若斯特沙利文的资料，飞骧科技于2020年成为 ...

根据公开信息，飞骧科技于2022年10月递交招股书，包括在科创板上市，原计划募资15.22亿元。而2024年10月，飞骧科技及其保荐人招商证券撤回上市申 请文件。因此，上海证券交易所终止对其首次公开发行股票并在科创板上市的审核。 对于先前撤回科创板上市申请，飞骧科技在招股书中称，"经考虑我们的A股上市程序时间表的不确定性、我们的业务前景、我们的未来发展策略及当前市 场环境，我们其后决定于2024年10月自愿撤回A股上市申请。" 此次报考港交所上市，飞骧科技成色几何？ 一、已实现扭亏为盈 撰稿|张君 来源|贝多商业&贝多财经 近日，深圳飞骧科技股份有限公司（下称"飞骧科技"）递交招股书，报考在港交所主板上市。据贝多商业&贝多财经了解，飞骧科技曾在上海证券交易所递 交招股书，计划在科创板上市。 相较此前招股书，飞骧科技更新了截至2025年5月31日的财务数据等信息。最新招股书显示，飞骧科技已于2024年实现扭亏为盈。2025年前5个月和2024年同 期，飞骧科技同样保持了盈利状态。 具体而言，飞骧科技2022年、2023年、2024年的营收分别约为10.21亿元、17.17亿元和24.58亿元，毛利分别约为1.3 ...