Core Viewpoint - Zhongwei Semiconductor (688380.SH) has submitted an application for H-share issuance and listing on the main board of the Hong Kong Stock Exchange after three years of being listed on the Sci-Tech Innovation Board, indicating its growth ambitions and market expansion strategy [1][2]. Financial Performance - In the first half of 2025, Zhongwei Semiconductor achieved revenue of 504 million yuan, a year-on-year increase of 17.56%, and a net profit of 86.47 million yuan, a year-on-year increase of 100.99% [3][4]. - The company anticipates that its total revenue for 2025 will exceed 1 billion yuan based on current growth trends [4]. - Revenue from MCU solutions accounted for 75.1% of total revenue in the first half of 2025, while SoC solutions contributed 22.3% and ASIC solutions contributed 2.2% [3]. Market Position and Strategy - Zhongwei Semiconductor is recognized as a leading provider of intelligent control solutions in China, focusing on the research, design, and sales of digital and analog chips [2]. - The company has strengthened its position in the MCU market, becoming a key supplier for the 32-bit MCU autonomous controllable replacement [8]. - The company is actively promoting new products and expanding market share by leveraging product performance and customer resources [4]. Research and Development - As of the end of June 2025, Zhongwei Semiconductor had 211 R&D personnel, accounting for 49.07% of the total workforce, with a total R&D salary of 39.20 million yuan [8]. - The R&D expense rate for the first half of 2025 was 10.51%, despite a year-on-year decrease in R&D expenses by 11.06% to 52.97 million yuan [8]. - The company has applied for a total of 74 invention patents, with 41 granted, and has also applied for various other intellectual property rights, indicating a strong commitment to innovation [8].