供应链与合作生态方面，力积存储构建了稳定的合作体系。其与全球知名晶圆代工厂力积电保持长期合作，与威刚科技、记忆 信息这两家全球前十大内存模组生产商建立合作关系，封测服务则由福懋科技、南茂等行业领先企业提供，为稳定产能提供有 力支撑。品牌层面，公司旗下Zentel内存品牌继承自拥有超20年历史的Zentel Japan，依托国际化研发和销售团队，已与全球优质 客户建立业务联系。 11月28日，浙江力积存储科技股份有限公司（以下简称"力积存储"）正式向香港联合交易所递交上市申请，本次发行独家保荐 人为中信证券。作为中国领先的内存芯片设计公司，力积存储凭借深厚技术积累与全面产品矩阵，在存储芯片领域实现大规模 商业化，2024年其存储芯片（含模块及晶圆内含芯片）销量已超1亿片。 在DRAM市场布局中，力积存储聚焦利基型市场，主打8Gb DDR4及更早代际产品。与主流DRAM侧重智能手机、个人电脑等标 准化装置的特性不同，利基DRAM采用成熟技术，性能要求较低，服务于专门应用场景，市场占有率更为稳定。据统计，2024 年利基DRAM在全球及中国DRAM市场的销售收入占比分别约为8.5%和15.9%。弗若斯特沙利文数据显 ...

Core Viewpoint - Zhejiang Lijichuang Technology Co., Ltd. (Lijichuang) has officially begun its IPO journey on the Hong Kong Stock Exchange, positioning itself as a leading memory chip design company and AI storage solution provider in China [2] Group 1: Company Overview - Lijichuang is recognized for its strong technical foundation, international R&D layout, comprehensive product matrix, and deep partnerships within the industry chain, enabling it to achieve large-scale commercialization of its products and solutions [2] - The company aims to develop high-bandwidth, low-power, and highly reliable storage solutions, catering to various market demands across multiple sectors including consumer electronics, network communications, automotive electronics, energy, and industrial control systems [3] Group 2: Financial Performance - Lijichuang's total storage capacity sold increased from approximately 13.8 million GB in 2022 to about 34.2 million GB in 2024, reflecting a compound annual growth rate (CAGR) of 57.4% [4] - Revenue rose from RMB 609.9 million in 2022 to RMB 646.4 million in 2024, despite the company experiencing annual losses of RMB 139.0 million, RMB 244.3 million, and RMB 108.9 million over the same period [4] - The adjusted net losses (non-IFRS) for 2022, 2023, and 2024 were RMB 136.7 million, RMB 93.2 million, and RMB 52.8 million respectively, indicating a significant increase in net loss in 2023 primarily due to substantial share-based payment expenses [4] Group 3: Customer and Supplier Relationships - Lijichuang's revenue from its top five customers amounted to approximately RMB 390.2 million, RMB 387.6 million, and RMB 336.1 million for the three years ending December 31, 2024, representing about 64.0%, 66.8%, and 52.0% of total revenue respectively [5] - The company sources from its top five suppliers, with procurement amounts of approximately RMB 672.8 million, RMB 475.9 million, and RMB 451.1 million for the same period, accounting for about 97.0%, 88.6%, and 76.2% of total procurement [5]