Angewei Micro's ChiNext IPO has been "accepted", breaking the international manufacturers' monopoly on L-PAMiD module products.

On March 28, Beijing Angray Microelectronics Technology Co., Ltd. (hereinafter referred to as "Angray Micro") has submitted its application for listing on the Science and Technology Innovation Board of the Shanghai Stock Exchange, with China Securities Co., Ltd. as the sponsoring institution. The company plans to raise 2.067 billion yuan. According to the prospectus, Angrai Micro is an integrated circuit design enterprise focusing on the RF and analog fields, and is a national key "little giant" enterprise specializing in new technologies. The company is mainly engaged in the research, design, and sales of RF front-end chips, RF SoC chips, and other analog chips. During the reporting period, the company's core product lines mainly include a full range of RF front-end chip products (including RF front-end modules and power amplifiers, RF switches, LNAs, etc.) for intelligent mobile terminals in 5G/4G/3G/2G, as well as RF SoC chip products (including low-power Bluetooth and 2.4GHz proprietary protocol wireless communication chips) for the Internet of Things. With excellent technical strength, product performance, and customer service capabilities, the company has accumulated rich customer resources and formed a good reputation in the market. The company's RF front-end chip products have been sold in scale to all the top ten global smartphone brands except Apple, including Honor, Samsung, vivo, Xiaomi, Customer A, OPPO, Lenovo (moto), Transsion, realme. Meanwhile, the RF SoC chip products have been introduced to well-known industrial, medical, and IoT customers such as Alibaba, Xiaomi, HP, Kaidishi, Guangzhou Wahlap Technology Corporation, and Sannuo Medical. With rich technological accumulation and outstanding technological innovation capabilities, as of the date of the prospectus signing, the company has led or participated in 5 national-level and multiple local-level major scientific research projects. While actively promoting the basic research and industrial application of RF technology in China, it has developed high-integration products such as 5GL-PAMiD. The technical solution and performance of this product have reached the level of international manufacturers and have been widely used in mainstream flagship models, breaking the monopoly of international manufacturers on L-PAMiD module products. Financially, in the fiscal years 2022, 2023, and 2024, Angrai Micro is expected to achieve revenues of approximately 923 million yuan, 1.695 billion yuan, and 2.101 billion yuan, respectively. At the same time, the net profits are expected to be approximately -290 million yuan, -450 million yuan, and -64.7092 million yuan, respectively.