New stock news | Sicc Co., Ltd. (688234.SH) plans to conduct an IPO in Hong Kong. The China Securities Regulatory Commission requires an explanation of the development and compliance of the company's technology exports business over the past three years.

On April 3rd, the China Securities Regulatory Commission announced the requirements for supplementary materials for overseas issuance and listing applications (March 28, 2025 April 2, 2025). The Commission requested Sicc Co., Ltd. to provide additional information on the company and its subsidiaries' business scope, which includes technology export business, and to explain the recent performance and compliance of the technology export business over the past three years. According to the disclosure on February 24th by the Hong Kong Stock Exchange, Sicc Co., Ltd. (688234.SH) has submitted an application to the Hong Kong Stock Exchange, with CICC and CITIC SEC as its joint sponsors. The prospectus shows that Sicc Co., Ltd. is a leading enterprise in the global wide bandgap semiconductor materials industry, focusing on the research and industrialization of high-quality silicon carbide substrates since its establishment. According to data from Frost & Sullivan, based on the sales revenue of silicon carbide substrates in 2023, the company is among the top three silicon carbide substrate manufacturers globally. According to Sicc Co., Ltd.'s annual report for 2024, the company achieved a revenue of 1.768 billion RMB during the reporting period, an increase of 41.37% year-on-year; a net profit attributable to equity holders of 179 million RMB, turning from a loss to profit year-on-year; a non-GAAP net profit of 156 million RMB, also turning from a loss to profit year-on-year; and a basic earnings per share of 0.42 RMB.