New Stock News | Changguang Chenxin passes the hearing of Hong Kong Stock Exchange in 2024, ranking third in industrial imaging revenue among CIS companies worldwide

According to the disclosure by the Hong Kong Stock Exchange on March 29th, Changchun Changguang Chennx Microelectronics Co., Ltd. (referred to as Changguang Chennx) went through the listing hearing on the main board of the Hong Kong Stock Exchange, with CITIC SEC and GUOTAI JUNAN I as joint sponsors. The prospectus shows that Changguang Chennx is a provider of CMOS image sensors ("CIS"). Since its establishment, the company has been focusing on the R&D of CIS. The nine product series provided by the company are widely used in advanced technology fields such as industrial imaging, scientific imaging, professional imaging, and medical imaging. During the reporting period, the company mainly designed and sold CIS to downstream customers in the industrial imaging and scientific imaging industries, and operated in a fabless model. The company's products play a crucial role in enhancing the performance and imaging quality of industrial cameras, scientific cameras, professional film cameras, and other imaging equipment. For example, in industrial imaging applications, the company's CIS is used for manufacturing inspection processes, such as alignment error detection in lithium battery manufacturing, while in scientific imaging applications, the company's CIS is used for DNA sequence imaging, confocal microscopes, and fluorescence cameras. According to Frost & Sullivan data, in terms of industrial imaging revenue in 2024, the company ranks third among global CIS companies, with a global market share of 15.2%. Additionally, in terms of scientific imaging revenue in 2024, the company ranks third among global CIS companies, with a global market share of 16.3%. The industrial imaging and scientific imaging CIS markets are dominated by a few international and regional leaders. Based on 2024 revenue, the industrial imaging CIS market and scientific imaging CIS market each accounted for approximately 2.1% and 0.8% of the global CIS market. The company has built a comprehensive portfolio of standard products, namely CMOS image sensors, which include nine product series and over 50 standard products as of the last practicable date. Additionally, when standard off-the-shelf products in the market cannot meet the stringent requirements of target applications, the company provides custom sensor solutions. Custom sensor solutions enable the company's customers (leading manufacturers in specific fields such as high-end industrial inspection, scientific instruments, medical imaging, or professional consumer applications) to develop next-generation products with custom CMOS image sensors. The company's CMOS image sensors can be divided into (i) area array sensors and (ii) line array sensors based on pixel arrangement. The revenue breakdown based on pixel arrangement during the reporting period is as follows: In terms of finances, the company's revenue for the years 2023, 2024, and 2025 was approximately 605 million, 673 million, and 857 million yuan respectively; and the annual profits for the same period were approximately 170 million, 197 million, and 293 million yuan respectively.