New stock news | Ingenic Semiconductor (300223.SZ) Secondary filial listing on the Hong Kong Stock Exchange, ranking seventh globally in niche type DRAM.

According to the disclosure by the Hong Kong Stock Exchange on May 26th, Ingenic Semiconductor Integrated Circuit Co., Ltd. (referred to as Ingenic Semiconductor (300223.SZ)) has submitted its listing application to the main board of the Hong Kong Stock Exchange, with Guotai Haitong as the exclusive sponsor. The company had previously submitted a listing application to the Hong Kong Stock Exchange on September 15th, 2025. Company Overview According to the prospectus, Ingenic Semiconductor is a global provider of "storage + computing + analog" chips, with products widely used in automotive electronics, industrial medical, AIoT, and intelligent security devices. Ingenic Semiconductor operates on a fabless model, focusing on chip research and design, and collaborating with leading wafer foundries and packaging and testing subcontractors to ensure business scalability. Through organic growth and strategic acquisitions, Ingenic Semiconductor has become a global company with a comprehensive product portfolio. According to data from Frost & Sullivan, Ingenic Semiconductor holds a leading position in key markets globally, continuously empowering the development and innovation in technology frontiers like smart cars and edge computing. Specifically, based on 2025 revenue: - Niche DRAM: The company ranks seventh globally, second among companies headquartered in mainland China, and fifth among global niche DRAM suppliers for the automotive industry. - SRAM: The company ranks second globally, first among companies headquartered in mainland China, and first among global automotive grade SRAM suppliers. - NOR Flash: The company ranks seventh globally, third among companies headquartered in mainland China, and fourth among global automotive grade NOR Flash suppliers. - IP-Cam SoC: The company ranks second globally and first among global IP-Cam SoC suppliers for battery-powered devices. Ingenic Semiconductor's product portfolio covers three major product lines: storage chips, computing chips, and analog chips. Over the years of accumulation and innovation, the company has developed storage chips (including DRAM, SRAM, NOR Flash, and NAND Flash) primarily used in automotive electronics and industrial medical fields, computing chips used in AIoT and security applications, and analog chips (including LED driver chips and Combo chips) used in automotive electronics, industrial, and smart home appliances. Ingenic Semiconductor's storage chip product line includes DRAM, SRAM, NOR Flash, and NAND Flash, aimed at meeting the stringent requirements of automotive electronics and industrial medical fields. The company's computing chip product line includes a series of SoCs based on the company's self-developed core computing units, such as CPU, VPU, NPU, ISP, and AI-ISP. As of the last feasible date, Ingenic Semiconductor has completed engineering sample verification tests for multiple project wafers (MPW) and is currently making design modifications for the mass production version of the AI-MCU. Ingenic Semiconductor also offers multifunctional Combo chips that integrate MCU, LED drivers, power management, and communication interfaces (such as CAN or LIN) into a single chip. Financial Information Revenue For the financial years 2023, 2024, and 2025, the company achieved revenues of approximately RMB 4.531 billion, RMB 4.213 billion, and RMB 4.741 billion, respectively. Gross Margin For the financial years 2023, 2024, and 2025, the company's gross margins were 35.5%, 35.0%, and 32.8%, respectively. Annual Profit For the financial years 2023, 2024, and 2025, the company reported annual profits of approximately RMB 516 million, RMB 364 million, and RMB 375 million, respectively. Industry Overview With the deepening advancement of the "three transformations" in the automotive industry, the requirements for chips in electric and intelligent architectures for computing power, energy efficiency, functional safety, and automotive standards reliability have increased. More complex application scenarios demand chips with superior performance, leading to an increase in chip unit prices. The integration of functional modules drives quantity expansion. These dual effects result in a significant increase in the number of semiconductor chips per vehicle and a significant increase in their value, driving overall growth in the demand for automotive chips. As an important application scenario for chips, the automotive industry has a high demand for automotive systems. The global passenger vehicle shipment volume reached 90.9 million units in 2025. Sales of electric vehicles are expected to grow significantly faster than traditional fuel vehicles, with their penetration rate expected to increase from 24.3% in 2025 to 44.6% in 2030. Sales of smart cars are also growing rapidly, with their penetration rate expected to increase from 63.5% in 2025 to 93.3% in 2030. The global edge AI device market is rapidly expanding due to the development of lightweight AI algorithms, advancements in edge computing technology, and the continuous upgrade of consumer electronics. Storage chips can be classified into niche storage and general-purpose storage based on application scenarios and technical characteristics. Niche storage mainly focuses on specific niche scenarios such as automotive, industrial control, and aerospace that have stringent requirements for reliability, stability, and environmental adaptability. Through customized design, niche storage ensures stable and secure data storage and read-write operations in extreme temperatures, complex electromagnetic environments, and other special conditions, meeting the demands that general-purpose storage products may not be able to adapt to. Representative categories include SRAM, niche DRAM, SLC NAND Flash, NOR Flash, and EEPROM. General-purpose storage targets large-scale universal scenarios such as consumer electronics and data center infrastructure, aiming for high density, cost-effectiveness, and broad compatibility. Mainstream products in this category include standard DRAM and 3D NAND Flash. Board of Directors Information The board of directors consists of 11 directors, including four executive directors, three non-executive directors, and four independent non-executive directors. Directors serve a term of three years and may be re-elected upon the expiry of their term. According to relevant Chinese laws and regulations, independent non-executive directors may not serve for more than six years consecutively. Equity Structure As of the last feasible date, Dr. Liu Qiang, Mr. Li Jie, and Four Seas Junxin hold approximately 8.39%, 3.67%, and 0.69% respectively. To maintain group management and operational stability, Dr. Liu Qiang and Mr. Li Jie have entered into a joint action agreement, whereby they have agreed to act jointly (including voting at shareholder meetings and board meetings). As of the last feasible date, Four Seas Junxin is controlled by Qingdao Junpin Investment Partnership (Limited Partnership), which is controlled by its general partner Lhasa Junpin Enterprise Management Co., Ltd. (formerly known as Lhasa Junpin Entrepreneurial Investment Co., Ltd.), fully owned by Dr. Liu Qiang. Dr. Liu Qiang, Mr. Li Jie, Four Seas Junxin, Qingdao Junpin, and Lhasa Junpin will constitute the company's single largest shareholder group. Intermediary Team Exclusive sponsor: Guotai Junan Financing Limited Company legal advisors: Fangda Partners, Zhong Lun Law Firm, and Wilson Sonsini Goodrich & Rosati Exclusive sponsor legal advisor: Han Kun Law Offices LLP, Han Kun Law Firm Auditors and reporting accountants: Ernst & Young Hua Ming (Hong Kong) Limited Industry consultant: Frost & Sullivan Consulting (Beijing) Co., Ltd., Shanghai Branch Compliance advisor: Howbuy Capital Limited