Huatai Electronics' ChiNext IPO has received inquiries, mainly engaged in RF business and power business.

On June 2nd, Suzhou Huatai Electronic Technology Co., Ltd. (referred to as Huatai Electronics) applied for a change in the status of the Shanghai Stock Exchange's Sci-Tech Innovation Board listing review to "under inquiry." Huatai United Securities is its sponsor, planning to raise 2.781 billion yuan. According to the prospectus, the company was established in 2010 and is a platform-type semiconductor enterprise with independent and controllable core technology in the semiconductor industry chain, realizing synergistic deployment of the industry chain. The company is mainly engaged in the research and development, production, and sales of RF business, power business related products, which can be widely used in scenarios such as communication base stations, semiconductor equipment, satellite communication, server power supply, photovoltaic power generation and energy storage, new energy vehicles, industrial control, smart terminals, AI computing power cards, etc. After sixteen years of in-depth research, technological breakthroughs, and industrial precipitation, the company has broken through the traditional constraints of semiconductor device design, focusing on significant discoveries in semiconductor device physics and breakthroughs in semiconductor process technology. The company has achieved original innovative designs for semiconductor devices, establishing a technology system and independent intellectual property system with both originality and differentiated competitive advantages. The core product performance has reached an international leading level, forming a technological barrier that is difficult to replicate and surpass. The company owns original core technologies such as silicon-based LDMOS RF power amplifier discrete devices, RFLDMOSMMIC, GaN RF power amplifier discrete devices and integrated modules, and silicon carbide RugSiC power devices and silicon-based superjunction IGBT devices, covering key links such as semiconductor device design, integrated circuit design, chip application solution development, wafer manufacturing process, packaging testing, packaging and cooling materials, etc., with integrated advantages in the industry chain. Relying on a sound underlying technical system, the company has achieved key breakthroughs in multiple application areas in the semiconductor industry chain, launching a variety of products including LDMOS and GaN RF power amplifier discrete devices adopted with cavity packaging, RFLDMOSMMIC, RugSiC power devices, superjunction IGBT, with performance indicators reaching industry-leading levels. The company's long-term development vision is to create an independent, efficient, reliable, and differentiated competitive advantage semiconductor product design and manufacturing delivery platform, to become a global leading supplier of high-power RF and power semiconductor devices, chips, and solutions. The company focuses on the two major national strategic directions of "Internet of Everything" and "New Energy," helping domestic leading customers achieve supply chain security for key semiconductor chips and devices, providing performance-leading products for international renowned customers by improving communication system efficiency and energy conversion efficiency. Building on existing products, driven by the demand of strategic customers and its own technological accumulation, the company has broken foreign technological monopolies, being the first to introduce RF power amplifier chips for RF power supplies with a maximum power of up to 3,000 watts, solving the bottleneck problem of domestic semiconductor equipment RF power supply with high-power RF power amplifier chips, achieving independent control and technological surpassing. At the same time, the company continues to develop new products, designing new gallium nitride RF power amplifier devices, new silicon carbide RugSiC power devices, high-performance MCU chips, high-precision battery management chips, among other new products, achieving strategic synergy between products, providing customers with a one-stop full range of chip solutions. Financially, in the years 2023, 2024, and 2025, the company is expected to achieve operating revenues of approximately 1.126 billion yuan, 0.707 billion yuan, and 0.726 billion yuan respectively. In the same period, the net profits are expected to be approximately -0.184 billion yuan, -0.464 billion yuan, and -0.128 billion yuan respectively.