New Stock News | Lontium Semiconductor Corporation (688486.SH) files for listing on the Hong Kong Stock Exchange as a high-speed mixed signal chip design company.

According to the disclosure on December 22 by the Hong Kong Stock Exchange, Lontium Semiconductor Corporation (Hefei) Limited (referred to as Lontium Semiconductor Corporation (688486.SH)) has submitted an application to list on the main board of the Hong Kong Stock Exchange, with China Securities Co.,Ltd. International being the exclusive sponsor. Company Overview According to the prospectus, Lontium Semiconductor Corporation is a leading high-speed mixed-signal chip design company, dedicated to building efficient and reliable "data highways" for smart terminals, devices, and AI applications. The company's products enable seamless transmission and processing of data and efficient interaction between computing, storage, and display units. Main applications include smart visual terminals, smart car audio, AR/VR devices, and AI and High-Performance Computing (HPC). According to Frost & Sullivan data, based on revenue forecasts for 2024, the company ranks first in mainland China and among the top five fabless design companies globally in the video bridge chip market. High-definition audio and video data contain rich contextual information, which is crucial for computing systems to dynamically perceive and interpret the real world. For edge applications, audio and video processing can not only serve as a sensing mechanism but also enable intelligent recognition and real-time interaction. These functions can be further integrated with other input modes (such as touch) to form a closed-loop system of sensing-analysis-interaction. Therefore, high-definition audio and video data become an important bridge connecting the physical world and the digital world. The seamless, high-speed, and stable transmission of such data in Siasun Robot & Automation, drones, AR/VR devices, autonomous driving systems, and high-performance computing systems relies on three fundamental technological pillars: (i) high-bandwidth SerDes technology; (ii) high-speed protocol processing, data encryption technology; and (iii) high-definition video processing and display driver technology. The company has been continuously innovating and researching in these core technologies for the past two decades. Building on its technological advantages in high-bandwidth SerDes, Lontium Semiconductor Corporation has expanded into a wider range of interconnect chip fields. In particular, the company focuses on developing key interconnect components such as PCIe/CXL/USB Retimer and Switch. To meet the growing demands of HPC and AI, the company's solutions address the increasingly complex multi-modal data transfer bottlenecks in computing environments, including vertical expansion architecture (internal GPU clusters), horizontal expansion architecture (data centers), and cross-system architecture (between data centers). The company's solutions are designed to meet the strict requirements of ultra-low latency, ultra-high bandwidth, and high-reliability interconnects for next-generation AI infrastructure and HPC systems. Financial Information Revenue: In the financial years 2022, 2023, 2024, and the nine months ended September 30, 2024 and 2025, Lontium Semiconductor Corporation's revenues were approximately RMB 241 million, RMB 323 million, RMB 466 million, RMB 334 million, and RMB 389 million, respectively. Profit: In the financial years 2022, 2023, 2024, and the nine months ended September 30, 2024 and 2025, Lontium Semiconductor Corporation's profits were RMB 69.206 million, approximately RMB 103 million, approximately RMB 144 million, RMB 93.988 million, and approximately RMB 125 million, respectively. Industry Overview Smart video chips continue to drive the upgrade of display performance and interactive experience, becoming crucial engines for innovation and performance improvement of terminal devices. The global market size decreased slightly from RMB 102.1 billion in 2020 to RMB 101.4 billion in 2024, mainly due to cyclical fluctuations in downstream application industries. Between 2022 and 2023, the shipments of downstream areas such as smart visual terminals saw a significant decline, leading to a synchronous decline in overall demand for smart video chips. In 2024, with economic recovery and gradual easing of downstream cycles, overall demand for smart video chips is expected to gradually increase. In the future, upgrades of AR/VR, smart car audio, and terminal devices will drive rapid growth in the smart video chip market, projected to grow from RMB 109 billion in 2025 to RMB 145 billion in 2029 at a compound annual growth rate of 7.4%. In terms of sub-products, video bridge chips and video processing chips are expected to be the two core sub-sectors with the fastest growth and broadest development prospects. Despite the impact of periodic downturns in downstream industries over the past five years, they have maintained relatively significant market growth in terms of penetration rate and value in terminal devices, with compound annual growth rates of 8.7% and 6.2% between 2020 and 2024. In the future, as downstream terminals such as smart visual terminals, AR/VR devices, and smart car audio continue to grow in demand for multi-protocol compatible, high-speed stable signal bridging, and high-quality visual experience, the market size of video bridge chips and video processing chips will increase rapidly, expected to grow from RMB 11.2 billion and RMB 13.1 billion in 2025 to RMB 19.9 billion and RMB 20.7 billion in 2029, with compound annual growth rates of 15.5% and 12.1%, significantly higher than other categories of smart video chips. In the downstream application fields, AR/VR and smart car audio are expected to be the two core sub-sectors with the fastest growth and broadest development prospects in the future. The penetration of AR/VR devices in consumer and commercial scenarios is expected to deepen, leading to high-speed growth in shipments and driving demand for smart video chips. The market size in this area is expected to grow from RMB 2.7 billion in 2025 to RMB 11.8 billion in 2029, with a compound annual growth rate of 44.8%. The share of this sector in the overall smart video chip market is projected to increase from 1.3% in 2020 to 8.1% in 2029. In the smart car audio field, with the widespread adoption of multiple screen interactive cockpits and the continuous upgrading of autonomous driving technology, the deployment volume and functional complexity of single-car smart video chips will significantly increase, expected to drive the market size in this area from RMB 30.3 billion in 2025 to RMB 47 billion in 2029, and the share of this sector in the overall smart video chip market will gradually climb from 15.3% in 2020 to 32.4% in 2029. In the smart visual terminal field, driven by technological upgrades and national subsidy policies, the market size is expected to steadily increase to RMB 86.2 billion in 2029. The global interconnect chip market maintained stable growth trends from 2020 to 2024, with the market size increasing from RMB 53.6 billion to RMB 113.3 billion. Looking ahead, as the demand for data processing and visual display continues to grow in the AI era, the market size is expected to increase from RMB 139.5 billion in 2025 to RMB 290.4 billion in 2029, with a compound annual growth rate of 20.1%. In terms of sub-markets, AI computing chips, as key components for data transmission, are widely used in AI servers, other high-performance computing devices, smart car audio, and terminal devices, with the market size growing from RMB 47 billion in 2020 to RMB 104 billion in 2024. Looking forward, the clusterization of computing power, the upgrading of smart car audio electronic architectures, and the popularization of high-speed interfaces in smart terminals will continue to drive demand for general data interconnects, leading the market size for AI computing chips to reach RMB 273.9 billion in 2029. High-speed signal interconnect chips, responsible for the transmission of video and audio signals, will grow synchronously as terminal visual presentations evolve towards higher resolutions, low latency, and multimodal fusion directions. The market size for high-speed signal interconnect chips is expected to grow from RMB 10.5 billion in 2025 to RMB 16.4 billion in 2029. Board of Directors Information The board of directors consists of six directors, including two executive directors, one non-executive director, and three independent non-executive directors. Equity Structure The equity ownership of Lontium Semiconductor Corporation is relatively concentrated, with Mr. Chen holding 37.53% and Xin Wealth holding 3.31%, while other A-share holders hold 59.16%. Intermediary Team Exclusive Sponsor: China Securities Co., Ltd. (International) Finance Limited Company Legal Advisor: For Hong Kong and U.S. law: Pu Heng LLP (Hong Kong) Limited Liability Partnership; For Chinese law: Jin Tiancheng Law Firm, Shanghai Legal Counsel of the Exclusive Sponsor: For Hong Kong and U.S. law: Guo Weiyan Law Firm; For Chinese law: Deheng Law Firm Audit and Reporting Accountants: Ernst & Young Accounting Firm Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch