New stock news: JoulWatt Technology (688141.SH) has submitted documents to the Hong Kong Stock Exchange for the second time, ranking 13th among all simulated integrated circuit companies globally.

According to the disclosure by the Hong Kong Stock Exchange on January 13th, JoulWatt Technology Microelectronics Co., Ltd. (688141.SH) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CITIC SEC as its exclusive sponsor. The company had previously submitted a listing application to the Hong Kong Stock Exchange on May 30, 2025. The prospectus shows that, based on data from Frost & Sullivan, in the Chinese analog integrated circuit market, JoulWatt Technology was ranked 13th among all analog integrated circuit companies globally in terms of revenue in 2024, with a market share of 0.9%. Company Overview According to the prospectus, JoulWatt Technology is an analog integrated circuit design enterprise operating in the "Integrated Device Manufacturer" (IDM) model, focusing on the research and development of analog integrated circuits. Analog integrated circuits are electronic components that can transmit, convert, process, amplify, measure, or display continuous signals. Unlike digital integrated circuits that operate using discrete values, analog integrated circuits process continuous varying signals (such as voltage or current) to perform functions like audio processing and sensor interfaces. JoulWatt Technology offers a comprehensive range of analog integrated circuit products for various applications. JoulWatt Technology operates in a virtual IDM model, focusing on research and integrated circuit design, while partnering with wafer fabs for production. Unlike non-wafer fab companies, these companies are only responsible for designing circuits and outsource all production processes to external wafer fabs. Virtual IDM companies not only design circuits, but also develop proprietary process platforms in order to directly design and control key production steps at the wafer fab level. Therefore, JoulWatt Technology has self-developed a proprietary process platform for integrated circuit production, establishing a complete core technology architecture that covers processes, integrated circuit design, and system definition. During the historical period, JoulWatt Technology's product portfolio mainly included power management integrated circuits and signal chain integrated circuits. With its design and development capabilities in multiple product categories, JoulWatt Technology offers diversified power management integrated circuit products. As of October 31, 2025, the company and its subsidiaries offered approximately 3,400 integrated circuit product models for sale, including over 2,100 power management integrated circuit product models. According to Frost & Sullivan data: In the Chinese analog integrated circuit market, based on revenue, in 2024, JoulWatt Technology was ranked 13th among all analog integrated circuit companies globally, with a market share of 0.9%. In the Chinese market, based on revenue of power management integrated circuits (accounting for 63.8% of the total market share of the Chinese analog integrated circuit market in 2024), JoulWatt Technology was ranked eighth among all analog integrated circuit companies globally and fourth among Chinese analog integrated circuit companies in 2024, with a market share of 1.3%. In the Chinese market, based on revenue of DC-DC integrated circuits (accounting for 25.0% of the total market share of the Chinese analog integrated circuit market in 2024), JoulWatt Technology was ranked sixth among all analog integrated circuit companies globally and second among Chinese analog integrated circuit companies in 2024, with a market share of 1.9%. In the Chinese communication market, based on revenue of power management integrated circuits (accounting for 63.8% of the total market share of the Chinese analog integrated circuit market in 2024), JoulWatt Technology was ranked fifth among all analog integrated circuit companies globally and second among Chinese analog integrated circuit companies, with a market share of 3.0%. In the Chinese computing and storage market, based on revenue of power management integrated circuits (accounting for 63.8% of the total market share of the Chinese analog integrated circuit market in 2024), JoulWatt Technology was ranked sixth among all analog integrated circuit companies globally and second among Chinese analog integrated circuit companies, with a market share of 1.1%. Financial Information Revenue For the ten months ending on October 31st in 2022, 2023, 2024, and 2025, the company's revenue was approximately 1.448 billion, 1.297 billion, 1.679 billion, and 2.113 billion RMB respectively. Net Profit (Loss) For the ten months ending on October 31st in 2022, 2023, 2024, and 2025, the company's net profit (loss) was approximately 136 million profit, 533 million loss, 611 million loss, and 496 million loss RMB respectively. Gross Profit Margin For the ten months ending on October 31st in 2022, 2023, 2024, and 2025, the gross profit margin was 38.5%, 11.8%, 15.1%, and 22.6% respectively. Industry Overview Driven by rapid developments in key areas such as artificial intelligence, automotive electronics, and communication technology, the global integrated circuit market experienced significant growth from 2020 to 2024. The total market size soared from 2.49 trillion RMB in 2020 to 3.61 trillion RMB in 2024, with a compound annual growth rate of 9.7%. Looking ahead, the market size is expected to continue expanding, with a compound annual growth rate of 11.0% from 2025 to 2029, reaching a market size of 6.3 trillion RMB in 2029. In China, the growth of the integrated circuit market was particularly strong, reflecting China's strategic emphasis on technological self-sufficiency and industrial modernization. The market size increased from 0.88 trillion RMB in 2020 to 1.45 trillion RMB in 2024, with a compound annual growth rate of 13.3%. This growth is expected to continue, with the market size projected to reach 2.74 trillion RMB in 2029, growing at a compound annual rate of 12.8% from 2025 to 2029. The rapid development of industries such as AI and new energy vehicles are the main drivers of this expansion. Board of Directors Information The board of directors consists of 9 directors, including 3 executive directors, 2 non-executive directors, and 4 independent non-executive directors. The directors serve a term of three years and may be re-elected. Ownership Structure Mr. Zhou Xunwei, Mr. Huang Biliang, BVIJoulWatt Technology, Hong Kong JoulWatt Technology, Haikou Xinchuang, Jiewo Partnership, Jet partnership, Jie Wei partnership, Jie Wa partnership, Jie Cheng partnership, and Jiewan partnership together own and control 182,933,784 A shares, accounting for approximately 40.62% of the total issued shares as of the last practicable date, and will constitute the controlling shareholder group at the time of compilation. As of the last practicable date, Hong Kong JoulWatt Technology is wholly owned by BVIJoulWatt Technology, with BVIJoulWatt Technology being 51.0% owned by Mr. Zhou and 49.0% owned by Mr. Huang. Intermediary Team Exclusive Sponsor: CITIC SEC (Hong Kong) Limited Company Legal Advisors: Jingtian & Gongcheng Law Firm, Beijing Jingtian & Gongcheng Law Firm, Hogan Lovells International LLP, Xu Youdi Exclusive Sponsor Legal Advisors: NLD & Associates, Dentons Auditors and Reporting Accountants: TJ International (CPA) Limited Industry Consultants: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch Compliance Advisors: Legg High Corporate Finance Limited