Hong Kong stocks add "super oversubscription king"! Fourier Semiconductor (03625) public offering oversubscribed 3117 times, joining the first echelon of Hong Kong stock new IPOs.

Hong Kong's high-tech sector adds another "super oversubscribed king"! According to the latest data, as of March 26, Shanghai Fourier Semiconductor Co., Ltd. (03625), which is set to be listed on Tuesday (March 31) as the "first stock of AI audio chips", has received unprecedented market attention. The public offering has received over 110,000 subscriptions, with oversubscriptions exceeding 3,117 times, ranking among the top six in Hong Kong's new stock IPOs in 2026. Fourier Semiconductor conducted its IPO from March 23 to March 26, planning to globally sell 12 million H shares with a price range of HK$40.00-50.00 per share, a trading unit of 100 shares per lot, and a maximum entry fee of HK$5050.43. The company expects to raise a net amount of approximately HK$480 million, mainly for establishing a new research and development center, purchasing automated testing equipment, and supplementing operational funds to further solidify its research and development moat in the field of power amplifier audio chips. As a domestic chip design enterprise that adopts the Fabless model, Fourier Semiconductor has focused on the research and sales of intelligent audio and haptic feedback chips since its establishment in 2016. The company has successfully created several "firsts in China" products, including the first portable power amplifier audio chip with integrated ASIC DSP in China, the first medium and high-power audio chip, and the first power amplifier audio chip certified by automotive-grade AEC-Q100. Its technical strength has been widely recognized by the industry. According to Frost & Sullivan data, based on revenue calculations for 2024, Fourier Semiconductor ranks fourth among global power amplifier audio chip suppliers, third among Chinese suppliers; and second in the Chinese market based on shipment volume, with the highest shipment volume in the smart screen special chip category in China. In terms of product layout and customer expansion, Fourier Semiconductor has built a full-scene product matrix covering consumer electronics, smart cars, and smart homes. In the mobile phone field, the company's products have successfully entered the supply chain of mainstream brands such as Samsung, Xiaomi, vivo, and Honor, and is the only Chinese chip company to enter Samsung's self-developed system. In the smart car field, the company has a forward-looking layout and has established deep cooperation with well-known brands such as BYD Company Limited, Changan, and Chery, achieving mass production of automotive-grade smart audio chips; In addition, it has a significant market share in smart home giants such as Hisense, TCL, and Skyworth. Financial data shows that the company's revenue is showing rapid growth. From 2022 to 2024, the company's revenues were 130 million yuan, 150 million yuan, and 355 million yuan respectively, with a 173% expansion in scale over two years. Revenue for the first 10 months of 2025 has reached 281 million yuan, a year-on-year increase of 47.6%. Fourier Semiconductor is being driven by technological innovation to transition from a leading mobile audio chip company to a "full-scene intelligent interaction chip" platform company. The listing on the Hong Kong stock market will not only inject strong capital momentum, but also open a new chapter for the globalization of Chinese audio chip companies.