New stock news | SigmaStar Technology submits second listing application to the Hong Kong Stock Exchange, becoming the world's largest supplier of visual AI SoC.

According to the disclosure of the Hong Kong Stock Exchange on March 27th, SigmaStar Technology Limited (referred to as SigmaStar Technology) submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CICC and China Securities Co., Ltd. serving as its joint sponsors. This is the company's second submission to the Hong Kong Stock Exchange. Company Profile SigmaStar Technology is a leading global fabless designer and supplier of vision AI SoCs. Leveraging the core framework of "vision + AI" and the core technology advantage of "perception + computation + connection," the company's vision AI SoCs are dedicated to empowering various industries' edge devices with vision AI technology. According to data from Frost & Sullivan, based on shipments in 2024, SigmaStar Technology is the world's largest supplier of vision AI SoCs, holding a market share of 26.7%. Based on shipments in 2024, the company's security and surveillance vision AI SoCs rank first worldwide, with a market share of 41.2%. Based on shipments in the first half of 2025, the company's Siasun Robot&Automation vision AI SoCs rank second globally, with a market share of 23.0%. Vision AI SoCs are a type of AI SoC optimized for vision-related AI tasks, integrating neural network processors ("NPUs") to efficiently process image and video-related AI computing tasks. The so-called "vision AI" refers to artificial intelligence technology that enables devices to interpret visual data such as images and videos like the human visual system, allowing for real-time object recognition, understanding of images or video content. By integrating this functionality directly into the chip, vision AI SoCs can perform low-latency inference at the edge, immediately activate device functions, or output results without the need for cloud connectivity. SigmaStar Technology has built a core AI SoC technology platform based on a reusable self-developed core IP library, a full set of AI processor toolchains, and a versatile audiovisual AI algorithm library applicable to multiple industries. With SoC design capabilities, the company can quickly integrate and expand core IPs in diverse application areas, rapidly respond to various customer demands, provide flexible system-level solutions, and maximize chip + algorithm efficiency. The company's agile integrated approach also enables innovation in edge AI, continuously launching higher standard next-generation SoC products. SigmaStar Technology has established a high-value customer base with scale and stickiness. The company collaborates closely with leading global customers, discusses industry trends and technological evolution routes together, and has established a dual-track supply chain system covering domestic and international markets to serve customers and build a cooperative AI industry chain ecosystem. With core technological capabilities, a comprehensive product portfolio, a high-value customer base, and a flexible and resilient supply chain, the company has gained broad recognition in the rapidly growing global edge vision AI SoC market. As of December 31, 2025, the company's SoC solutions have been adopted by over 400 terminal customers worldwide. Financial Information Revenue In the fiscal years 2023, 2024, and 2025, the company's revenues were approximately RMB 20.2 billion, RMB 23.53 billion, and RMB 29.7 billion, respectively. Profit In the fiscal years 2023, 2024, and 2025, the company's annual profits were approximately RMB 2.05 billion, RMB 2.56 billion, and RMB 3.08 billion, respectively. Gross Margin In the fiscal years 2023, 2024, and 2025, the company's gross margins were 35.2%, 36.0%, and 34.1%, respectively. Industry Overview In terms of shipments, the global AI SoC market size increased from 948.6 million units in 2020 to 1,564.6 million units in 2024, with a compound annual growth rate (CAGR) of 13.3% from 2020 to 2024. It is estimated that global AI SoC shipments will further increase to 3,899.2 million units by 2029, with a CAGR of 20.0% from 2024 to 2029. In terms of shipments, the global vision AI SoC market size increased from 54.3 million units in 2020 to 246.0 million units in 2024, with a CAGR of 45.9% from 2020 to 2024. It is expected that global vision AI SoC shipments will further increase to 954.3 million units by 2029, with a CAGR of 31.3% from 2024 to 2029. The global security and surveillance vision AI SoC shipments increased from 15.3 million units in 2020 to 137.3 million units in 2024, with a CAGR of 73.1% from 2020 to 2024. It is estimated that shipments will further increase to 470.9 million units by 2029, with a CAGR of 28.0% from 2024 to 2029. In 2024, the camera AI SoC shipments reached 127.9 million units, expected to increase to 442.1 million units by 2029, with a CAGR of 28.2% from 2024 to 2029. The NVR/NAS AI SoC shipments reached 9.4 million units in 2024, expected to grow to 28.8 million units by 2029, with a CAGR of 25.1% from 2024 to 2029. Board Information The Board of Directors will consist of nine directors, including three executive directors, two non-executive directors, and four independent non-executive directors. The directors' term is three years and can be re-elected upon expiration. According to relevant Chinese laws and regulations, independent non-executive directors can serve for a maximum of six years. Equity Structure Intermediary Team Joint Sponsors: China International Capital Corporation Limited, and China Securities Co., Ltd. (International) Finance Limited Legal Counsel: For Hong Kong and US laws: Reed Smith LLP; for Chinese laws: Jingtian & Gongcheng Law Firm; for US export control and sanctions laws: Jacobson Burton Kelley PLLC Joint Sponsor Legal Counsel: For Hong Kong and US laws: Skadden, Arps, Slate, Meagher & Flom; for Chinese laws: Hankun Law Firm Independent Auditor and Reporting Accountant: Ernst & Young Industry Consultant: Frost & Sullivan Consulting (Beijing) Co., Ltd. Shanghai Branch Compliance Consultant: SOMERLEY CAP Limited