New stock news | China Micro Semicon (Shenzhen) (688380.SH) submits application to HKEX as China's top MCU shipment company.

According to the disclosure by the Hong Kong Stock Exchange on March 30th, China Micro Semicon (Shenzhen) Co., Ltd. (abbreviated as China Micro Semicon (Shenzhen) (688380.SH)) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with China Securities Co., Ltd. International as the exclusive sponsor. It is reported that the company previously submitted a listing application to the Hong Kong Stock Exchange on September 23, 2025. Company Overview The prospectus shows that China Micro Semicon (Shenzhen) is a leading provider of intelligent control solutions in China, focusing on the design and delivery of integrated circuit chips, with microcontrollers (MCUs) as the core of the company's products. According to research data from Frost & Sullivan, the company is one of the first enterprises in China to independently develop and design MCUs. Based on shipments in 2024, the company is ranked first in China in terms of MCU enterprises by revenue, ranking third. The company's core capabilities lie in MCU design and development, and its product offerings extend to various system-level chips (SoC), application-specific integrated circuits (ASIC), providing customers with one-stop integrated solutions for chips and underlying algorithms needed for intelligent control in consumer electronics, smart home appliances, industrial control, and automotive electronics, among other diverse applications. During the historical period, the company's revenue mainly came from providing MCU, SoC, and ASIC solutions, as well as the sale of other related products. The company has deepened its presence in various application scenarios, forming core competencies in both consumer and high-end markets. In the consumer field, the company's MCU chip products hold a leading position in the Chinese consumer electronics and smart home appliance sectors. According to Frost & Sullivan's research data, based on revenue in 2024, the company ranks first in the MCU chip market for smart home appliances in China and second in the consumer electronics sector. Building on its consumer market presence, the company has successfully overcome barriers to high-end applications of MCU chips, entering the high-growth industrial control and automotive electronics sectors. As of December 31, 2025, the company has served a total of over 1,000 customers, including industry-leading enterprises, well-known consumer brands, and reputable car manufacturers, laying a solid foundation for future growth and market expansion. The company's mature delivery capabilities, strong customer retention rate, and integration in various operational areas and partner collaboration have laid a solid foundation for continued expansion. In 2023, 2024, and 2025, the customer retention rates were 63.5%, 73.2%, and 82.8%, respectively. Financial Information Revenue In the year 2023, 2024, and 2025, the company recorded revenues of approximately RMB 714 million, RMB 912 million, and RMB 1.122 billion, respectively. Net Profit For the years 2023, 2024, and 2025, the company recorded net profits of approximately -RMB 21.949 million, RMB 137 million, and RMB 284 million, respectively. Gross Profit For the years 2023, 2024, and 2025, the company recorded gross profits of approximately RMB 69.23 million, RMB 261 million, and RMB 369 million, respectively. Industry Overview Between 2020 and 2024, the global MCU industry's market size increased from RMB 110.4 billion in 2020 to RMB 140.3 billion in 2024, with a CAGR of 6.2%. Among the many downstream applications, consumer electronics was the largest category in 2024, reaching RMB 38.3 billion. Emerging industries such as edge AI, Siasun Robot & Automation, and drones had the fastest growth rate, with an intra-period CAGR of 11.6%. By 2029, the global MCU industry's market size is expected to reach RMB 210.8 billion, with a CAGR of 8.5%. The automotive electronics sector is expected to reach RMB 61.3 billion, followed closely by the industrial control sector (RMB 61.1 billion in 2019). Between 2020 and 2024, the Chinese MCU industry's market size increased from RMB 41.3 billion in 2020 to RMB 56.8 billion in 2024, with a CAGR of 8.3%. Among the various downstream applications, automotive electronics and consumer electronics were the two largest categories in 2024, reaching RMB 16.5 billion and RMB 14.5 billion, respectively. By 2029, the market size of the Chinese MCU industry is expected to reach RMB 96.9 billion, with a CAGR of 11.3%. With strong momentum, the automotive electronics sector is expected to reach RMB 34 billion in 2009, followed by the consumer electronics sector (RMB 19.9 billion in 2029). Board of Directors and Management Information The company's board of directors currently consists of six directors, including three executive directors and three independent non-executive directors. Shareholding Structure As of the latest practicable date, according to the joint action agreement, Mr. Yang, Mr. Zhou Yan, and Mr. Zhou Fei together form the controlling shareholder group, collectively holding equity in 223,292,700 shares of the company, representing approximately 55.77% of the voting rights of the company. Therefore, under the listing rules, the controlling shareholder group will remain the company's controlling shareholder group. Intermediary Team Exclusive Sponsor: China Securities Co., Ltd. (International) Finance Limited Company Legal Advisor: Hong Kong Law: Tianyuan Law Firm (Limited Liability Partnership); Chinese Law: Guofeng Law Firm Auditor and Reporting Accountant: Deloitte Touche Tohmatsu Certified Public Accountants Ltd. Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch