New Stock News | Li Ji Storage Submitted Application to the Hong Kong Stock Exchange, with Sales of Over 100 Million Storage Chips Last Year

According to the Hong Kong Stock Exchange disclosed on May 29th, Zhejiang Liku Storage Technology Co., Ltd. (referred to as Liku Storage) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CITIC SEC as the exclusive sponsor. This is the company's second submission. In 2025, Liku Storage sold over 100 million storage chips (including modules and chips contained in wafers). The prospectus shows that Liku Storage is a leading memory chip design company in China. With deep technological accumulation, industry cooperation, and a comprehensive product matrix, the company has a wide customer base and has achieved large-scale commercialization of products and solutions. Liku Storage focuses on niche markets, including 8Gb DDR4 and earlier generation products. Mainstream DRAM typically has large capacity and high speed characteristics, mainly used in standard devices such as smartphones and personal computers. In contrast, niche DRAM development uses mature technology, with lower performance requirements and serving specialized applications, ensuring a more stable market share. In 2025, its sales revenue in the global DRAM market accounted for approximately 7.0%, and in the Chinese DRAM market, its sales revenue accounted for approximately 12.3%. According to data from Frost & Sullivan, based on sales revenue from niche DRAM in 2025, Liku Storage ranks fifth among Chinese companies in the global niche DRAM market, fourth among Chinese companies without wafer factories, and twelfth among all participants in the global niche DRAM market. The company has developed WoW 3D heterogeneous integration technology and is advancing the mass production process of high-bandwidth memory products. Liku Storage's product layout is comprehensive, covering various generations of DRAM memory types, providing complete system-level storage solutions that can be widely used in consumer electronics, network communications, automotive electronics, energy, and industrial control systems. The company's strategic focus is on developing high-bandwidth and high-performance products to meet different market demands in various industries. Through independent research and development, the company has mastered the core technology of high-bandwidth memory products. With years of research and development experience and intellectual property accumulation, Liku Storage has accumulated rich professional knowledge and proprietary technology in product design, verification testing, quality control, and mass production in various technical fields. Over the years, the company has established solid foundations and business cooperation with over 100 customers worldwide. The company has maintained long-term cooperation with globally renowned wafer foundries, Lixil Electric, and has established partnerships with two of the top ten memory module manufacturers in the world, Xpert Technology and Memory Information, to ensure a stable supply chain supporting production capacity. With its international research and sales team, the company's Zentel brand inherits over 20 years of history from Zentel Japan, Liku Storage has established business relationships with top-tier clients worldwide, demonstrating the ability to rapidly expand its customer network and have vast market space. The company has benefited from the recent development of the global and Chinese storage chip and AI storage and computing industries, with the sales volume of its main products continuing to grow. During the historical period, the total storage capacity of products sold by the company increased from approximately 29.3 million GB in 2023 to approximately 54.3 million GB in 2025, with a compound annual growth rate of 36.1%. Financially, with the recent growth in the global and Chinese DRAM and AI storage and computing industries, the company's product sales volume and generated sales revenue have increased. In the fiscal years 2023, 2024, and 2025, the company achieved revenues of approximately RMB 580 million, RMB 646 million, and RMB 1.105 billion respectively. During the same period, gross profit was approximately RMB 21.20 million, RMB 60.28 million, and RMB 178 million respectively.