The HAODA Electronic Science and Technology Innovation Board IPO has been inquired, planning to raise 1.836 billion yuan, with a relatively high concentration of downstream customers.

On June 16th, Hordle Electronics Co., Ltd. in Wuxi City (referred to as: Hordle Electronics) applied for a change in the status of listing review on the Shanghai Stock Exchange's Sci-Tech Innovation Board to "under inquiry". Guolian Minsheng Securities is its sponsoring institution, planning to raise 1.836 billion yuan. The prospectus shows that Hordle Electronics is mainly engaged in the research, design, production, and sales of surface acoustic wave radio frequency chips. It is an IDM enterprise with a complete chip design, wafer manufacturing, packaging testing, and scale production chain that is independently controllable and industrialized. Its main products include filters, duplexers, resonators, etc. The company has built a technology platform centered around SAW, TC-SAW, and TF-SAW, with a leading filter wafer manufacturing line and SMD, CSP, WLP, Bare-Die packaging lines. It has formed a complete product system covering low, medium, and high frequencies, achieving comprehensive coverage of key frequency bands from 300MHz to 6GHz, making it a leading domestic surface acoustic wave filter enterprise. Regarding raw materials and important suppliers, the company mainly purchases materials such as chips, substrates, bases, photoresists, alloy wires, epoxy resins, photomasks, etc. During the reporting period, the company's main suppliers included TDG Holding, Meiwei Electronics, Xiamen Jiada Micro, Ningbo Kangqiang Electronics, Yancheng Zhenhong, etc. The company mainly sells surface acoustic wave filters to customers in the smart terminal, Internet of Things, and automotive electronics sectors through distribution or direct sales. The market concentration of downstream customers in various fields is relatively high. During the reporting period, the sales revenue to the top five customers accounted for 62.19%, 56.07%, and 67.54% respectively. After deducting issuance expenses from the funds raised in this offering, the specific investment projects and amounts to be invested are as follows: Financially, in the fiscal years 2023, 2024, and 2025, the company is expected to achieve operating revenues of approximately 419 million yuan, 607 million yuan, and 675 million yuan respectively; during the same period, net profits are expected to be approximately -217 million yuan, -79.7547 million yuan, and -3.3542 million yuan.