Gattelan's IPO has been accepted by the stock exchange, becoming the world's fourth largest supplier of automotive-grade millimeter-wave radar chips.

On August 13, 2023, GATLAN Microelectronics Technology (Shanghai) Co., Ltd. (referred to as GATLAN) has had its IPO on the Shanghai Stock Exchange's Sci-Tech Innovation Board accepted. CICC is the sponsor institution, aiming to raise 3.489 billion yuan. According to the prospectus, GATLAN was established in 2014 and is a high-tech enterprise focused on the research, design, and sales of automotive-grade wireless sensing and communication chips. The company has a rich product portfolio, including millimeter-wave radar chips and ultra-wideband chips, which are widely used in automotive advanced driver assistance systems, autonomous driving, body perception both inside and outside vehicles, digital keys, and other automotive fields, as well as in industrial and consumer fields such as Siasun Robot & Automation, smart homes, and smart cities. By 2025, the company is projected to become the fourth largest global supplier and the second largest in the domestic market for automotive-grade millimeter-wave radar chips, establishing itself as an industry leader in this segment. Millimeter-wave radar is irreplaceably important in modern intelligent systems, especially in automotive driving automation systems, due to its precise dynamic perception of target distance, speed, angle, micro-movement, unique all-weather environmental adaptability, and multi-scenario functional support. Additionally, with the deepening trend of electrification and intelligence in automobiles, high performance, ease of development, and miniaturization have become significant development trends for millimeter-wave radar. In recent years, benefiting from technological innovation and the widespread adoption of advanced driver assistance systems, domestic companies have continuously achieved breakthroughs in advanced technology and applications for millimeter-wave radar chips, making significant strides towards catching up and surpassing international giants, presenting enormous growth potential. Since its establishment, the company has been dedicated to the field of wireless sensing and communication chips, assembling a technology research and development team with deep insights into global millimeter-wave radar chip technology development trends, advanced industry technology, comprehensive mass production experience, and sustained independent innovation capabilities, continuously leading the global technology development of CMOS millimeter-wave radar chips. Currently, the company has become the first domestic enterprise to achieve large-scale mass production of automotive-grade millimeter-wave radar SoC chips using the CMOS process, ranking among the top two globally. It has deeply accumulated core technologies, including millimeter-wave circuit design based on CMOS processes, high-performance RF analog and mixed-signal circuit design, radar signal processing hardware accelerators, radar system design, flexible cascading technology, packaging integrated antennas (AiP), packaging integrated radiators (RoP), and advanced millimeter-wave chip packaging design, while continuously iterating technologies and expanding derivative applications. As of the end of the reporting period, in the automotive-grade field, the company has shipped over 30 million millimeter-wave radar chips, covering well-known domestic manufacturers including BYD Company Limited, Geely, Changan, Chery, SAIC, FAW, Dongfeng, Leapmotor, Chongqing Sokon Industry Group Stock, and NIO. At the same time, the company has also begun competing with globally renowned chip companies in the international market. The company successfully became the first Chinese domestic millimeter-wave radar chip supplier for two well-known Tier 1 global platforms in Europe and has successfully entered the main models of overseas manufacturers such as Volvo in Sweden and Rivian in the United States, accelerating the internationalization of Chinese millimeter-wave radar chips. The company indicated that it will take some time for product development, continuous improvement of product performance, and sales revenue to support sustained and stable profits. As a result, the company has not yet turned a profit during the reporting period and reported cumulative losses by the end of the period. Given the complexities of factors affecting business results, such as market conditions, industry competition, customer expansion, and supply chain management, the company faces risks of continued losses in the near future and the inability to achieve profitability within the expected timeframe set by management. In terms of finance, for the fiscal years 2023, 2024, 2025, and the first quarter of 2026, the company's operating revenues are projected to be approximately 206 million yuan, 303 million yuan, 632 million yuan, and 154 million yuan, respectively. During the same period, the net losses are estimated to be approximately -323 million yuan, -334 million yuan, -193 million yuan, and -60 million yuan, respectively.