Foshan will add a new listed enterprise on the science and innovation board. Recently, xidiwei (688173. SH) disclosed the results of its initial public offering and listing on the science and innovation board, and issued a prospectus. According to the prospectus, Xidi micro achieved an average annual compound growth rate of 84.33% from 2018 to 2020, and will raise 580 million yuan for R & D and industrialization projects of power management chips for high-performance consumer electronics and communication equipment.
Located in Qiandeng Lake venture capital town, Nanhai District, Xidi micro is one of the leading semiconductor and IC (integrated circuit) design enterprises in China. It is mainly engaged in the R & D, design and sales of analog integrated circuit products including power management chips and signal chain chips. Its products include DC / DC chips, super fast charging chips, lithium battery fast charging chips Port protection and signal switching chips are used in mobile phones, laptops, wearable devices and other fields.
Dr. Tao Hai, founder of xidiwei, graduated from Columbia University and worked for Fairchild Semiconductor, a well-known semiconductor company in the United States for more than 6 years; Other members of the team have working experience in many well-known enterprises in the industry, such as maxim, IDT, NXP, MTK, Lucent technology, etc. At present, the company has 19 self-developed core technologies, and has obtained 15 domestic authorized invention patents as of September 3, 2021.
The prospectus disclosed that some products of Xidi micro have the performance to compete with China’s leading manufacturers. In the field of consumer electronics such as mobile phones, DC / DC chips have been mass produced and shipped to Qualcomm, MTK, Samsung, Xiaomi, voice transmission and other customers; In the field of on-board electronics, the self-developed vehicle specification level power management chip products have reached the aec-q100 standard, and its DC / DC chip has entered the reference design of Qualcomm’s global automobile level platform to realize the shipment to well-known automobile enterprises such as Audi, Hyundai and Kia.
In 2018, 2019, 2020 and January June 2021, xidiwei achieved main business income of 67.1801 million yuan, 115 million yuan, 228 million yuan and 219 million yuan respectively, with an average annual compound growth rate of 84.33% from 2018 to 2020. However, due to the large R & D investment and other factors, during the above reporting period, Xidi micro’s net profits were -5.384 million yuan, – 9.5752 million yuan, – 145 million yuan and 19.1749 million yuan respectively, and had not realized profits in the latest year.
The prospectus disclosed that in this public offering, Xidi micro plans to raise 580 million yuan for R & D and industrialization of power management chips for high-performance consumer electronics and communication equipment, R & D of new generation automotive and industrial power management chips, headquarters base and cutting-edge technology R & D projects, and supplement working capital. Xidiwei said that after the stock issuance, the company will apply for listing on the science and Innovation Board of Shanghai Stock Exchange as soon as possible.
According to the data from Foshan Financial Work Bureau, by the end of 2021, Foshan had a total of 70 listed enterprises at home and abroad, ranking first among prefecture level cities in the province. Among them, there are three enterprises listed on the science and innovation board, namely Guangdong Huate Gas Co.Ltd(688268) , Guangdong Fuxin Technology Co.Ltd(688662) and Guangdong Leary New Material Technology Co.Ltd(688683) .
Use of Xidi micro fund-raising. Figure source Xidi micro prospectus
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