Automotive lighting chip company Nanochip successfully listed on the Hong Kong Stock Exchange

On December 8, Suzhou Naxin Microelectronics Co., Ltd. was listed on the Hong Kong Stock Exchange, becoming the first domestic analog chip company to achieve "A+H" dual listings.

The company was established in 2013 and will be listed on the Science and Technology Innovation Board in 2022. This listing in Hong Kong is its further layout in the capital market. According to the company's disclosure, Hong Kong will serve as its overseas headquarters to strengthen global customer service and supply chain coordination.

Data show that Nanocore’s products are used in automotive electronics, pan-energy and consumer electronics and other fields. From 2022 to 2024, the company's revenue will increase from 1.67 billion yuan to 1.96 billion yuan; in the first three quarters of 2025, revenue will increase 73% year-on-year to 2.366 billion yuan.

Image source: Paixin.com genuine gallery

In terms of business structure, pan-energy business accounts for a relatively high proportion of the company's revenue in the medium to long term, but its proportion is declining year by year. The revenue scale and proportion of the automotive electronics business have shown an upward trend in the past few years, from 386 million yuan in 2022 to 719 million yuan in 2024. The first three quarters of 2025 have exceeded the full-year level of 2024.

In terms of products, the company has laid out multiple technical directions such as sensing, control, drive and power supply. The products cover motor drive, power management, lighting drive, etc., and gradually expanded to scenarios such as body control and thermal management. The company's automotive lighting-related chips have been mass-produced on some models. According to company information, it has currently established branches in the United States, Japan, South Korea and Germany to undertake local market expansion and customer support.

According to the prospectus documents, the net proceeds raised from Hong Kong stocks are approximately HK$2.096 billion, which will be mainly used for product portfolio expansion, overseas sales network construction and underlying technology research and development and other projects. Cornerstone investors in this issuance include National Integrated Circuit Industry Investment Fund Phase III, BYD, Xiaomi, Sanhua Intelligent Control and related investment institutions .