en.Wedoany.com Reported - Fabless sensor integrated circuit (IC) design company HatchTech will make its debut on the KOSDAQ market on August 19 through a technology special listing. The company held investor relations roadshows in the Yeouido financial district of Seoul from July 27 to August 3, with the final offering price to be determined on August 5, followed by a two-day subscription period starting August 6. The initial offering price range is set at 23,000 won to 28,000 won per share, corresponding to a market capitalization between 128.5 billion won and 156.4 billion won.
HatchTech was spun off from Magnachip Semiconductor's sensor business division in 2017, with Choi Sung-min, who previously worked in sensor semiconductor marketing at Magnachip, serving as founder and CEO. Choi holds a 50.9% stake in the company, which will decrease to 41.4% after the IPO is completed. Magnachip itself was founded in 2004, originating from the system semiconductor business spin-off of SK Hynix (then known as Hynix Semiconductor).
To meet the conditions for a technology special listing, HatchTech underwent technology evaluations by Korea Technology Finance Corporation and NICE Information Service. The company received an A-grade rating on November 28, 2025, meeting the listing requirements. Under the technology special listing system, companies recognized for their technological competitiveness by designated evaluation agencies can go public without meeting conventional financial indicators.
HatchTech's core products are sensor ICs that detect magnetic fields and convert them into digital signals. Its product line includes geomagnetic sensor ICs, digital magnetic sensor ICs, and analog magnetic sensor ICs. Geomagnetic sensor ICs enable electronic compass functions in smartphones by detecting the Earth's magnetic field, accounting for more than half of the company's revenue. Key customers include Samsung Electronics, OPPO, and Vivo. Production is outsourced to SK keyfoundry, formerly part of Magnachip.
Sensor ICs that detect temperature and humidity changes represent another major product category. In 2025, HatchTech's temperature sensor IC, codenamed MXH132X, was registered as a temperature management component for enterprise solid-state drives (eSSDs) produced by SK Hynix. This registration means that customers using SK Hynix eSSDs can adopt HatchTech's temperature sensor IC. The company stated that the product has begun to be integrated into SK Hynix products this year and expects broader commercialization next year.
HatchTech is also developing new sensor ICs to expand its business from mobile magnetic sensors to industrial equipment and automotive electronics. Key development projects include automotive position sensors and next-generation magnetic sensor ICs based on tunneling magnetoresistance (TMR) technology. TMR sensors utilize resistance changes caused by variations in magnetic fields. These sensors can detect the position, rotation, and open/close status of magnets, while also functioning as current sensors by measuring the magnetic field generated by electric current. In automotive applications, they can be used for steering, pedals, throttles, motor position and angle detection, as well as current measurement in power conversion systems. Compared to Hall effect sensors, TMR technology offers higher sensitivity to small magnetic field changes, greater accuracy, and lower power consumption. HatchTech plans to allocate part of the expected IPO proceeds of 23 billion to 28 billion won to accelerate the development of TMR sensor ICs.
HatchTech expects revenue of 23.1 billion won this year, a 63.8% increase from approximately 14.1 billion won in 2025, with geomagnetic sensor ICs continuing to account for more than half of sales. The company forecasts revenue of 37.3 billion won in 2027 and 54.2 billion won in 2028. HatchTech expects to achieve its first annual profitability in 2027, with net profit of approximately 4.3 billion won. The company recorded an annual loss of about 275 million won in 2024, a loss of 2.395 billion won in 2025, and a loss of about 540 million won in the first quarter of this year, but returned to profitability in May with a monthly profit of 11 million won.
