en.Wedoany.com Reported - On July 10, Nexchip, a leading domestic 12-inch pure-play foundry, successfully listed on the Hong Kong Stock Exchange, completing an A+H dual listing. It became the third wafer foundry enterprise in mainland China to achieve dual listing, following SMIC and Hua Hong Semiconductor. On its debut day, the company's opening price was HKD 36 per share, up 11%. As of press time, its total market cap on the Hong Kong Stock Exchange was approximately HKD 75.8 billion. According to Frost & Sullivan's 2025 revenue statistics, the company ranks ninth globally and third in mainland China among wafer foundry enterprises.
For this Hong Kong listing, Nexchip introduced 20 cornerstone investors, collectively subscribing to 107,910,400 shares, accounting for 49.92% of the global offering shares. Based on the median offer price, the total subscription amount was approximately HKD 3.372 billion. The investor lineup covers diverse entities including industrial capital, public funds, insurance asset management, and overseas asset management, encompassing domestic institutions and industry chain enterprises such as Hillhouse, Shanghai Gaoyi, GF Fund, China Universal Fund, Taikang Life Insurance, ICBC Wealth Management, Goertek, Chery Automobile, and ESWIN, as well as several well-known overseas asset management platforms. The company plans to use the funds raised from this listing to focus on the research and development and optimization of the next-generation 22nm technology platform, build an AI-empowered intelligent R&D and production system, and establish an R&D and sales center in Hong Kong. The remaining funds will be used to supplement the company's operating cash flow.
According to Frost & Sullivan data, from 2020 to 2025, among the top ten global wafer foundries, the company ranked first globally in both capacity expansion speed and revenue growth rate. From 2023 to 2025, the company's revenue grew for three consecutive years, climbing from RMB 7.183 billion to RMB 10.388 billion, with net profit steadily released in line with the industry cycle. In terms of product structure, the revenue share of the traditional 90nm process has been declining year by year, while the share of 150nm, 55nm, and below process products has been steadily increasing.
Nexchip has built a complete product matrix covering DDIC, CIS, PMIC, logic chips, and MCU. Since 2024, CIS image sensors and PMIC power management chips have become new core growth engines. The company has achieved mass production of 90nm high-end mobile phone camera sensors and 55nm advanced back-illuminated and stacked CIS products, supporting up to 50 million pixel resolution. In the PMIC field, it has established 150nm and 110nm mass production platforms while simultaneously advancing 90nm product development. Regionally, over half of the company's revenue comes from mainland China.
The company has deployed a large-scale 12-inch wafer foundry production base in Hefei, Anhui, with a total park area exceeding 387,000 square meters. From 2023 to 2025, the average monthly wafer output increased from 79,800 wafers to 139,000 wafers, and in the first four months of 2026, shipments exceeded 606,000 wafers. Over the past three years, cumulative R&D investment has exceeded RMB 3.7 billion, and the company has successfully completed the R&D and implementation of a 28nm logic chip platform. As of the end of 2025, the company holds 1,374 patents, including 1,057 invention patents, with an additional 237 domestic and international invention patents under application.
The company's core controlling shareholder is the Hefei Construction Investment system, holding a total of 39.71% of shares. The board of directors includes executive directors, non-executive directors, and independent non-executive directors. Chairman Cai Guozhi has over 30 years of experience in the semiconductor industry, while Executive Director Zhu Caiwei has nearly 20 years of financial management experience.
Nexchip stated that the Hong Kong listing can open up overseas financing channels, support the R&D of advanced and mature 22nm processes and the expansion of 12-inch production lines, and leverage the international platform of the Hong Kong Stock Exchange to connect with global capital and overseas customers. With the development of downstream sectors such as automotive electronics, AI smart devices, and robotics, core chips like PMIC, MCU, and DDIC rely on mature process production, and the mature wafer foundry industry will maintain a long-term stable and prosperous trend.
