Lixin Microelectronics’ clients include Samsung, Xiaomi, LG, Wingtech, etc.
On July 23, Wuxi Lixin Microelectronics Co., Ltd.’s application for listing on the Science and Technology Innovation Board was accepted. The sponsor is Everbright Securities and plans to raise funds. 613 million yuan (RMB, the same below).
According to the prospectus, Lixin Microelectronics’ main business is the R&D and sales of analog chips, providing customers with power management solutions through power management chips, and developing and promoting intelligence Network delay management unit, signal chain chip and other products. At present, the company is one of the main power management chip suppliers in the consumer electronics market, and its customers include Samsung, Xiaomi, LG, Wingtech, etc.
Lixin Microelectronics’ revenue is divided into power management chips and other two parts. From 2017 to 2019, Lixin Microelectronics’ operating income was 302 million yuan, 344 million yuan, and 475 million yuan, respectively. Power management chips accounted for 92.64%, 93.60%, and 90.59% of total revenue, respectively.
Lixin Microelectronics has achieved profitability. From 2017 to 2019, its net profit attributable to its parent was 22 million yuan, 25 million yuan, and 41 million yuan, respectively.
Lixin Microelectronics faces the risk of customer concentration. During the reporting period, the company’s top five customers accounted for 84.71%, 87.35%, 82.35%, and 80.57% respectively. Among them, the sales to Samsung Electronics accounted for 71.78%, 73.56%, 59.24%, 52.97%, which means that if there are problems with orders from major customers, the company’s performance may fluctuate greatly. In addition, the company also faces market competition risks and international trade friction risks.
In terms of equity structure, up to now, the company’s top five shareholders are Wuxi Yijing Investment Co., Ltd. (57.77%) and Wuxi Venture Capital Group Co., Ltd. (12.75% ), Wuxi High-Tech Venture Capital Co., Ltd. (9.56%), Yongxingda Industrial Co., Ltd. (4.17%), Zhuhai Hengqin Haijie Huifu Equity Investment Partnership (4.13%).
Lixin Microelectronics currently has a wholly-owned subsidiary and a holding subsidiary. The main business of Zhongshengchang, a wholly-owned subsidiary, is the sale of integrated circuits. controlThe main business of its subsidiary, Silicon Ruiwei, is integrated circuit research and development and sales. The company controls 50.84% of the shares of Silicon Ruiwei in total.
Lixin Microelectronics’ sci-tech innovation board IPO net proceeds will be used for high-performance power conversion and driver chip R&D and industrialization projects, high-performance power supplies Protection chip R&D and industrialization projects, R&D center construction projects, development and technology reserve funds.