Lixin Micro, a new stock on the Science and Technology Innovation Board, was listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange on the 28th. As of the close, Lixin Micro reported 156.00 yuan, up 327.63%, with a turnover of 1.773 billion yuan, a turnover rate of 81.38%, and a total market value of 9.984 billion yuan.
Lixinwei’s “Initial Public Offering of Stocks on the Science and Technology Innovation Board Listing Announcement” shows that the issuer issued 16,000,000 shares this time, and the issued shares accounted for 25.00% of the company’s total shares after the public offering. , all of which are public offerings of new shares, and the company’s shareholders do not conduct public offerings of shares. In this offering, the initial strategic placement is 2,400,000 shares, accounting for 15.00% of this offering. The final number of strategic placements is 2,400,000 shares, accounting for 15.00% of the total number of this offering.
The company’s products are mainly used in mobile phones, wearable devices and other fields. The market scale is large and downstream products are updated rapidly, and the market competition is fierce. The company’s market strategy is mainly aimed at well-known downstream customers. While developing new customers, maintaining existing customer partnerships and maintaining product shipments and new product promotion, it also faces competition from domestic and foreign competitors. In the international market, the company directly competes with world-renowned IC design companies such as TI, ON Semi, DIODES, and Richtek in specific fields, but there is a certain gap in terms of market position, overall technical strength, sales scale, and product variety; In the domestic market, the development of the consumer electronics market in recent years has attracted the participation of many excellent domestic IC design companies, and has also produced a certain degree of market competition. The comparison between the company and its domestic and foreign competitors in terms of market position, business scale, and product quantity is as follows:
The company focuses on the R&D and sales of analog chips, mainly including power conversion chips, power protection chips, Display drive circuits and other power management chips, as well as other types of chips such as intelligent networking delay management units, high-precision Hall chips, and signal chain chips. . In addition to the intelligent networking delay management unit, the company’s products are mainly used in the field of consumer electronics represented by mobile phones and wearable devices. According to IDC data, in 2020, the shipments of the top five global smartphone brands, Samsung, Huawei, Apple, Xiaomi, and VIVO, accounted for 71.3% of the global smartphone shipments. The top five global wearable device brands, Apple, The combined market share of Xiaomi, Samsung, Huawei, and Fitbit reached 67.1%. The highly concentrated market structure of downstream mobile phones, wearable devices and other fields makes the company’s customer concentration high.
In each period of the reporting period, the sales proportion of the company’s top five customers was 87.35%, 82.35% and 77.26% respectively. Among them, the company’s sales to Samsung Electronics were 253.3072 million yuan, 281.1211 million yuan and 252.0942 million yuan, accounting for 73.56%, 59.24% and 46% of the total. .44%. Changes in the issuer’s revenue scale and performance during the reporting period are closely related to changes in sales to major customers such as Samsung Electronics.
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