New stock news: Crystal Storage Technology submits application to the Hong Kong Stock Exchange as an independent manufacturer of embedded storage products.

According to the disclosure on the Hong Kong Stock Exchange on September 29, Shenzhen Crystal Storage Technology Co., Ltd. (referred to as "Crystal Storage Technology") has submitted its listing application to the main board of the Hong Kong Stock Exchange, with CMB International Securities and GUOTAI JUNAN I as its joint sponsors. According to the prospectus, Crystal Storage Technology is a leading global independent embedded storage product manufacturer, mainly focusing on the research and development, design, production, and sales of embedded storage products and other storage products. Crystal Storage Technology's embedded storage products include products based on DRAM (DDR, LPDDR), products based on NAND Flash (eMMC, UFS), and multi-chip packaging (MCP) embedded storage products (eMCP, uMCP, ePOP). Crystal Storage Technology's other products mainly include solid-state drives and memory modules. In addition to product sales, Crystal Storage Technology also provides testing and storage technology services to some customers as a supplement to storage solutions. Crystal Storage Technology's core technical team has been deeply involved in the field of embedded storage for about twenty years, creating the widely recognized RAYSON and ARTMEM brands. The terminal applications of Crystal Storage Technology's products cover consumer electronics, including smartphones, laptops, tablets, educational electronics, smart homes, wearable devices, smart Siasun Robot & Automation, as well as diverse scenarios in industrial fields and intelligent cockpit systems, providing high-performance, high-reliability, and durable data access capabilities for the aforementioned terminals. During the reporting period, Crystal Storage Technology operated two smart manufacturing centers located in Shenzhen and Zhongshan, respectively. The Shenzhen smart manufacturing center is mainly responsible for testing products based on DRAM, including Crystal Storage Technology's main products such as DDR4, LPDDR4/4X, and LPDDR5; the Zhongshan smart manufacturing center mainly focuses on testing products based on NAND Flash and hybrid products, including eMMC, UFS, eMCP, and ePOP. In terms of market competition, the global semiconductor storage product industry is a vast and rapidly growing market. According to Frost & Sullivan data, the global semiconductor storage product market is expected to reach 13.8 billion units in terms of shipments by 2024. It is estimated that in the next five years, driven by new storage demands and technological product upgrades brought about by breakthroughs in AI technology, the global semiconductor storage product market in terms of shipments is expected to grow to 19.4 billion units by 2029, with a compound annual growth rate of 7.1% from 2024 to 2029. Financially, the company's revenue for the fiscal year 2022, 2023, 2024, and the six months ended June 30, 2025, is approximately RMB 2.096 billion, 2.402 billion, 3.714 billion, and 2.06 billion respectively; meanwhile, the annual/period profit for the same period is approximately RMB 44.417 million, 37.013 million, 88.887 million, and 114.778 million respectively. As described in the prospectus in the risk factors section, if Crystal Storage Technology fails to timely adopt new technologies and introduce new products in response to industry trends, downstream demand, and technological progress, it may have an adverse impact on the company's business operations and financial performance.