New Stock News | Yaoxin Micro Hong Kong Stock IPO and domestic unlisted shares "Fully Circulated" approved by China Securities Regulatory Commission

On June 5th, the International Cooperation Department of the China Securities Regulatory Commission issued the "Notice on the Filing of Overseas Issuance and Listing of Shares and Full Circulation of Unlisted Shares in China" for Yaoxinwei (Shanghai) Electronic Technology Co., Ltd. Yaoxinwei plans to issue no more than 34,584,500 shares of ordinary shares for overseas listing and listing on the Hong Kong Stock Exchange. The company's 46 shareholders intend to convert a total of 170,416,540 shares of unlisted domestic shares into overseas listed shares and list them for circulation on the Hong Kong Stock Exchange. According to the prospectus, the company is a leading power device and audio chip supplier in China, with an integrated business structure covering design, development, and sales, spanning multiple end markets. The company focuses on providing high-quality and high-endurance power devices and audio chips for the automotive, consumer electronics, energy, and industrial markets (including AI data center power supply). According to CIC data, the company is the only semiconductor company in China that develops power devices and audio chips using a virtual IDM model. In the virtual IDM model, the company focuses on power device and audio IC design, while retaining control over specific proprietary manufacturing technologies, and establishing deep cooperation relationships with wafer foundries, packaging and testing service providers, combining design-driven flexibility with moderate control over key manufacturing processes. This enables the company to achieve process feedback manufacturing, dynamic capacity optimization, and close cooperation with wafer fabs, building a comprehensive competitive advantage encompassing technological definition rights, supply chain autonomy, and quality leadership.