New Stock News | Hongxin Yu Passes HKEX Hearing, Ranked 12th Among Global Memory Manufacturers

According to the disclosure by the Hong Kong Stock Exchange on October 20, Shenzhen Hongxin Yu Electronics Co., Ltd. (referred to as "Hongxin Yu") has passed the listing hearing for the Main Board of the Hong Kong Stock Exchange, with China Securities Co., Ltd. International as the sole sponsor. The prospectus shows that Hongxin Yu is a memory manufacturer. According to Frost & Sullivan, in 2025, the company held a 0.6% market share in the overall global storage product market by revenue and ranked 12th among all memory manufacturers globally. Through its technology platform covering (1) controller chip design and development, (2) firmware algorithm development, (3) test system development, and (4) storage media characteristic analysis, the company develops, manufactures (mainly through outsourcing wafer processing to third-party wafer manufacturers and outsourcing assembly, packaging, and testing to third-party OSAT suppliers), and sells storage solutions, thereby providing storage products to customers in diverse application scenarios. The company's products mainly include (1) embedded storage, including eMMC, UFS, ePOP, and uMCP, used in consumer devices such as smartphones, tablets, and wearable devices, as well as certain automotive applications; (2) SATA and PCIe series solid-state drive products for PCs, servers, and data center/automotive-related applications; (3) DRAM products, including DDR and LPDDR products for smartphones and PCs; (4) mobile storage products, such as USB flash drives and SD/microSD memory cards; and (5) storage die products, including NAND Flash and DRAM wafers and dies. The company operates under an asset-light fabless model, mainly outsourcing wafer processing, packaging, and testing to third-party wafer manufacturers and OSAT service providers rather than making substantial capital investments in in-house packaging and testing facilities. The packaging and testing of storage products are supported by a relatively mature industry chain, and there are numerous wafer manufacturers and OSAT service providers on the market, which gives the company flexibility in selecting service providers, and as of the Latest Practicable Date, the company had not encountered any material capacity constraints in its cooperation with such partners. Financially, for the years 2024 and 2025, and for the four months ended April 30, 2025 and 2026, the company's revenue was approximately RMB 8.718 billion, RMB 11.238 billion, RMB 2.805 billion, and RMB 8.012 billion, respectively; during the same periods, net profit was approximately RMB 483 million, RMB 1.364 billion, RMB 123 million, and RMB 3.841 billion, respectively.