Terminated! Shenzhen chip company withdraws IPO

On March 30, the Shanghai Stock Exchange disclosed its decision to terminate the review of the initial public offering of shares and listing of Deyi Microelectronics Co., Ltd. (Deyi Micro) on the Science and Technology Innovation Board.

Deyiwei is one of the few domestic storage control chip companies that masters the core storage control technology, realizes large-scale shipments of independently developed storage control chips, and has the ability to fully cover storage solutions in its three product lines of solid state drives, embedded, and expandable.

During the reporting period, the number of Deyi Micro storage control chips shipped directly or indirectly through memory products reached 270 million. Among them, SSD storage control chip shipments will exceed 13 million units in 2021. According to iResearch data, the company's SSD storage control chip global market share reaches 4%.

At the end of each reporting period, the company's net cash flows from operating activities were -77.7877 million yuan, -164.4843 million yuan, -404.7618 million yuan and -176.1091 million yuan respectively. During the reporting period, operating cash flow continued to be a net outflow.

During the reporting period, the company's total sales revenue to the top five customers accounted for 70.26%, 56.05%, 65.26% and 70.49% of the current operating revenue respectively. The customer concentration is relatively high.

Currently, the number of Deyi micro-terminal customers exceeds 400. The company's storage control chips are installed in the memory products of well-known storage module manufacturers such as Netac Technology, Taipower, Colorful, Longsys, Jinghao Technology, Linghang Technology, and Hikvision Storage. The storage control IP based on the storage control chip has been adopted by many well-known domestic and foreign storage particle manufacturers and storage control chip companies such as Micron Technology, Phison Electronics, Realtek, and Huirong Technology, and is used in the design of their storage control chips.