Xinlong Technology plans to IPO on the Science and Technology Innovation Board and has completed listing guidance

On May 23, Haitong Securities released a summary report on the guidance work for Shanghai Xinlong Semiconductor Technology Co., Ltd. (referred to as "Xinlong Technology").

It was disclosed that Xinlong Technology, as a joint-stock company established and validly existing in accordance with the law, plans to apply for an initial public offering and be listed on the Science and Technology Innovation Board.

On December 28, 2020, Haitong Securities signed a coaching agreement with Xinlong Technology, and on December 29, 2020, went to the Shanghai Securities Regulatory Bureau to register for coaching filing.

In May 2021, Haitong Securities submitted a coaching summary report based on its 2020 annual report and applied for coaching acceptance. The total coaching time was nearly 5 months.

Haitong Securities believes that Xinlong Technology has met the conditions for guidance and acceptance and for submitting applications to the China Securities Regulatory Commission and the Shanghai Stock Exchange for the initial public offering of A-shares and listing on the Science and Technology Innovation Board. There are no legal and policy barriers that affect the initial public offering and listing on the Science and Technology Innovation Board.

Xinlong Technology plans to invest the raised funds in order of priority in projects that can consolidate and strengthen the company's industry position, including synchronous rectification high-voltage and high-power chip research and development and industrialization construction projects, research and development center construction projects, and supplementary working capital projects.

Continued growth in performance

Xinlong Technology is a company specializing in the research and development, design and sales of power management analog integrated circuits. The company combines the industry's advanced design technology with the domestic integrated circuit industry chain. In the circuit design process, it continues to tackle key problems and innovate technology, and repeatedly iterates and tries to accumulate rich experience, forming a relatively complete core technology and independent intellectual property system related to the company's business, and can provide customers with a series of power management analog integrated circuit products that are more cost-effective than those of internationally renowned manufacturers.

From 2018 to 2020, Xinlong Technology achieved operating income of 102 million yuan, 111 million yuan, and 158 million yuan, and net profits of 28.0236 million yuan, 28.6972 million yuan, and 43.1961 million yuan, respectively.

The core R&D and management teams of Xinlong Technology generally have more than 10 years of experience in the integrated circuit industry and have served the company since its establishment. Mr. Li Ruiping, the company's core technical director, has been working in the analog chip industry for nearly 30 years and has rich experience in R&D, design and management.

At present, the core parameter indicators of the company's main products, such as withstand voltage, operating voltage, output current, output voltage, etc., are at the same level as those of internationally renowned manufacturers, and can achieve import substitution in related fields. In addition, the company's main core technologies are all independently developed and have high intellectual property barriers.

With advanced R&D technology, reliable product quality and a complete service system, the company has accumulated excellent suppliers and customer resources in the Chinese power chip market and has become a well-known company in the domestic power chip industry. At present, the company's products are mainly used in automotive electronics, industrial control, communication equipment, consumer electronics and home appliances. Well-known customers include Guangwei Meixian, Xinjie Electric, Luxshare Precision, Xiaomi, Midea, etc.