Samsung and Xiaomi power management chip supplier Saiweiwei's IPO on the Science and Technology Innovation Board has been accepted

On June 25, the Shanghai Stock Exchange officially accepted the Science and Technology Innovation Board IPO application of Guangdong Saiwei Micro Electronics Co., Ltd. (referred to as "Saiwei Micro").

The process of domestic substitution is accelerating, driving rapid growth in performance

Saiweiwei's main business is the research and development and sales of analog chips. Its main products are centered on battery management chips, and extend to more types of power management chips, including battery safety chips, battery metering chips, charging management and other chips.

As of December 31, 2020, Saiweiwei has 33 patents, including 17 invention patents, and 22 registered integrated circuit layout design rights in China.

With products of excellent performance and reliable quality, Saiweiwei has accumulated high-quality end customers including Dell, HP, Lenovo, Samsung, Stanley Black & Decker, TTI, Dongcheng Electric, OPPO, Honor, Xiaomi, Ninebot, Compal Computer, Wingtech Technology, Goertek, Edifier, Ecovacs, Anker Innovations, and Bull Electric.

From 2018 to 2020, Saiweiwei achieved operating income of RMB 67.2625 million, RMB 88.7361 million and RMB 180.1174 million, respectively, with a compound growth rate of 63.64%; the net profit was RMB 3.4167 million, RMB 3.6795 million and RMB 32.4586 million, respectively, during the same period.

Saiweiwei said that during the reporting period, the company's operating income increased year by year. In 2019, the company's operating income increased by 21.4736 million yuan compared with the previous year, an increase of 31.93%. In 2020, the company's operating income increased by 91.3813 million yuan compared with the previous year, an increase of 102.98%. During the reporting period, the company's performance showed rapid growth, mainly due to the combined impact of the company's continuous enrichment of products and the accelerated process of domestic substitution.

Raised 800 million yuan to increase investment in power management chips

Saiweiwei intends to apply for a public offering of RMB common A shares to the public, with the number of shares issued not exceeding 20 million, accounting for no less than 25% of the total share capital after issuance. After deducting the issuance expenses, the total amount of funds raised this time will be used in the field of technological innovation related to the company's main business.

Saiweiwei said that since its establishment, the company has always focused on the research and development and design of analog integrated circuits. After years of deep technical development, it has achieved many technical results in core technology fields such as battery electrochemical characteristics analysis and extraction and data modeling, mixed-signal IC design, low-power circuit design, high-voltage and high-power process design, and high-precision reference source design. It has successfully developed a series of battery management analog chip products.

The R&D and industrialization projects of consumer electronics battery management and power management chips, industrial battery management and power management chips, and new energy battery management chips are based on the company's existing R&D capabilities to increase the R&D efforts of these three types of chips, increase product lines and expand application areas. The technology R&D center construction project is an improvement and breakthrough in the company's existing R&D capabilities. The supplementary working capital project is an improvement in the company's risk resistance. The implementation of the investment projects with the raised funds will help the company upgrade existing products and develop and industrialize new products, and enhance the company's core competitiveness and sustainable profitability.

Regarding the future development strategy, Saiweiwei pointed out that the company has always taken "technological innovation" as its development strategy direction, adhering to the corporate culture of "innovation, collaboration, win-win, and inclusiveness", and is committed to developing into a technologically advanced professional analog integrated circuit company integrating design, research and development, and technical services, and becoming a trustworthy and reliable partner for customers. In the future, the company will continue to be guided by the downstream market demand, develop new products, enrich the existing product service system, expand the downstream market coverage, and promote the structural upgrade of the company's products; at the same time, the company will increase investment in technology research and development, strengthen the research on the basic core technology and cutting-edge technology of battery management chips, enhance the company's independent research and development and innovation capabilities, strengthen the company's technology research and development advantages, and enhance the company's market competitiveness.