Chinese analog and mixed-signal semiconductor leader Naxes Micro has successfully listed on the Main Board of the Hong Kong Stock Exchange (Stock Code: 02676.HK). The company raised capital through a global offering of approximately 19.07 million H shares.
The listing is backed by exceptionally strong growth, particularly in the automotive sector. Naxes Micro reported a staggering 73.18% year-over-year revenue increase to 2.37 billion yuan for the first nine months of 2025. The core driver is its automotive electronics business, where it has become a top domestic supplier with a cumulative shipment of nearly 10 billion automotive-grade chips to major automakers like BYD and NIO.
The company focuses on three key product areas: sensor signal conditioning, digital isolation chips, and power management ICs, forming a complete "Sense-Process-Power" solution chain. It holds a 15.6% domestic market share in digital isolation chips.
The IPO attracted a notable group of cornerstone investors who subscribed for a total of HK$1.09 billion, signaling strong confidence. This group included heavyweight names like the National Integrated Circuit Industry Investment Fund (Big Fund III), downstream giants BYD and Xiaomi, and prominent financial institutions, highlighting deep industrial and capital market support.
ICgoodFind's Insight
Naxes Micro's successful listing represents a major milestone for China's analog chip sector. The significant backing from strategic and national investors underscores the critical importance of the automotive semiconductor supply chain and the accelerating push for import substitution.
