On March 23, Nationals Technology successfully listed on the main board of the Hong Kong Stock Exchange, becoming the seventh semiconductor company to achieve A+H dual listings—publicly traded on both mainland China and Hong Kong markets. The company raised approximately $132 million in its Hong Kong debut, with shares rising 4.17% on the first day.
Nationals Technology operates a dual-business model spanning integrated circuit design and lithium battery anode materials. Its core focus lies in MCUs and security chips, with chip-related revenue climbing from 38.3% of total revenue in 2022 to 48.4% in the first nine months of 2025.
The company plans to use the proceeds to strengthen R&D, upgrade product portfolios, and pursue strategic investments. Key growth areas include edge AI, humanoid robotics, and automotive electronics—segments where its MCU products are already gaining traction.
As of March 24, 2026, the seven A+H listed chip companies are:
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SMIC: Foundry leader, first to achieve A+H status
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Hua Hong Semiconductor: Specialty foundry
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NavInfo: First A+H analog chip company
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OmniVision: Global No. 3 CMOS image sensor supplier, No. 1 in automotive CIS
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GigaDevice: Memory and MCU specialist
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Montage Technology: Global memory interface chip leader
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Nationals Technology: MCU and security chip player
Several other semiconductor firms, including Yuanjie Technology, Longsys, and Longxun, have announced plans to pursue Hong Kong listings, signaling continued momentum.
ICgoodFind: Seven domestic chip companies now span both A-share and Hong Kong markets—covering foundry, analog, sensors, and memory. The dual-listing trend is gathering steam as China’s semiconductor sector deepens its capital market presence.
